RumorDude]
Mon Dec 16, 6:16pm PST $GOX.X
I only see a confirmation of a successful symmetric triangle here, but a small pullback could be in order to correspond with the upticks in the market today. For now, I will call this a response to the higher VIX reading but otherwise uninteresting and I still expect january to be miserable. Sold Dec 60 $GOX.X calls earlier today
[madtrader]
Mon Dec 16, 3:54pm PST $OEX
$DJI
Humm. Looking at 60 minute charts after the close, and something sort of jumped out at me. Low volume rally gets bulls worried, but there might be something else that is forming that can cause a lot of trouble. Where the market closed, these two indices are also near some short term resistance. OEX 465, DJI 8625. On 60 minute charts, they are both forming an expanding triangle of sorts. These are bearish patterns. So the agenda is very clear tomorrow. Break through 465, 8625 or both are likely to retrace down the lower portion of the expanding triangle. So the deciding direction will probably come early, since both indices are not far from those levels. none.
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[madtrader]
Mon Dec 16, 2:41pm PST Bullish engulfing
After 2 weeks worth of slide, the market went up with lousy volume. So the pundits are left wondering if this is the real Santa Claus rally. You can trade the bounce with a tight stop in case you aren't convinced. My attitude is that this is prime mark up type of rally. Regardless, there are enough bullish engulfing patterns out there from stocks that had corrected to convince me that at least, on select name basis, we have a tradable rally. Here are some names with decent volume (unlike the general market): CHIR, WFT, FOX, TMCS, TIF, SBUX, PAYX, NVLS, CELG, GP, DELL, WFC, MDT, GPS, CTAS, KRB, UTX, COCO, TJX, JNJ, APD, ALL, COL, GS, DOV, SPLS, LOW. As you can see, it covers a wide range of sectors. none.
[madtrader]
Mon Dec 16, 12:18pm PST NXTL
Another Bill Miller name that will certainly get a lot of mark up. Broke the short term down trend today with that gap up. long NXTL.
[madtrader]
Mon Dec 16, 12:14pm PST AMZN
Held up well during the 2 week market pull back. The biggest winner of NDX names this year. NO doubt it will get a lot of mark up ahead of the new year. long AMZN.
[madtrader]
Mon Dec 16, 12:13pm PST NEM
RGLD
Adding to my gold shorts here. Gold spikes, and this is all they can muster? A nasty bearish divergence here. short NEM,RGLD.
[madtrader]
Mon Dec 16, 8:26am PST $COMPX
Finally reversing above the down trendline that started on Dec 2nd. Of course, Friday's lows was also near daily 38% retracement level. Is this the start of the Santa Claus rally? I think so. none.
[madtrader]
Mon Dec 16, 6:46am PST NEM
RGLD
Should correct the recent parabolic run here. short NEM,RGLD |
