Pick a Stock Chart any Stock Chart

Hello Stockhoppers, Well it has been a while since I have touched base. Life has been busy but I have continued to follow this failing market. Oddly enough my last blog was somewhere around June 8th and i could use that same blog to describe things today, although because of the length of this downturn it makes it......well to keep it simple SCARY! this is if you are not short, if you are short this market kudos to you. I am not even going to post any charts today because most of them tell the exact same story and that is the bottom hopefully is coming soon but not many technical indicators are telling us this.

WHAT TO LOOK FOR NOW? I am waiting for the correction. Keep an eye on your exponential moving averages. We are see many double bottoms, will they break support? we will find out here soon. But yes there will be a correction, so my advice would be to keep that money on the sideline for now and wait to get FIRM CONFIRMATION on the correction and get on board. Currently I own just a few hundred shares of Tellab, I am currently in the red with this one but it is showing some promise of correcting.

I hope your trades are heading in the right direction and until next time happy stock charting!!

AND THE STOCK CHARTS SAY.......................

Good Afternoon Stockhoppers, I am writing this about an hour after the close, and after looking at the charts and how the market reacted today I am going to say we are going to have a good day tomorrow. Anyone interested in getting in on Ford Stock? May not be a bad time. Take a look at the Ford Chart above. It is hitting on resistance of and finished near the days high. I am calling it a buy if it hits 14.30 and it should tomorrow. Another good sign......look at the 13 day exponential moving average!! it is getting ready to cross up and over the 21 day exponential moving average!! that is very good news for the buyers.

The Dow Jones chart is looking like it is also ready to tread into new territory as well. Again look at the Dow chart. It is up against its resistance but bounced off the 13 day EMA and the 21 day EMA. Look for follow through on Friday. 12000 here we come.

Until next time...........Watch your Charts

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 Poised to move forward,GE to bounce up, Ford ?

Good morning Stockhoppers, Its Tuesday morning and all is well with the major markets. Looking at the Dow Industrial Chart this morning it looks like we will see a bounce off the 13 day exponential moving average. No surprise here it has done this several times in the last month(take a look at the chart). It is a good time to select your favorite stock that you have been tracking. I am thinking 11,200 here real soon!

Lets take a look at GE(I am currently short this stock at 17.93)I will be reversing my position if it does indeed bounce off the 13 day exponential moving average, which it looks like it is ready to do. So I will take my loss and move on, hopefully only to recoup it in the next couple of sessions. NOTE I am not chasing this stock. The chart is setup and telling me that it has a very good chance that it will indeed bounce off the 13 day EMA, otherwise I would be looking elsewhere to move my money.

As for Ford Stock, I see that this stock has not decided as of yet which way it is going. Look at the chart. It is just kind of consolidating a bit, meaning to me that traders are really undecided on the position they want to commit to ford. The good news is that it is showing support around 13.30. and notice the 13 day exponential moving average. It is forming an under belly of support and ready to move upward. Watch for the upward cross over of the 21 day exponential moving average, this will be a very bullish signal.

Until next time.......Keep Watching those 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!!!

Todays Stock Market Update-Ford Showing Weakness

Good Morning Stockhoppers, The major indexes are looking pretty good today. It looks like the Dow will bounce off the 13 day ema. 11000 is definetly in sight now. Take a look at the Dow chart. It went down to the 21day ema yesterday to move bounce back above the 13day ema, this morning it went to the 13 day ema and looks to be ready to move upward.

As you all know I follow Ford stock very closely. I have made many dollars following the ups and downs of Ford(mostly ups here lately)but I would be very cautious of purchasing this stock and if I currently owned it, I would be watching very closely as I feel it could retreat here within the next few trading sessions. The Reason, simple, the 13 day ema has just crossed downward across the 21 day ema.
Another reason is that during the recent market up days Ford has not been rebounding as it should. Use today for example. Market is up around 35pts, Ford is barely hanging on to gains, around .04. That shows weakness. I will stick with my recent prediction that Ford stock will see 12.25 with the next stop being around 12.00.

Hope all your trades are profitable and until next time....Happy Stock Charting!!

Todays Stock Chart Check-Update on Ford

Hello Stockhoppers, The Dow is taking a little time off here as traders look to be taking some money out and are a little nervous about the 11000 mark. The Dow chart is showing this morning that there is not alot to be alarmed about. It has not broke down its short term resistance nor is it down to the 21day ema as of yet. These are the two criteria that I am following right now to gauge the sentiment of this market.

