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Weekly update on the downtrend -- (SPX)

We are now six weeks from the market high when SPX touched 1220 on April 26th. The important levels to watch on any bounce are all coalescing around the same area; the top of the trend channel at around 1110, the 200 day moving average, which has provided strong resistance in the last week is […]

Why you shouldn’t fall in love with a stock — (TLAB)

This chart is a good example of why investors shouldn’t fall in love with a stock that has treated them well — the inevitable breakup can be nasty indeed!

A buyer of Tellabs around New Year had plenty to crow about, especially after their earnings report in April — but that gap filled in a […]

Patience is a virtue — (LOPE)

I should have waited until the end of the day to pick up my LOPE — looks like its hanging in there right above long term support at $24.

It was disappointing to see no late session bounce (in this issue or any other) but we can only work with what we have.

Have a […]

Another jobs report bounce candidate -- (CPWM)

It took over an hour to get my limit order filled in this thinly traded issue (a West Coast discount store), but I wanted some more upside potential if there is a jobs report counter-bounce ….. maybe around 3:PM today, perchance?

CPWM was an idea purloined from Charles Kirk’s subscription site the Kirk Report, where […]

Jobs report trading -- (LOPE)

Jobs report trading will surely be the death of me . . . . But back to the well we go, looking to reprise the most successful trade to date on this site with 500 shares of Grand Canyon Education (LOPE) purchased at $24.60 once things calmed down a smidgen.

The idea here is […]

Shorting time at the Mine? — (MFN)

I’m not super interested in putting on positions just prior to the jobs report (which always seems to kill me), but I’ve been wondering today if MFN makes a good short again: I draw the resistance line (black) just a little bit lower than FINVIZ, which if it holds this morning might be a nice […]

Double short Brazil? Its all in the eye of the beholder — (BZQ)

Another woulda-coulda-shoulda story, if only I had followed my own March 12th advice and kept an eye on BZQ, some nice profits were to be had buying a breakout over $25. As for the current situation: There are two ways I look at this chart, leading, of course, to opposite conclusions. The double top speaks […]

Has Supervalu come full-circle? — (SVU)

I like to take a look at this one every once in a while — supermarket chain and former takeover target Supervalu — and right now its looking interesting on the long side again.

We might see an inverted head and shoulders form to go with the double bottom — bullish stuff indeed, although the […]

Is it news or technical analysis? — (BP)

Fascinating chart of beleaguered BP, which raises the eternal question of whether fundamental or technical factors are primary in stock price swings. Obviously, BP has been dominating the news lately, with the latest failure to cap the Deepwater Horizon well causing another 10% haircut this morning.

But was a drop fated anyway by that massive […]

Starting off June — update on the downtrend — (SPX)

Back to the markets after the holiday weekend, and it’s not too pretty out there already! Assuming you are the glass-half-full type that is. As I am relentlessly neutral, here is how I see the downtrend: We are more than a month into the downside now, so this is not really a short, short term […]