Friday, June 22, 2012

Facebook Bullish Pattern

I may be crazy but I see a cup and handle formation on $FB. Today's volume was almost 2x the 20day average. I am looking for a breakout above 33.75 to confirm this pattern's bullishness.

Thursday, June 21, 2012

Retail stocks rolling over

This is a look at the XRT that tracks retail stocks. There is a pattern of lower highs and break of key support on volume. I'm looking to hit certain retail stock hard to the downside.

Short Set-up NIKE $NKE

$NKE clearly breaking down. After making a 114 high, it failed to climb higher making 3 successive lower highs. After falling through the 200ma on volume this stock is clearly headed lower.