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!!!
No comments:
Post a Comment