Bought Ford At 13.77 Look for big rise tomorrow

I bought into ford (f) at 13.77. Reason? Take a look at the chart. Ford is riding the 21 day exponential moving average. The 13 day exponential moving average is just now pointing up and getting ready to cross the 21 EMA. This stock could explode tomorrow, seriously. Again I trade short term. Looking for short term explosions like the one I believe will happen tomorrow with Ford stock. I did have my eye on GE but after careful analysis of the charts I shifted gears and went with Ford stock. Keep an eye out and until next time.....watch your charts!!!

Market Confusion - Ford Stock Update

Hello Stockhoppers I wish I could tell you why the market is climbing steady but surely, it actually looks rock solid, moving in a very quiet yet strong upward direction. Setting new high after new high and looking to do so AGAIN tomorrow. The whole stock market atmosphere seems just quietly optimistic, not getting to excited. That is what the stock market index charts are telling me. I believe if you are scanning the stock charts you can find some pretty good solid buys out there.

Take a look at the Stock Index Charts. Not too exciting just solid gains. Look how it is following the 13day exponential moving average. It looks like it will continue in this trend for at least the next couple of trades. This market definitely looks like it is a runner in a cross country race, just pacing itself. That all can change as we all know all too well. All the sudden the Stock Market may see itself as a sprinter, thus exhaust itself and fall back. For now looooking good! Yet I am very nervous about this market.

Ford stock is currently in a crossroads. I would say modestly optimistic. It very well could break out of its pennant shape tomorrow in a upward direction. I called that it would get down as low as 12.25 about a week and half ago. It sank to 12.34. I will not be bullish on Ford until it gets on top of the 21day exponential moving average, or even maybe the 13 day exponential moving average. You risk takers out there may try and guess the turn around........not me.

I am currently out of the Money with my short position with GE. I may be out tomorrow if it breaks above 19.13 I will let you know how that comes out. I still see some inconsistency with the latest gains. It seems to lose ground at the end of the day, for now I hold my short position. Well I am sorry this is so boring, but lets face so is the broad market right now.

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

Could Dow hit 11000 today? Watch Ford

Good Morning Stockhoppers, Well today will be another one of those pivotal days for the market. You know looking at the Dow chart it really looks like it is ready to spike upward. Take a look at the consolidation , moving higher than the previous session but the key here it is not making new lows. This market may be getting the spring fever!! I do believe the market has been resting and is ready to hit that 11000 mark.

Now a little different story for those of you holding Ford stock or thinking about buying it, again take a look at the stock chart. The major indexes, although moving just modestly upward here the last couple of days, Ford stock is moving lower, not a good sign, the stock chart is showing weakness and looks like it is ready for a correction. If it makes a new low today and ends up near its new low today, you stockhoppers looking to get in may be able to around the 12.25 market, do I dare say 12.00? Keep an eye on Ford, a buying opportunity is around the corner
That is all for now....Until next time Happy Stock Charting!!!

Todays Stock Charting Check 3-22-10

Good Morning Stock Hoppers, Looks like after the news of the new health plan being passed that the market is going to show its displeasure, but here is a good example of how charting works. Look a the DJI index chart. If you knew absolutely nothing about that congressional vote you could look at the chart and see that the DJI has reached its recent high last week and is looking a little tired and is probably going to retreat today and start a new resistance level of around 10,750.....lets see if I am going to be correct, we will follow it daily. Its funny how this works but it does. Thats what I mean when in recent blogs I talk about how the stock chart does tell the story. That does not mean that there is not news that can absolutely rock the markets,as in the case of 9/11 but these are far and few between and there is not an stock advisory out there that can predict those.

As far as my active trade GE I am looking for a break below 17.90(remember I shorted this stock last week)to confirm its downtrend. You can see from the chart that this is a pivotal day for GE as it is showing indecision on whether or not it can stay at its run up level.

Well to say the very least it is going to be a real interesting day on Wall Street today. Don't get caught up in all the emotional mumbo jumbo though,what ever your position is. Stay true to your stock charts and what they are telling you. For today I think I will just hang on to my shorts... pun intended. So until next time...Happy Stock Charting!!!

Todays Stock Chart Check

Good Morning Stock Hoppers, Just dropping a note on my on yesterdays decision to short GE at 17.92, although it finished the day at 18.19 the chart shows me that even when the major index was up yesterday, GE could not make a new high, I am still seeing short term weakness here as it should continue in a short term downward direction. I am thinking somewhere in the neighborhood of 16.90. The major index keeps plodding along in an upward direction, I did say look out for a pullback here very soon, but maybe it has to spike upward first before we see that pullback.

