Friday, May 28, 2010

Will We See Any Follow Through??!!!!

Good Morning Stockhoppers, No charts today, I would imagine if you are in or got in the market yesterday you made some money....if you did not...well that is just bad luck as the market obviously surged yesterday.

Lets look at the real question at hand. WILL WE SEE FOLLOW THROUGH!!?? look at most any chart and you will see that they are at or approaching their 13 day exponential moving average the million dollar question, will we see the follow through or will it bounce off the 13 ema and move south.

Be very careful here, it is very easy to become overly optimistic after a day like yesterday. Be a smart trader, if you study the charts you know there is always an opportunity patient as I have preached over and over again. Remember the market always seems to be in a good mood right before a holiday.

Have a great memorial day weekend, get some rest...and until next time..chart wisely today.

Thursday, May 27, 2010

Stock Charts Scary.......TLAB in play

Good Morning Stockhoppers, I hope you are surviving all the turbulence of this market. Yesterday I liquidated my Ford stock at 11.75 ...even though it is pointing up this morning in pre-market trading, I just do not like the chart formation on it,most stocks will cover a gap which I do expect will happen with Ford(see the gap on chart above). Many stocks are moving toward their 13 exponential moving average.

After reviewing the many stocks from the S & P 500 I seen one that stood out to me. TLAB, check out the chart above. The 13 day exponential moving average is ready to cross up over the 21 exponential moving average and has held up pretty well during this mini crash, I put my order in to trigger at 8.95.

The over all market still looks very shaky, they say things over in Europe are the cause of this, along with several other factors but just continue to watch your charts and the 13 day ema and 21 day ema they will not misguide you.

Until next time.....Chart wisely today!!!

Wednesday, May 26, 2010

Dow Jones Bounces Off Support Levels.....Ford Covers Early Gap Down

Good Morning Stockhoppers, Whew, the market did recover after a miserable Tuesday morning. Support levels are holding up and with the Dow Jones only posting a modest lost yesterday, we should see some follow through today.

Notice on the Dow chart that prices are a long way from the 13 day exponential moving average. This is what we need to keep an eye on as it bounces back toward this average. When it reaches these levels I will be putting a stop loss right below to eliminate any risk that this market will bounce off the 13 day ema and take another dive. The whole point here is that many traders lost allot of money in the so called mini crash, when it was totally unnecessary. This market is very unpredictable so protect yourself.

Ford also recovered nicely yesterday as it filled in its early morning gap down(as you can count on most stocks and averages will do this that is why I did not sell out of my position)in late afternoon trading. Ford is also holding at support levels. I did have a stop-loss placed at 10.15 just in case it broke down these levels,the stop loss remains in tact today, although I do expect a nice follow through today for Ford. PLEASE STAY ON TOP OF THIS MARKET. We are definetly not out of the woods. When Ford stock gets to its 13 ema set your stop-loss and protect yourself. No one cares about your money like you do.

Well until next time.....Chart Wisely Today!!!

Tuesday, May 25, 2010

Intra Day Update- Ford Holding Support

Good Afternoon Stockhoppers, Talking with you earlier we were watching our support levels and the 13day ema. So far we are holding at support levels with the market trying to rebound here in late day trading. Watch for your stocks to cover their gaps, that is what should happen here. The Dow is not close as of yet to covering the gap down from this morning terrible open. Continue to watch the support levels. If we can show some recovery here late it should spill over to tomorrows trading session. The Dow is quite a long way from the 13 ema, so we should see it move closer in the next session. CAUTION! be careful as it gets close it may bounce off and make another run lower at the support levels.

Ford has come close to covering the gap down from this morning. Look at the chart Ford is also holding onto support levels, but the chart is not pretty. It needs to finish near the days high, the difference in Ford and the major averages is that it is closer to its 13 day exponential moving average, which may indicate continued weakness. Keep watching the support levels and if it falls through take cover.

