28th June 2011–Watch List Candidates

I think it is time for me to extend a bit on my learning in stock. How about some of my prediction on Long and Short Watch List Candidates?         

Possible LONG candidates	Possible SHORT candidates
CONN	MRO
RENN	CCK
MOTR	ARMH
COO	TZOO
ROYL
SQNS
VNET
ARCO
GS
SOHU
SPMD
M
ULTA
FTNT
NXPI
SIRI
BIG

27th June 2011–My Analysis

BULL or BEAR ??

 

Short term (1 week)	Long term (1 month)
-- Many sectors seem to have reached some kind of multiple bottom. -- All 3 indexes have their MA support line coming very close as support lines. -- UUP is reaching the upper trend line. Expect it retrace a bit.	-- Chart pattern wise long term they are still bearish. -- VXX is at a very zone and pattern now.

 

Next Week Economic Data:

 

 

Input:

 

1. Another heavy data week. Last week is already a bad week for market, so more data this weekly might not be a good help to the bull.

 

VXX chart:

 

 

 

Input:

 

1. Once touching the 20MA line, it rebound so hard.
2. Looking at the chart pattern, we could be in  the most beginning part of a major market turning point. Let us be careful.

 

SPY chart:

 

 

 

 

Input:

 

1. Intraday SPY seems to show the fist support is at 126.80. Be careful, this line of support can be taken out pretty easily.
2. Weekly chart shows that it will soon dropped to its 50MA line.

 

DJIA chart:

 

 

 

Input:

 

1. Daily DJIA is sitting on its trend line.

 

NASDAQ chart:

 

 

 

Input:

 

1. Looks to be rebound at its trend line. Next support closest is its 50MA line.

 

UUP chart:

 

 

Input:

 

1. UUP is challenging its weekly trend line resistance and 20MA line resistance now. Thing could turn really ugly if UUP really break out. Pay close attention.

 

Sector Analysis:

 

 

Input:

 

1. Many sectors seems to reach some kind of multiple bottoms. Are they the real bottom yet? Or should we see at least rebound first?

 

GLD, SLV, Petrol and Natural Gas charts:

 

 

 

 

 

 

Input:

 

1. Just in 2 days, GLD daily chart drops below 20MA and 50MA lines. All secondary indicators have turn negative. Looks like it is set for more drops to come. Any rally in GLD should be a good chance to top up GLL.
2. Similar to the yellow metal, SLV drops as expected. Both daily and weekly charts show only one direction, down!
3. Weekly chart of USO drops below every single MA lines. Really weak.
4. UNG is really a toxic gas. Remember this kind of double parallel wedges patterns well.

 

FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:

 

 

Input:

 

1. FXI chart pattern is deteriorating compare to last week. This week it actually punch down its weekly 100MA and 200MA lines and now just below its 100MA line.

 

Baltic Dry Index chart:

 

 

Input:

 

1. Interesting chart!
2. Let's wait a bit more longer. Many shipping stocks are now touching their horrible bottoms.

24th June 2011–Textbook is always right !

Ticker:

 

1. SLV, ZSL, GLD, GLL

 

Topic:

 

1. Textbook is always right.
2. Just like what I have expected on 14th June post.

 

Lesson Learnt:

 

1. The pattern is just like what you read from the textbook. For SLV, a sharp dive,  followed by a strong rebound and then another dip. In this case there is another small rally back to the resistance line before the actual dip.
2. For GLD, a double top observed.
3. The potential of ZSL and GLL is looking pretty high now.
4. Looks like the Gold rally has stopped !

 

Intraday Chart

Historical Chart

23rd June 2011–Sick

I have been sick for the past 2 days. Not sure what is the reason though. Anyway, may not be able to update much thing in the blog. Sorry about that.

20th June 2011–Romantic Thursday DATE

Buy $	Sell $	Sell Short $	Buy Back $	Stop Loss $	Profit / Losses	Duration
10.10				9.43

 

Reason for Buy / Sell / Sell Short / Buy Back:

 

1. A new IPO from China that is showing double bottom formation in intraday and daily chart.

 

Lesson Learnt:

 

1. I get excited again and bought at $10.10. I should have set the price lower and waited. The entire market was very pessimistic, so there will be a lot of chances to get at lower price.
2. Many China stocks have been hit hard recently. This create opportunity.
3. Watch out the development of FXI. China index can determine where this stock moves.

 

Intraday Chart

Historical Chart

19th June 2011–My Analysis

BULL or BEAR ??

 

Short term (1 week)	Long term (1 month)
-- Expecting a temporary rebound for all indexes. They have reached some kind of temporary support line. -- Intraday of indexes show sign of life on Thursday and Friday night. -- Weekly chart of VXX is currently reaching resistance of 20MA line. Expect it to cool down temporary. -- Many sectors ETF charts show that they have reached some kind of support line. Expecting temporary rebound.	-- Coming is another data heavy week. Volatility is expected. Furthermore it comes with FOMC meeting minutes announcement + GDP -- VXX now has strong support from the 20MA and 50MA lines. Watch out how it react at those support lines. -- Very high possibility of Head-n-Shoulder for all three major indexes in the very near future. Watch out carefully, it can be really really ugly.

 

Next Week Economic Data:

 

 

Input:

 

1. Again, data heavy week. In addition FOMC meeting minutes and GDP.
2. Be careful, data can swing both sides heavily.

 

VXX chart:

 

 

 

 

Input:

 

1. Daily VXX chart now has strong support from 20MA and 50MA lines.
2. Weekly VXX chart now blocked by 20MA line. Expect it to temporary cool down a bit.
3. Strong volume of VXX is not a good sign for the market.

 

SPY chart:

 

 

 

Input:

 

1. Daily and intraday charts show the intention of market to have a rebound.
2. Weekly chart shows that SPY has reached a temporary support line, will there be a rebound?

 

DJIA chart:

 

 

 

 

 

Input:

 

1. Similar to SPY.

 

NASDAQ chart:

 

 

 

Input:

 

1. Similar to SPY.

 

UUP chart:

 

 

 

Input:

 

1. UUP is getting stronger, but it is still below the trend line and its 20MA is still its resistance.
2. Does this mean that GLD will have a strong upper hand?

 

Sector Analysis:

 

 

Input:

 

1. Many of the sectors have reached at the lower part of their trend lines or sitting at some kind of temporary support lines.
2. Expecting some kind of temporary rebound.

 

GLD, SLV, Petrol and Natural Gas charts:

 

 

 

 

 

 

 

 

Input:

 

1. GLD is now forming a big pennant formation.
2. SLV is a very weird commodity. Its daily chart looks bearish for me, but still it keeps climbing slowly. Its 20MA and 100MA lines are its resistance line.
3. USO is testing the lower part of the up trend line. Will there be a rebound?
4. Weekly chart of UNG is again showing slightly below 20MA line and testing the down part of the trend line. Its daily chart looks king of ugly too. But this may be a good time for long entry??!!

 

 

FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:

 

 

Input:

 

1. Similar to the indexes in USA, FXI is resting on the trend line and 100MA line now.

 

Baltic Dry Index chart:

 

 

Input:

 

1. It is roughly about time to pay attention to the shipping stock. Many have reach the "bottom".