As for my other active trades HCBK and TER, I will give a weekend profit report on those stocks after today, currently they are both in the money!!! Until next time Happy Stock Charting!

Putting In A Buy Order Today

Good Morning Stock Hoppers, Not much time this morning but I alway like to let everyone know if I put in an order, so today I am letting you know that I place an order to buy 1000 shares of TER with a stop-limit order of 10.72. Take a look at the chart. I believe that it will bounce off the averages. I have to keep it short this morning. Until next time....Happy Stock Charting!

My Daily Stock Watch

Good Morning Stock Chartists,

Well its the end of another trade week and the Dow is breaking out of a little flag consolidation and is sitting on top of its resistance as you can see by the chart. The market does not look real comfortable at this level, as it seems to be retracting to its lows and staying within the resistance level, traders have to be a little careful here that we do not have a false breakout.

I did put in an buy order this morning for MU but it missed my trigger because it gapped up. I had a stop-limit order in at 9.72 and it opened today at 10.10, so I missed that one but I am sure not going to chase it. I settled out of a trade yesterday that I had held since 1/21/10(As I usually do not hold them that long). It was MBI I bought in at 5.30 and I sold yesterday at 5.95, I will take the $650.00 gain. I will be looking for my next trade over the weekend. I hope all your trades are doing well today. Until next time......Happy Stock Charting!!!

Market hit first resistance level

Good Morning, Yesterday the market went up and hit the mini resistance level, after finishing near its low yesterday it may be ready to retreat back to the 13day and the 21 day ema.before it makes a push toward the upper resistance level. If we see a breakout it will be very good news today.

My individual stock recommendations from yesterday, pretty much followed yesterdays trend with the exception of FITB, it posted a .30 gain, so if you were in on that one, you did well. If you day traded any of my recommendations you also hopefully did pretty well, as they all saw early gains before they followed the market at days end.

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

MY STOCK PICK TODAY 3-2-10

Good Morning, I was one out of two yesterday. I thought the Dow would bounce off its averages and it did, and more than likely will continue its uptrend today. Take a look at the chart (above). There is a mini resistance point where it has consolidated a bit and a higher resistance level. Looks like it will at least go up and hit its first resistant point today, we will read the chart tomorrow to see if it will follow through to its upper level.

For my active stock, well it looks like it may go back and touch its support level, it had a false breakout as you can see by the stock chart(right). There was no alarming news on the stock, so I do expect it to bounce off resistance and start its way back up........just taking a little longer than I wanted it to.

Today I am purchasing a 1000 shares of NSM on a breakout level of 14.87 if it does not reach there I will not buy, reading the stock chart it looks poised to do so. The 13 day ema is crossing over the 21 day ema. Another good sign is that it closed at its highest point yesterday. The only thing I am worried about is that it will gap up too far at the open today and I will miss my order entry. I am looking for it to reach the 15.40 level.

Other stocks that look good today(so check out the stock charts on these) are in no particular order: cfn @26.19,cien@14.90,s@3.49,nvda@16.96,duk@16.59,ek@6.07,wmb@22.12,amd@8.31,erts@16.99 and fitb@12.34. Remember I lead all my stocks that I purchase meaning it has to continue its upward momentum and trigger the trade.

Hope you find a winner today and until tomorrow......Happy Stock Charting!!!

Daily Stock Chart Check-New Buying Opportunity?

Good Morning and Welcome to March, time to think SPRING!! Lets Hope the Dow springs off its 13 day and 21 exponential moving average today. Even though we have a bit of a downtrend(as I predicted last week)the Dow chart is still not in bad shape, trading on top of its averages. I believe it is ready to bounce back starting today. Read the chart it is all there. I am waiting for a new buying opportunity to present itself,most likely this week somtime, stay tuned.

As for my active trade HCBK(bought at 13.27) it is looking very good. As you can see it broke out of its little consolidated pennant(a flag like consolidation formation) see the two horizontal trend lines? this would also have presented a very good buying signal on this breakout. I am looking for this stock to reach 13.75 here in the next couple of days, again I am just reading the stock chart and I do watch the daily news on it just to make sure there are not any bomb shells that would drastically make it turn south.

REMEMBER I will let you know when I am buying and selling and more importantly what signals the stock chart is giving me to execute a trade.

Until tomorrow........Happy Stock Charting!!