Until next time chart wisely today

Look Out Below!!! Update on Ford Stock

Good Morning Stockhoppers, Here we go again, in my last blog I threw in a word of caution. Well I hope you have been keeping a close eye on your money and adjusting your positions accordingly.
Lets get to it here this morning. Things are looking a little ugly here, and looking at the dow chart it may get worse. Yesterday we finished around the days low and could fall through support here today and if we do LOOK OUT BELOW!! and we will have to find new support before we see a turnaround. Today it is not looking good here. So if you are in for the short term I hope your stock(s) does not gap down today. Look at the dow chart we already have had a double bottom (1-2-3 formation). Look at our 13 day exponential moving average and our 21 day exponential moving average. The only real positive we have here today is that prices have moved away from the 13day ema and usually they will not stay away too long, but when the bottom falls out there are no rules with a crash, we have already seen a mini crash here with no real rebound which could lead to a major crash, I know it is a hard thing to do taking any loss but covering your positions now may save your money to re-invest when we find support here. Its all a part of being a serious trader, you have to get through these turbulent times.

Now for Ford, traders this is a bit scary, there has been quite a bit of good new(see the news really amounts to nothing, its all in the charts) yet the stock continues its slide. Look at the chart it is nearly identical to the Dow and could easily fall through support today. I am still long this stock and should have covered yesterday, I will take my own advice today and cover because we are looking at about a six month support level that it could break through and if it does there is no support in site and we could see year end 2009 levels. This is serious stuff here folks do not fall in to the same buy and hold trap that took so many traders and investors money in the last few years and left them with nothing. Live to trade another day!

No one cares about your money like you do........Until next time,Chart wisely today!

Tuesday, May 18, 2010

Time For Rebound? Ford Update

Hello Stockhoppers, It has been a little helter skelter here lately. We have fallen well below the 13day and 21 day exponential moving averages, are we seeing the bottom? Take a look at the Dow Jones Industrial chart, looks like we may have a 1-2-3 bottom forming, at least for the short term. We will not be sure until we see prices get back on top the 13day and 21day exponential moving averages. It looks like we are seeing the end of this downturn. What to watch for as we do approach the averages will prices hit and bounce off and return down or will they continue through and start to settle on top of these averages. Short term I would say there is money to be made by doing a little bargain hunting. Saying that I will also throw in a word of caution, get in make some money but watch out as they approach these averages.

Updating Ford which I am currently in long and in the Red with, it mirrors the Dow, this of course is not surprising. Ford should rebound as the market rebounds here. If you have money on the sidelines this would probably be a good play, but again watch as it approaches the 13day and 21 EMA. If you want to play it safe wait for it to bust above the #2 point on the chart, which it will most likely here real soon. If you are a little more adventurous you may want to play it now and keep a close eye on it as it approaches the #2pt and the averages.

How ever you play it keep a close eye on your money and the Charts!! Until next time....Happy Charting!!

Tuesday, May 4, 2010

Dow Jones Review/Wheres Ford Heading?

Good Morning Stockhoppers, This market is getting very topsy turvey(are those words). We are starting to see those large ups and downs which means.....uncertainty in the market!! For a long time now we have seen nice steady gains and just some healthy cooling off with the major indexes. Not so anymore. Take a look at the Dow Jones chart,look at the wider ranging days here the last week of trading. It tells the whole story of how the market feels right now UNDECIDED bulls win one the bears win one. Look for another day of consolidation while the Dow is forming its pennant.

Ford Motor technically is showing that the market is reacting to the other auto makers news. Ford is not the only game in town anymore!, this chart is also showing indecision of which way the traders want to go. Take a look at Fords chart,what has me concerned is that the 13 day exponential moving average is leveling off and slightly turning down toward the 21 day exponential moving average.

On the bright side this is a time many traders will make a lot of money trading these wide ranging days. Just keep reading the charts - the 21 day ema and the 13 day ema. Remember the old saying the trend is really your friend.

Until next time.....Happy Stock Charting!!