As Far as Ford stock goes, take a look at the stock chart. It is, up to this point doing exactly what I blogged about a couple of days ago. I said it will hit 12.25 with a chance of 12.00. Keep watching this stocks 13day and 21 day ema, as you can see it is crossing in a downward direction with the 13day crossing down over the 21day, a very short term bearish sign for Ford stock. Part of what the stock chart is telling us is that other auto stocks are coming out with decent to good news, so traders in this sector are buying else where.

My active trade is (I shorted 500 shares of GE at 17.93)I am holding that position as it is under the 13day ema and should at least go to the 21day ema. I am watching this position very closely. If I see a better opportunity here and Ge starts new trend I will liquidate the positon and take the small loss. That is all for now
and 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!!

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!

Major Index Ready for Slight Pullback?

Good Morning, Take a look at the Dow Index Chart this morning. What is it telling you? To me it looks like we could be in for some retraction downward, heading back down to the Exponential moving averages today. Probably not a good day to purchase stock. It looks like it is going to fall back below the upper resistance level. So I am not even looking to purchase anything today.

As far as my active stocks. HCBK and NSM were both up yesterday midst a down market, that is always a good sign!! and they are both still hugging their moving averages in an upward trend, whether or not they will weather today's market will yet to be seen. Notice these stock charts as well. They are both still in a channel, there could be a good buying opportunity for these stocks when they break out, usually they will continue in that same direction for a few days, and if you position yourself correctly that is all you need to make a nice profit!! Remember I do not try to pick tops or bottoms, I will take my profit out of the middle then look for my next trade.

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!!

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

Buying Opportunities 2-16-10

This morning I looked at the overseas market and they are pointing to a higher open for our major indices. Hopefully we will start a new uptrend today, I am looking for the markets to get on top of the 13 day moving avg. Here are the possible buying opportunities I identified.

HCBK(above)- I have placed an order to buy 1000shares on a move above13.27, notice trading above 13 and 21day avg. looking for follow through.

LEG below)- Here the stock is bouncing off support levels, I believe it will move back toward the avgs. I would be watching very closely as it does reach the avgs. to see if it will bounce back but there is profit to be taken in between. I would be looking at a buy here above 18.87,but again keep an eye out as it reaches the avgs.

IPG(right) -Trading with upward momentum and above the 13day ema(exponential moving avg), it is bouncing off support levels and looking for a follow through above the 21 day ema today. I have put in an order to buy 1000shares when it moves above 6.82

Remember charting stocks is not an exact science. I look at it as more of an art. Follow these charts and see how I do.

I may be in these stocks for a day or 10 it all depends on what the stock charts tell me.

Until tomorrow.... Happy Charting

Stock Market for Beginners

Since the markets are closed today in observance of Presidents day, I thought I would give some tips of how to get into and get yourself prepared to trade.

1st thing I did was get a good book on charting,( you can google info) get definitions of different charting tools and how they are suppose to work, I will not recommend any one specific because they are many good books, what I would recommend is don't buy one that is selling their specific system. Get one that talks about all the different charting tools and the different chart formations, along with support and resistance information. This will give you a good idea of what the world of charting stocks is all about.

2nd thing , START CHARTING(Freestockcharts.com is a very good site and its FREE) different stocks, apply some of the information that you researched, you will start to notice trends. Start out simple using moving averages(really that is all I use today) I do recommend the 13 day and 21 day exponential moving averages. Add some different tools and get use to the terminology. ALSO JOIN IN ON BLOGS LIKE THIS. It is a great way to talk and converse with everyday traders who will give you honest answers and share their experiences with you. Everyone can gain by doing this whether your a beginner or a more experienced trader. Remember you never quit learning!!

3rd Thing, Start to look at different discount brokerages. There are many good ones out there. I happen to like Scottrade it is only $7.00 per trade and it gives me the tools I am looking for, again do your own research on these. With most of them you can set up a practice trading account they will put play money in and you would trade with them as if it were real. This is a big help because it gets you use to how to place a trade correctly.

How Do I fund My Account When I have no Extra Money? This may be simpler than you think. Most discount brokers want somewhere around $500.00 to get started. You can start out by just sending them money when you have extra and use this time to practice while you are building up to meet their minimum amount to actually start trading. I started out with $2000.00 in my account. I got extra money from selling things I no longer used or wanted on ebay . You can have a garage sale( I used this method as well). See there are many ways to fund your account when you are ready to start trading REAL MONEY.

I hope you found this helpful, if you have any questions I would be happy to answer them, just send me a post. Until next time...

Happy Charting