A weekly chart clearly shows a downward trend that is just couldn’t get past. As of right now I feel if the DJI closes below 8355 it would be a clear break to downside i.e. the next leg down in this bear market. However we just don’t know what they will attempt to prop this market.
Party Over ??
July 2nd, 2009Topped Out
June 17th, 2009My gut is suggesting that we have ran out of gas. The last time I posted the bounce was off by a few days, and what a bounce that was!
A few more days like the past few and will see some downside. It was getting to the point where crap was floating to the top. One example that comes to mind, KERX from the lows of 9 cents to a high of 1.58 in 15 weeks. Anyone holding it hopefully took profits if they held it on the way down and back up from .50
On Monday when I saw the official close of the Dow I had to chuckle -187 (murder) because it looks like a cliff pattern.
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p05960451413
Keeping an eye on FAZ
http://stockcharts.com/h-sc/ui?s=faz&p=D&yr=0&mn=6&dy=0&id=p05960451413carrier to noise ratio
as the Dow appears to be rolling over FAZ seems to be ready for something. I’m not a fan of these financial instruments but it looks attractive.
These are some crazy times we are living.
It’s very hard to believe yet another year has passed…
March 4th, 2009I woke up this morning to find out that my domain name was to expire today. After giving it some thought, I decided to renew the domain even though I haven’t done jack in pretty much a year. I don’t expect much from these markets anytime soon. I will say and it will probably bite me pretty hard, we are due for a sharp rally upwards. It could come as soon as today. I’m not saying we have seen the lows, as I expect much more downside in the future. Things are just down right nasty out there and I don’t think we have seen any light at the end of the tunnel.
As for stock plays, there is just way too much risk for my liking. Maybe if we have a major sell off in the indices (straight down) I’ll roll up my sleeves. I just don’t ‘trust’ these markets, you never know what will be said during the day change the direction of the markets intraday. I think I have better odds at the casino :(
Markets – I walked away – Update
October 7th, 2008Man, I’ve never seen anything like this….. I just watched the debates, so depressing, is this really the best we could come up with?
As for the markets, I’m looking for support at 8600 on the DOW but I do have my doubts it will hold. I really don’t know what else to say. I’ll add more later on.
edit 230am
I’ve been watching kdenninger videos for sometime now and would like to share this video
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Watchlist for 3/29
March 28th, 2008I’m starting this one a tad bit early, week isn’t even over yet. I’ll complete this post over the weekend but I just wanted to make a note/reminder on (NASDAQ:TXCC) I’ve been watching this one for close to a month now (Watchlist for 3/6/08) It hasn’t done much of anything, today it looks like it wants to do something if volume comes in. I’m just watching unless I see a volume surge.
компютри втора употреба
3COM – COMS
March 27th, 2008Well here is the 1st post on something I think has a chance in the current market, 3COM symbol: (Nasdaq:COMS)
For some who have known me off of Yahoo’s “Markets Overbought” forum, I have been for the most part very Bearish since the Spring of 2007. And for the most part right on target in regards to the markets. Just about everything has taken a beating and especially in the lower tier issues that trade under $10/share.
This week I took a position in 3COM, or as I’ll refer to under its symbol: COMS. The stock trades on the Nasdaq Nat’l Market. The recent vertical plunge to the $2 level puts COMS into a very oversold condition. The movement to the downside is related to the failed buyout for $2.2 billion. It involved Bain and co., and a Chinese partner. The buyout was blocked by the U.S. Gov’t due to COM’s certain products, which the company sells and could be used by the Chinese military, etc., You can read some of this from this link:
http://biz.yahoo.com/ap/080321/3com_buyout_vote.html?.v=5
Be that as it may, the technicals appear to have reached a very oversold level, that’s what attracted me to COMS. The chart appears to indicate forced liquidation, which generally if not always produces these types of daily swings. Some indicators are not confirming the recent values, iow a failure swing, which is bullish. Therefore, I rate COMS as strong buy at this time. From all available data COMS could reverse up “in the same way that it crashed”. As far as fundamentals? Recent Q the company reported higher sales and a profit of 8 cents.
http://biz.yahoo.com/ap/080324/earns_3com.html?.v=1&printer=1
Good luck to one and all. I’d like to thank set4 for the invite to this site and hope that I might contribute a thing or two about trading, market insights, and the economy as time permits.
Good morning to one and all…eom).
These markets and the Fed
March 15th, 2008If anyone hasn’t seen this video, I think its a must see.
Jim Rogers
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KERX
March 12th, 2008(Nasdaq: KERX) Position opened at .65
Stock had a major haircut, looking for a bounce play.
edit 11:10am est
At December 31, 2007, the Company had cash, cash equivalents, investment securities and interest receivable of $64.7 million. 43.6 million shares outstanding.
I’m thinking the risk to reward at .65 is decent. Watch % gains, don’t be greedy:)
Watchlist for 3/6/08
March 6th, 2008It’s now 12:45am EST and I’m going to flip through hmmm I don’t know 400 stocks priced under 2.40. I haven’t updated my database in over a month and I’m sure many new stocks have entered my area of expertise.
Edit(not bad only 324 stocks that are under 2.40 and the 30 day avg volume is greater than 20,000 shares) which equals 10% of the nasdaq stocks – also included is some warrants.
CRGN
January 31st, 2008(Nasdaq:CRGN) Position opened at .74-.75, stock is starting to lift right now, I wouldn’t chase it but if it comes back down I’ll be nibbling some more.