August 28th, 2008 richk
I am not heavy trading in last few weeks. I did only few trades with mixed results. Volume is too thin to trade.
I like idea of short gold trade. I plan to use Gold Ultra short ETF for this trade again. Now I need to see gold futures to make pullback up to 845 - 850 area. There I want to enter this trade. I expect new declines in gold.
There are not only reasons based on technical analysis but also some fundamentals are backing this my opinion. I am bearish on commodities in near future a lot.
Posted in ETF analysis, ETF trade setup, Stock chart analysis | 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 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 »
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 16th, 2008 richk
Financials are not very popular during last year. But not all financial stocks are hated. Some of them are attracting investors and very quietly going up.
NYB is one example. Notice that this stock is in healthy uptrend . Bullish stock chart pattern is forming on daily chart - bullflag.
And there is bullish stock chart pattern - cup - on this weekly chart.
Posted in Stock chart analysis, Stock pick | No Comments »
June 14th, 2008 richk
I noticed that DBA has broken from longer consolidation and is now heading to new highs.
I think that DBA could reach 43 and then 47 as possible targets. I am watching for any pullback for possible entry.
Posted in ETF analysis, ETF trade setup, Stock chart analysis | No Comments »
June 11th, 2008 richk
I noticed that NMX has broken important support area few day ago. Now this stock is very slowly going back into area of former support now acting as resistance.
This pullback to 87 - 88 area will present nice shorting opportunity with targets near 75 area with very good risk reward ratio.
Posted in Stock chart analysis | No Comments »
June 5th, 2008 richk
I monitor WYNN stock for few weeks already. I noticed on weekly chart that WYNN formed huge Head and Shoulders stock chart pattern. Right shoulder is also presented on daily chart by big pennant stock chart pattern.
During last few days WYNN is trying to break from this pattern. Situation is telling me that new drop to 80 area is very possible. I opened small short position already and will add in case of confirmed breakdown .
Posted in Stock chart analysis, Stock pick | No Comments »
May 15th, 2008 richk
Well, I did not expect todays strong rally after yesterdays negative performance. Markets are mixed . What to trade ? Definitely Nasdaq100 is long biased - big technology stocks are leading market.
On the other side there are several laggards. Stocks like CME or DNA look weak and are possible stock pick for short into rally near important resistances.
Posted in Stock chart analysis, Stock market comment, Stock pick | No Comments »
May 14th, 2008 richk
Based on request from my reader Dave I did stock chart analysis of SSRI.
From my point of view SSRI has broken important support area between 28 - 30 . Now it is correcting back to this level acting as resistance now. So for me it is short trade opportunity with entry in area 28 - 30 and stop above 30.80. Target for short I expect near second important support level near 18 USD. This trade setup is preferably for position trade as it can develop few weeks I think. As you can see this trade setup has very good risk reward ratio.
Posted in Stock chart analysis, Swing trade commentary | No Comments »
