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Strategies & Market Trends : Chart Formations

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To: Casaubon who wrote (949)	9/7/2007 5:12:01 AM
From: sean sanders	Read Replies (2) of 967

Casaubon, A few comments on your stocks FCEL - Dont remember what your holding times are - Daily chart looks like this is a real good long term buy; nice rounding bottom. Recent price action was nice; the 60 min chart shows we may have a slight pullback but I cant figure out how far. OVTI - looks like another great pick for a long term hold. Nice large h&s bottom on the daily; breakout level is the 19.2 area. 60 min chart shows a large gap with a large red candle - then we breakdown and then follow with a decent sized white candle. So I would expect it to hold above the base of the white candle - if it doesnt well hit the 19.2 level. But overall this is a good one - IMO one of those stocks you hold onto for 6 months and make 50%+ (unless of course we breakdown below the neckline). VRTX - m1.freeshare.us let me know if you cant see the chart. This is what I see. Weekly chart So when you look at a weekly chart you see a potential cup and handle or a basing period then a run up then a 'flag' type formation. When you knock it down to the daily this could turn out to be a h&s top or maybe not even just something that heads back down again. So if it were me I would try to figure out where my stop is where my near term target is and pay close attention to those. Ie we just had some gap up days with the last day being a shooting star(not much worth in amoung itself). The trendline I drew doesnt hold too much merrit since I am not basing it off much. ATM I'm playing with some option trades ie BA and DD calls got in 2 days ago. I like BA alot DD is so so. Basing my trades off the 60 min charts. BA I expect it to hit 99 and with a potential to hit 103. DD is worth about 2 point if we break. ie enough to dbl or triple the option. Sean

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