Monday, January 23, 2012

Wednesday, January 18, 2012

Financials are at resistance but are a buy: $XLF, $BAC, $C

The one area I would consider buying is financials. The $XLF is at resistance but on the weekly chart there is a bullish cup and handle forming. Any pull back in financials is a buy in my opinion. $BAC and $C are strong buys right now.

Tuesday, January 17, 2012

Market Analysis - Are the markets due for a correction?

Major Indicies all right around resistance. Starting to look unsustainable at these levels. Bearish wedge patterns forming could be an indication of a correction. I would welcome a pullback at this point and will be a buyer on any market dips.

I'm holding the positions I currently have. I'm not opening any new positions. I'm just waiting for another buying opportunity. My near term outlook is bullish.

Saturday, January 14, 2012

Trade Set-up: Netflix

Potential good set up with measured risk. Place a stop just under support. If the market moves this up on Tues above the intraday close, I think this is a buy. Look for overhead resistance once price levels close the gap.

Saturday, January 7, 2012

$WYNN, Another Shorting Opportunity

50ma acting as resistance. 
Weekly outlook is bearish starting the year with a bearish candle formation.

$GLD Headed Lower?

200ma coming into play again.

A strengthening dollar could spell trouble for gold prices.

Retail Buy: $AMZN Making a comeback?

Looking for a short term bounce-back after a lot selling.

Cheap Buys for 2012: $LCC, $NBR, $DUK, $ZNGA

2 trading ranges. Looking for a breakout from the lower one.

Daily chart looks like the stock has bottomed and getting a nice bounce.

Potential longer term bullish outlook.
Great uptrend, buy on the dips, even if it goes down more, I'm a buyer.
This gaming company is profitable. Might be a good opportunity at a low price.

50ma acting as support will see if this becomes a nice uptrend.