Here's a trade idea thats uncorrelated to the market.
It looks like a 5 wave downtrend is ending with positive
divergence on the MACD, and the most recent 5th wave down is on
declining volume. A tiny resistance level is forming at 40,
which should serve as a breakout point that coincides with a break
of the downtrend. also watch for the stochastics to turn
up.
Posted by poohnana on 12th of May 2010 at 06:51 am
Do you know if you can hold it in an IRA without tax
complications like the limited partners have- just your
opinion- I am not asking for tax advice! thanks
Trade Idea SGG
Posted by riskmanagerjeff on 12th of May 2010 at 02:15 am
Here's a trade idea thats uncorrelated to the market.
It looks like a 5 wave downtrend is ending with positive divergence on the MACD, and the most recent 5th wave down is on declining volume. A tiny resistance level is forming at 40, which should serve as a breakout point that coincides with a break of the downtrend. also watch for the stochastics to turn up.
Do you know if you
Posted by poohnana on 12th of May 2010 at 06:51 am
Do you know if you can hold it in an IRA without tax complications like the limited partners have- just your opinion- I am not asking for tax advice! thanks
No idea. Now that you
Posted by riskmanagerjeff on 12th of May 2010 at 08:22 am
No idea. Now that you mention it, not sure how it impacts my own Taxes in canada!
Good spot, that is quite
Posted by window72 on 12th of May 2010 at 02:44 am
Good spot, that is quite a collapse. All about a bumper harvest in Brazil appaently.
yeah, nothing solves high prices
Posted by riskmanagerjeff on 12th of May 2010 at 08:24 am
yeah, nothing solves high prices (especially in the ag sector) like high prices
I like the divergence but the trendline looks so steep one would imagine any breakout would definitely get a back test IMHO.Thanks again.
Posted by hurricanemalta on 12th of May 2010 at 02:26 am
It is very steep. My
Posted by riskmanagerjeff on 12th of May 2010 at 08:28 am
It is very steep. My first thought is simply a move to 45 which is barely a move at all relative to the decline. But that's a 10% move in itself.
Then 50, then 60 (doubt it would get there) .... but I'd just take this one step at a time.
Great find riskmanagerjeff on SGG
Posted by steve on 12th of May 2010 at 12:46 pm
Great find riskmanagerjeff on SGG and thanks for sharing