Had a nice fall last week on the Daily charts where the 20day
EMA which was support is now firmly resistance. Infact I think it
broke down through the 50day aswell. 200day is around $22 with
Silver trading around $27.50. Still plenty of air between the 2
On the 60min, Silver looks like its bear flagging ready for
another push down
I have been shorting a whole basket of stocks over the past few
days. One of which is GNK which is down today and on reasonable
volume. I am not quite sure where its support is now that it has
broken this horizontal support line
have a look of the daily chart with standard MACD Settings. Neg
div confirmed and therefore I think the stock will struggle in the
coming weeks. It needs to reset here and let its Moving averages
catch up.
Averaging down is an option here
but I have taken the prudent stance of taking profits on all of
these “minnows”. There is just too much risk here with the market
being inflated and it will take a very strong stock to buck the
trend. They are so far extended over their key Moving Averages that
some form of mean reversion has to take place or a lengthy pause at
the very least. I am now in a defensive stance and my personal
watch list/scanner is searching for short opportunities rather than
longs
I am seeing intraday divergences on the 5min with up volume and
therefore see us pulling back. Can't post a chart from this PC but
I expect us to turn south quite soon for the day anyway
Theres lots of stuff i have done in excel with historical data
but if you want a quick ready reckoner on seasonality, just read
the bottom bit of mike burks report on safehaven called technical
market report. He normally gives a high level overview of the week
to come
BEC was doing well but recently broke its 20day. In addition,
there is a large unfilled gap and MACD is firmly headed down. Stoch
is rolling over down through 80 next week I would guess so a
revisit to the 50day is likely.
Seasonally, next week is a pretty difficult week for the indices
and I would not be suprised at all to see a pullback in the
indices
So some quick shorts I am looking at. A couple look stronger as
shorts than the others. CELG and CMVT look good plays to me with
UVV & MBT slightly riskier as shorts
RJN is the Elements Rogers International Index. Bit of a
mouthful. Its focus is Energy from what I understand. If its named
as one of the funds Jim Rogers manages then I am a fan already. He
is a guru. You won't hear him trying to be clever or talk about the
detail. He keeps it ultra simple. Its all about Supply and Demand.
I have met him and am a big follower
Anyway, enough about that. The fund looks like its been basing
for a while and whilst its not quite a classic Weinstein base that
Matt has referred to, it does look like its nudging resistance and
forming higher lows
I would probably look for a breakdown here in this stock given
that price may have formed a double top and MACD is firmly pointing
down and stochastics has turned down. Guess a break of support and
stochastics falling below 80 would be a good short trigger.....with
volume of course
On the flip side, if it breaks the upper channel then it could
form a divergent high
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Silver
Posted by vimal on 23rd of Jan 2011 at 04:02 am
Had a nice fall last week on the Daily charts where the 20day EMA which was support is now firmly resistance. Infact I think it broke down through the 50day aswell. 200day is around $22 with Silver trading around $27.50. Still plenty of air between the 2
On the 60min, Silver looks like its bear flagging ready for another push down
good picks Ditch for valid
FCX & BHP
Posted by vimal on 21st of Jan 2011 at 02:43 pm
good picks Ditch for valid shorts on the 13/34 break which looks like it will happen soon
Genpact
Posted by vimal on 21st of Jan 2011 at 01:58 pm
A quick possible 50cents here for a short in Genpact.
The short I posted yesterday is going great guns. GNK down 3% on the day.
I do think that we are now entering a time to look for shorts primarily rather than longs so thats my focus right now
...coupled with the bearish rising
SPX 15
Posted by vimal on 21st of Jan 2011 at 12:09 pm
...coupled with the bearish rising wedge eurusd chart to me shows potential for some downside.
nice charts!
USD and Euro Wedges
Posted by vimal on 21st of Jan 2011 at 11:58 am
nice charts!
