Even St. Paddy Is Long

“Murphy told Quinn that his wife was driving him to drink. Quinn thinks he’s very lucky because his own wife makes him walk”.–A Leprechaun somewhere It was a fun week, the indices ripped, the S&P closed above 1400, $AAPL tagged 600, the transports (IYT) found a bottom and the financials exploded through resistance. All is [...]

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Short Thought

{+++}I want you all to have a relaxing weekend, but wanted to share a chart that may be right for a short next week. I will talk more about it on the Sunday video. So far this one looks like a rising wedge to me (bearish) and if it breaks the uptrend line (white line), [...]

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The Transports Bottomed

The other night, I did a post about the power of trendlines, specifically “uptrend” lines that were broken, leading to much lower prices. Tonight, the focus is on downtrend lines that get broken to the upside. Very powerful, especially if the trend line is broken with significant volume. There is no better example of  a [...]

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Why I Draw Trendlines

Sometimes trend lines and moving averages work the same way. Occasionally I will draw an uptrend or downtrend line and notice that it is amazingly close to a key moving average. So on the charts below I took out the moving averages to show just the trend line. Less noise. Many times it can be [...]

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The Wrap 3/8/12

{+++} The bulls got their follow through day today. The market felt stronger to me than it actually was as the indexes did well, but didn’t explode. Tomorrow we have the new jobs number for February. Gallup had a poll today that said the real rate of unemployment is still about 9.1%. They did a [...]

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The Wrap 3/7/12

{+++}The bears couldn’t manage a follow through day today and the bulls regained the hill for now. We did a quick day trade in AKAM and I am formally adding it to the swing list tonight. This is a short post tonight, but I added a few longs including PSMT, TRMB and CRR. The one [...]

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The Wrap 3/6/12…..Finally

{+++} The indices broke today. In case you were away, I posted the main charts at the bottom of my post tonight tonight. So the bears had a decent day, the bulls sit back and laugh with a goblet of wine in one hand while waving a giant turkey leg in the other while having [...]

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The Wrap 3/5/12

  {+++} The S&P missed touching the 20 day moving average by about buck today. It almost hit the level, then managed a bounce, but closed right below the 10 day moving average. Basically another choppy day. What we are seeing though is sector rotation. The same money is moving around, but entering and exiting [...]

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