Tuesday, May 26, 2009

Lear Corp.

Lear Corp. (LEA) is sitting on support on the 21 day moving average(yellow line). This could jump up to $3.90(white line 200 dma) very fast, or down to $1.11(blue line 50 dma). I'd play it tight and use a stop loss at 1.40.

Umm Umm Good

Campbell Soup(CPB) is looking Umm Umm Good! It found support on the the yearly s1 pivot(blue circle) last month and had great earnings today. Looks like it has bottomed and now new investor's are coming in. First resistance is at $30, I would use a stop loss at $24.

Monday, May 25, 2009

nothing has changed since last week

The S&P closed last week on the 21 day moving average, just like the week before. We are still holding support (the yellow line), and there is no sell signal yet. Resistance(sellers) is the white line(200 day moving average) at 935, and Support(buyers) is the blue line(50 day moving) at 850, in the coming week(s). We are currently in the middle of the two.

Friday, May 15, 2009

S&P testing support

The S&P closed the week on the 21 day moving average (the yellow line on the chart). It was down 5% this week, which started on a full moon. Back in March, when the index went above the yellow line, it has stayed above it(21ema), during this 2 month rally. If it goes below this line, that will trigger a short term sell signal, and next support will be at 850/825. If we stay above this yellow line, the rally will continue to 935/950.

Wednesday, May 13, 2009

Gold at Resistance

Gold hit the Monthly R1 pivot today and filled an open gap from April 1st. at 928.

Oil at resistance

Crude oil is close to monthly R2 at $60.28.

Friday, May 8, 2009

Bradley Model

The 2009 Bradley Model said this rally would start on Feb. 8th., it missed it by a month. This rally started on March 9th. It did get the scope of the rally correct and says we will top out on July 14 or 15, give or take a few weeks, maybe even a month again. Then it says look for a 50% pullback mid to late summer. I have been using the Bradley Model for years and is uncanny accurate. I have also noticed that IF the market is going to change direction, it usually happens within a few weeks of Quad Ex(Mar, Jun, Sept, Dec options expiration).

Wednesday, May 6, 2009

Beware of the Full moon

We have a full moon this coming Thursday/Friday. How many times have we seen the market change direction around a full moon? More times than I can count!

Tuesday, May 5, 2009

Verenium Corp.

My Favorite Pattern......gap up after a long base after a big sell-off. The buyers are back in VRNM, looks to be a fast double. Use the middle of todays candle(about .40 cents) as your stop and sell 1/2 at $1.05 ish.

SRZ targets

SRZ 's chart is a beauty. Just starting to breakout of a long base. The white lines above are weekly pivots and the green lines are the monthly pivots. Look for resistance at the pivots and buy pullbacks! Hang-on, this is going higher. Use a close below $2.00, as your stop.

Gold trend

Look how gold has used the 20 month(yellow line) moving average as support, for the past several years. The only time it dipped below the 20 month moving average was last fall, when the financial markets blow up. It now is back above the 20 month, after making a double top at $1,000. Use a close below $860 (the 20 month) as your stop, if your long.

Monday, May 4, 2009

TAN solar Etf

TAN is a solar ETF of differant solar manufacturers(First solar, SunPowers, etc.) and like many stocks is breaking out of a base. First target is the white line above at $12.00.

UYM Building Materials ETF

UYM is an ETF of Building material stocks(Alcoa, Dow Chemical, etc) and is now breaking out of it base. Use a stop on a close below $17.oo