Stock Market Rally in Store

Good Morning Stockhoppers, Earning reports still keep coming in mixed. Major indexes have been correcting a bit. One thing I notice with these markets here lately is that they will be down big during the day and come back at the end of the day, maybe not into positive territory but all the same they do rally back at the end of the day.....

What does this snap back tell me? The rubber band is not broke. The traders still believe in this market. Fundamentally the earnings have not been that bad. Many positive surprises. TECHNICALLY though...

Technically speaking this market is ready to rally!! we should see 3 to 4 days of gains here next week. Many stocks will rebound. After staying up late Friday night I analyzed the stocks that are poised to take full advantage of our mini rally forthcoming. Here they are!!

MBI - @ a break above 8.97 Earnings are coming out on Monday so trade accordingly, by the way they are suppose to beat estimates.

ETFC - @a break above 15.40. News has been neutral but traders taking interest here. Check the volume.

RF - @ a break above 7.51. News here is neutral,set up beautifully... technically speaking.

Yhoo - @ a break above 14.44. Another technical set-up. I guess it would help if deal with Japan comes through.

These are my picks to have large percentage gains. Others that you may want to put on your watch list are: ZION,DFS,HST,FTR,F,GE.

Hope these prove profitable for you and until next time......Chart wisely today!!

Signed

Master Stockhopper

Stock Shopping List

Hello Stockhoppers, I thought I would pass along a list of stocks that you should at least put on your stock shopping buy list as they are poised to advance on momentum. Here is my Stock Shopping List as of 7/24.

Low - break above 21.37
dhi - break above 10.99
cbg - break above 15.31
kg - break above 8.91
hrb- break above 15.36
df - break above 12.16
tlab- break above 7.75
tsn - break above 18.09
wmb - break above 19.84
ipg - break above 8.34
nwl - break above 15.93
amd - break above 7.94

I hope this helps you in your search for the next big mover. Until next time, I hope all your stocks are moving in the right direction.

13 Day EMA DID NOT LIE-Look at the Major Indices

Good Morning Stockhoppers, In my last blog I stated that the 13 day EMA was telling us a SHORT STORY here we are on Tuesday morning wondering if the major indices will find support levels. We have been this low recently, the major difference is that in the past when we got to these levels we ended the trading day up near the days high. Take a look at these index charts.

You can see that the indexes are poised to move lower and break major support levels. The floors are starting to creak and rattle. If it gives way we could be looking at a major windfall, freefall.... call it what you will. I hope you are watching your trades very carefully, and are not staying with the ole buy and hold strategies.

Today will be a very pivotal day. Stay Tuned and Chart Wisely Today!!!

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 somewhere..be 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.

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

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!!

Dow and Ford - I told You!

Good Morning Stockhoppers and what a good morning it is turning out to be for the major markets and our spot light stock.....Ford, As I told you in a rare afternoon blog, that I bought 700 shares of Ford stock at 13.77 and it was tuned up for another good day today...well it is doing just that. As of this blog it is up near its high of the day around 14.14. What do we need to watch for now? Lets take a look at the Ford stock chart above. Notice that it is reaching a short term resistance level. So depending on your trading strategy, you may want to watch closely to see if it will bust through this resistance or bounce off resistance and pull back and rest before it makes its next push.

Notice the 21 day exponential moving average. It has flat lined which may mean a little pull back. The good news look at the 13 day exponential moving average,it is getting ready to cross up,over the 21 day EMA,very bullish signal here.

Now just as importantly lets take a look at the Dow Jones Industrial Average. Its is moving along nicely up the 13 day and 21 day exponential moving averages. Notice in the chart above that it is running into a little short term resistance at around 11150. Very similar chart to that of Ford. Overall market looks steady and strong.

I hope all your trades are are going great! and until next time....Study the Charts!!

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 Market Check-Profiting From TER

Good Morning Stock Hoppers, It was a good day yesterday my read on TER was right on the MONEY, looking for a little follow through today and will then take profit. I will be watching it closely.

The thing that has me thinking PULLBACK is that so many stocks are too far above the 13day and 21day EMA. Things will pull back here shortly. So to put my money where my mouth is I did put in an order this morning to sell short 500 shares of GE at a break down below 17.92, the reason...... it has screamed so high so quickly that there should be profit taking and an easement back down to the moving averages. I will let you know how that goes.

Take a look at my HCBK trade will be taking profit from there today as well, that has been an excellent trade. Well until next time....Happy 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!!!!

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!!!

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

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!!!!

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