August 7th, 2008 richk
I am not very active this week. FED meeting was one reason. Low volumes during last 2 weeks is another. I do no see this up move as very bullish. I still see it as possible short selling opportunity.
Especially European indexes are weak link. Check DAX, FTSE, IBEX etc… They will drop much more then US markets I think.
But as US markets are my main place for trading I preferably watch them. And I found relative weakness in Industrials sector. So I have prepared list of potential short swing trade candidates from this sector. It is also possile to trade it via Short ETF for Industrial sector.
Posted in ETF analysis, Stock market comment | No Comments »
July 27th, 2008 richk
I have noticed nice chart of KG. You can see that this stock is going to try to make breakout of 12 - 12.50 area. Target area is in 16 - 18 area.
Posted in Stock chart analysis, Stock pick | 1 Comment »
July 24th, 2008 richk
I mentioned basic materials sector already as bearish trade opportunity.
Now it looks like this whole sector is headed down which means that Ultra short ETF tracking this sector can make breakout. See situation on chart
Posted in ETF analysis, ETF trade setup | No Comments »
July 22nd, 2008 richk
I monitor several coal stocks. They started to show important weakness. I think we could see one more move down in this Coal sector.
Posted in ETF analysis, Stock chart analysis | No Comments »
July 17th, 2008 richk
I have noticed bearish action in Basic Materials sector. This sector was one of strongest in past months. It looks like huge profit taking in this sector is taking place.
I noticed bearish chart pattern forming on chart of XLB - Basic Materials ETF.
Posted in ETF analysis | 1 Comment »
July 12th, 2008 richk
It was wild action on stock markets this week.
But I have to say that I feel that US markets want to pause in declines. I have noticed several signs during this week which point me to this idea.
I noticed that SP500 and Nasdaq are not moving down too much. They are already in area of support levels. Only Dow Jones Industrial as weakest one is still dropping. But area around 10800 - 11000 should work as support area and stop this drop of DJIA.
The strongest is Nasdaq (based on relative strength measurement of my analysis) . You can notice that volume associated with bullish candlesticks is higher then with bearish. I feel it as signal that shorts are being covered.
And therefore I am preparing small longs in technology area in strongest sectors and strongest stocks.
Posted in Stock market comment | No Comments »
July 9th, 2008 richk
As I mentioned in my newsletter, supports finally hold markets and allowed them to move up.
My long entries in biotechnology stocks mentioned in my newsletter moved well together with announced drop in Energy sector (I am still long DUG and short some Energy names).
Biotechnology sector is only one that is worth watching for long trades. It is strongest one in current market situation. See chart below.
Final notice: we are still in downtrend so I plan to wait a day or two for new short trade setups in weakest sectors.
Posted in ETF analysis, ETF trade setup, Stock market comment | No Comments »
July 2nd, 2008 richk
During my regular stock chart analysis I noticed that Energy sector could be forming important top. There is possible to find something like head and shoulders stock chart pattern. This is bearish sign.
There are also negative bearish candlesticks on weekly chart during last 5 weeks or so.
I think we can expect significant correction in this sector. I prepared ETF stock trade setup with Inverse Ultra Short ETF for Energy sector - DUG - for such case.
Posted in ETF analysis, ETF trade setup | 1 Comment »
June 28th, 2008 richk
I noticed relative strength in Biotechnology sector.
Here is one example of nice bullish stock chart for possible long swing trade strategy.
Pullback can be used for entry of stock trade with good risk:reward ratio.
Posted in Stock chart analysis, Stock pick | No Comments »
June 25th, 2008 richk
I mentioned yesterday that there is Ultra Short Crude Oil ETN (like ETF).
There is also Ultra Short Gold ETN :
DB Gold Double Short ETN(Symbol: DZZ)
I will monitor this ETN as I have bearish view to gold based on principles of my stock chart analysis and so I could use these shares to enter ETF short swing strategy trade. I expect that gold is going to drop to 800 USD area.
Posted in ETF analysis, ETF trade setup | 2 Comments »
