Stock Market Review-Ford Stock Update

Good Morning Stockhoppers, Market showing strength again. All you have to do is read the stock charts and it tells us that this stock market is on a very steady climb in a upward direction.

Today we may see a slight pullback but I would not expect nothing drastic. It will probably come back to the 13 day exponential moving average and then continue its climb upward. At this point the market is very predictable.

If you read my blog yesterday you would have read that I was right on the nose in regard to ford stock, it did break out of its penant formation in an upward direction. Look at the Ford Stock Chart. Broke out nicely. Now what we have to watch today is if Ford stock will bounce back off the 21 day exponential moving average or will it get on top of the average. If if gets on top today that will signal a very bullish sign....stay tuned.

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!!!

Stock Market Signaling Downturn?

Hello Stock Hoppers, Well today was definitely a tale of two sides. Up early down late. Matter of fact up significantly today(over 100pts)end of day was a different story, losing most all of its gains, matter of fact the S & P500 did finish in the red. What is the charts trying to tell us here short term? I believe that we are in for a mini correction back down to the 21day ema. I am looking at below the 10700 mark. Lets face it the market has had a nice run up and really we do not want to see this market just continue to skyrocket, what goes up hot and heavy usually comes down alot harder and faster. So a small downturn is not only probable here but for the most part very healthy.

I am currently short GE at 17.93, it has gone against my thought here the last couple of days but looks like it is going to retract, so I am going to stick with it. I only purchased 500 shares so I am willing to hold it as long as I see some short term weakness,...which I do see it coming here the next couple of days.

As soon as I see the averages come back down to the 13 day and 21 day exponential moving averages, I will be posting the stocks that will take full advantage of the bounce back. Look at my recent blogs and check some of my other picks when the market bounced. They did pretty well, I think you will agree.

Well 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!!!

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!

Todays Stock Market Check

Good Morning Stock Traders, Interesting day today. I am a little nervous about buying any stock today. The DJI looks poised for gains today, but it is getting further away from its 13day and 21day exponential moving averages which always put me on alert for a pull back in the next day or two, so I will set on the sidelines and wait until the index chart gives me a little more confidence to get in. As you can see by the DJI chart the market looks ready to move forward this morning, the big question is will it be there at the end of the day........I am not so sure it will. Until next time 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!!