Daily Stock Chart Check 2-25-10

Good Morning,

So far this week the market has shown a great deal of predictability(We know all that can change in a hurry). Before the open lets take a look at the chart for the Dow Jones. We are concentrating on the 13 day and the 21 day exponential moving average. Look how the Dow seperated last week from these averages, and if you have been following along with my recent blogs, I have mentioned that it will seperate but count on the return back to these averages as they do not (usually) stay seperated for a very long period of time, as was the case for the Dow here recently, as it moved back to its averages this week.

The Dow now is sitting on top of the 13 day and 21 day ema, will it consolidate a bit more? or will it bounce of these averages today and continue its uptrend and head toward the resistance level of around 10500? I would wave a short term Red Flag if the Dow goes below its last 2 day low of 10267.

HCBK one of my active trades is showing some consolidation with the 13day ema crossing upward over the 21 day ema which is a bullish sign, I also am looking at this stock chart seeing it meet its support level of around 13.00 and yesterday bouncing off those levels in a positive direction. That is why I will stay with this trade and look for its momentum to carry it over the 13.47 mark.

Yesterday I exited IPG at 6.91 (Bought at 6.82) for a small gain. The reason that I exited was that the stock chart showed me that the 13 day ema was crossing over the 21 day ema in a downward direction alerting me that it looks like it will continue its downward trend and head back toward its support levels of around 6.30. As I said in a recent blog this chart has formed a classic head and shoulders formation. Hey no matter how small the gain, it is still a again and I will take it over a loss anytime.

Until tomorrow.....Happy Stock Charting!!!!

Daily Stock Chart Check

Good Morning, The Dow looks to be wanting to come back to its 13 day and 21 ema before it moves to its resistance level of 10,514. Dow futures are pointing slightly down to flat this morning but that could all change after the open.

IPG - One of my two active trades went up and hit its resistance level and now going back to meet its 13day and 21 day ema. I will wait for the bounce. Take a good look at this chart and you will see a classic head and shoulders formation forming(See the shoulder to the left and the head in the middle and the right shoulder is forming). It would be great to see it bust through resistance of 7.22 today!!

HCBK - As you can see from the chart it is bouncing off its support level looking for follow through today.

When you are looking at support and resistance levels you should see at least 3 points of where the stock bounced off of those levels, as you can see on this chart there are 5 good points where it bounced off and continue in a upward direction from its support levels. These are the type of stock charts that I look to trade because they show some predictability and trend.

Until tomorrow.......Happy Charting!

Daily Stock Chart Check 2-19-10

Today I will be interesting as you can see the DJI Chart has gained momentum. Will the 13 day ema cross over the 21 day today and continue this momentum? I think it has a good chance. Although if we do have a up day today you can expect a early week pull back as it starts to distance itself from the averages. You have to play the averages. It takes alot of the risk out of your trades.

As for my active trades, I will be watching them all very closely today. HCBK - I got in at 13.27 currently it is at 13.37 and I am looking for it to bounce off the 13 day ema and continue its upward trend.

IPG if you remember I bought this at 6.82 and it is now at 7.09. I like how the13 day ema is crossing the 21 day ema. That is a good sign.

As for LEG the one I recommended (at the same time I bought IPG and HCBK) at 18.87 is doing great it is now trading at 19.59, nice 3 day move. If I were in this trade I would continue to hold as it is climbing and staying close to the ema. averages.

I hope you all have a great day and next time I will be talking about an exit tool that I do use occasionally. It is call the 50% retracement indicator. I will explain it in my next blog. Until then.....Happy Charting

Evaluating Picks from 2-16-10

Today lets hope for a follow through from yesterday, dow futures are up modestly this morning. The chart for the dow shows some momentum as it trades above the 13 day ema. and the 21 day ema, as I said yesterday this is what I was looking for.

Charting my stock picks from yesterday they all triggered. Here was the results

HCBK - Order for 1000 shares triggered at 13.27 closed at 13.41

IPG - Order for 1000 shares triggered at 6.82 closed at 6.87 - I am watching this one closely as it gaped up and many times when a stock gaps up it will retrace its gap the next day or so.

LEG - Wouldn't you know I identified this stock in yesterdays blog but did not put in an order for it, as I went with the other 2(IPG and HCBK) and of course that was the best performing stock of the day, I said in yesterdays blog that I felt there was a good opportunity if LEG crossed 18.87 and it did it closed at 19.39!! Oh well you can't buy them all. I hope someone following this blog got in and made money yesterday charting this stock.

I will be watching the stock markets closely today watching for follow through and momentum. Until tomorrow..............Happy Charting