Here’s another long setup for the eternal optimists, as for-profit education play Grand Canyon forms a tight bull flag. Tough part here is where to place the initial stop; the 50 day SMA at $23 has too much risk attached if you are only shooting for $28 or so on the upside.
With today’s rebound (itself a miniature melt-up from first hour lows) the SPX has now spent 31 trading days, or if you prefer, 44 calendar days, without dipping below 30 on the RSI (2) indicator — a feat that is pretty much strength personified: Another view that shows the amazing spring strength of 2010: Gotta […]
I forgot to do a followup on Super Valu yesterday; it looks like cup-with-handle buyers have yet to be rewarded, as the buyout talk of early March has apparently died down a bit. If you’re still interested in SVU as a long, the way to play this one now is to buy only on a […]
If the plastic shoes don’t float your boat, maybe a wicker chair might? Someone looking for a real aggressive swing trade in this environment might hope for a down day Thursday that would have Pier One Imports (PIR) test its 20 day SMA (pink line). If bought on a successful test, you would be […]
A large scale project at my job has kept me away from the trading wars for an entire week, during which time the market has done little but ascend to recovery highs: Traders who somehow pegged February 5th as a major turning point are looking pretty good, while the sidelined, like myself (for whatever reason) […]
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