10min S&P renko is also
GOOG- about to turn negative as well
Posted by vimal on 21st of Jan 2011 at 10:59 am
10min S&P renko is also about to turn negative. Not quite sure whats holding up the market above water here
GNK
Posted by vimal on 20th of Jan 2011 at 01:52 pm
I have been shorting a whole basket of stocks over the past few days. One of which is GNK which is down today and on reasonable volume. I am not quite sure where its support is now that it has broken this horizontal support line
support used to be the
I am looking to buy some SLV for long term ...
Posted by vimal on 20th of Jan 2011 at 11:17 am
support used to be the 20day MA. That is now resistance. Sell is my strategy with Silver until the tehnicals improve
have a look of the
LNG HOD
Posted by vimal on 20th of Jan 2011 at 10:50 am
have a look of the daily chart with standard MACD Settings. Neg div confirmed and therefore I think the stock will struggle in the coming weeks. It needs to reset here and let its Moving averages catch up.
Averaging down is an option
LNG
Posted by vimal on 20th of Jan 2011 at 09:52 am
Averaging down is an option here but I have taken the prudent stance of taking profits on all of these “minnows”. There is just too much risk here with the market being inflated and it will take a very strong stock to buck the trend. They are so far extended over their key Moving Averages that some form of mean reversion has to take place or a lengthy pause at the very least. I am now in a defensive stance and my personal watch list/scanner is searching for short opportunities rather than longs
Intraday Divergences
Posted by vimal on 18th of Jan 2011 at 11:25 am
I am seeing intraday divergences on the 5min with up volume and therefore see us pulling back. Can't post a chart from this PC but I expect us to turn south quite soon for the day anyway
Theres lots of stuff i
BEC
Posted by vimal on 17th of Jan 2011 at 03:17 am
Theres lots of stuff i have done in excel with historical data but if you want a quick ready reckoner on seasonality, just read the bottom bit of mike burks report on safehaven called technical market report. He normally gives a high level overview of the week to come
BEC
Posted by vimal on 16th of Jan 2011 at 04:12 am
BEC was doing well but recently broke its 20day. In addition, there is a large unfilled gap and MACD is firmly headed down. Stoch is rolling over down through 80 next week I would guess so a revisit to the 50day is likely.
Thats my take on it!!
Shorts
Posted by vimal on 16th of Jan 2011 at 03:24 am
Seasonally, next week is a pretty difficult week for the indices and I would not be suprised at all to see a pullback in the indices
So some quick shorts I am looking at. A couple look stronger as shorts than the others. CELG and CMVT look good plays to me with UVV & MBT slightly riskier as shorts
Bit more clearer on a
RJN
Posted by vimal on 15th of Jan 2011 at 07:49 am
Bit more clearer on a non log scale...
RJN
Posted by vimal on 15th of Jan 2011 at 06:33 am
RJN is the Elements Rogers International Index. Bit of a mouthful. Its focus is Energy from what I understand. If its named as one of the funds Jim Rogers manages then I am a fan already. He is a guru. You won't hear him trying to be clever or talk about the detail. He keeps it ultra simple. Its all about Supply and Demand. I have met him and am a big follower
Anyway, enough about that. The fund looks like its been basing for a while and whilst its not quite a classic Weinstein base that Matt has referred to, it does look like its nudging resistance and forming higher lows
Looks a reasonable short to
TSLA....possible short
Posted by vimal on 13th of Jan 2011 at 04:23 pm
Looks a reasonable short to me provided it breaks support which from eyeballing it appears to be around the 25 mark
CELG
Posted by vimal on 13th of Jan 2011 at 04:18 pm
Celgene is another stock I don't like and this one has potential for downside here
ASCA
Posted by vimal on 13th of Jan 2011 at 04:16 pm
MACD hasn't yet crossed down but I do favour a downward resolution with this stock.
Sideways consolidation should break down soon
BEXP
Posted by vimal on 8th of Jan 2011 at 09:26 am
I would probably look for a breakdown here in this stock given that price may have formed a double top and MACD is firmly pointing down and stochastics has turned down. Guess a break of support and stochastics falling below 80 would be a good short trigger.....with volume of course
On the flip side, if it breaks the upper channel then it could form a divergent high