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 »
February 20th, 2008 richk
As I mentioned in my newsletter Nasdaq-100 is weakest market index . And it was Nasdaq-100 which was first in red yesterday.
I had GOOG on my short trade setup list and I entered trade yesterday. It was sold off right from first minute of trading. So I use 5min low strategy to enter partial of position and then my trade setup entry point for rest of position. I am now short GOOG and I expect that it will break down 500 and will go lower to 360 - 420 levels.
Posted in Stock chart analysis, Stock market comment, Stock pick, Swing trade commentary | No Comments »
January 18th, 2008 richk
It looks like everything is selling out. No upside correction, just selling. It takes several weeks already. I feel that entering new short trades is more risky now. The only setup I was able to find is breakdown of trendline in Telecoms ETF - TTH (Telecom HOLDR).
And is something worth buying right now ? Yes it is. I closed yesterday nice long trade in GENZ. And actively monitoring some other biotechnology stocks like GILD, MATK, MYGN and MGLN.
This biotechnology sector is really strong sector right now. Look at XBI (S$P Biotechnology ETF) or IBB (Nasdaq Bio ETF), both look bullish to me.
Posted in ETF trade setup, Stock chart analysis, Stock pick, Swing trade commentary | 1 Comment »
January 5th, 2008 richk
Short trade in XLY (Consumer services ETF) worked well. As you can see it was classical example of descending triangles chart pattern (or inverse cup with handle).
I opened trade 2.1.2008 and closed yesterday right at my target - 31 area.
Posted in Swing trade commentary | No Comments »
