Monday, February 25, 2008
Market Breaking Out...Almost...
Mon: Existing Home Sales
Notable earnings: LDK, LOW, JWN, OKS, ZBRA
Tue: PPI, Consumer Confidence, Fed Vice Chairman Kohn speaks about U.S. economy & monetary policy
Notable earnings: AZO, GPI, HD, RSH, KWK, PZZA
Wed: Durable Orders, New Home Sales, Fed Chairman Bernanke speaks,
Notable earnings: BYD, DLTR, DBRN, EGLE, IHP, CRM, TOL
Thurs: GDP
Notable earnings: AIG, CEDC, CPHD, CMED, DECK, FLR, GPS, HANS, KSS, OMG, SHLD, SGMS, FAF
Fri: Core PCE Price Index, Personal Income, Personal Spending, Chicago PMI, Michigan Sentiment, Fed Governor Mishkin speaks
Friday, February 22, 2008
Chart Analysis of AMZN - Bearish
From the chart above, you'll see that AMZN had 2 double top formations. One bigger one, another mini one. Both broke the neckline, which is bearish. It has also been in a downtrend since start of the year. At the point when I was going through my watchlist, I notice AMZN coming up against several resistance: neckline (former support turn resistance) and also near top of the downtrend channel. If you use moving average, you'll see that it is also nearing some key moving averages. But I didn't include them as I want to show that even without looking at moving averages, the pattern is still there.
Stocks in my watchlist do not necessarily pan out or pan out immediately. Even if they do as I expected, I may not take the trade if it does not provide at least 2:1 reward to risk ratio at the point of entry because sometimes the stock may have moved too much and I'm not comfortable with that. I've learned to be more patient and wait for the setup to confirm. I either set an alert in my trading platform or place these stocks which are about to breakout or confirm in a separate smaller watchlist, so I can keep a tighter watch on them.
Tuesday, February 19, 2008
Triangle Pattern on Major Indices
Mon: Markets Closed (President Day)
Tue: Minneapolis Fed President Stern to speak about U.S. economy
Notable earnings: ACLI, BCS, CROX, HPQ, HOC, NTRI, NUVA, JOE, UTHR, WMT, WLT, WFMI
Wed: Building Permits, Housing Starts, CPI, FOMC Minutes
Notable earnings: CECO, LFG, LNET, RIG, STP, SINA, OII
Thurs: Leading Indicators, Phil Fed
Notable earnings: ABX, BCSI, EV, CHK, ESRX, JCP, MGM, POOL, PRAA, OSIP, VDSI, GG, HME
Fri:
Notable earnings: LTM
Bullish watchlist: STLD, MCO, EMR, EDU, CNX, MDR, PCP, CEG, CLF, CTRP, AGU, AG, MEE
Bearish watchlist: FLR, BEN, SYNA, LRCX
Triangles: Some of those in last week's list are still awaiting for breakout. On top of that, I'm including these: HOG, MNST, OSK, YRCW, MUR
Tuesday, February 12, 2008
Watchlist for the Week
Above is Interactive Brokers Group, Inc. (Public, NASDAQ:IBKR), also one of the brokers I currently have. Not many stocks out there still have such nice uptrend.
Bearish watchlist: SYNA, DRIV, AMZN, VMW
Triangles: AGU, CTRP, YUM, ZMH, GILD, FMCN, BTU
Above a chart of Gilead Sciences, Inc. (Public, NASDAQ:GILD). Forming a symmetrical triangle, waiting for breakout. Could go either way.
Get Ready for Some Market Action
Mon:
Notable earnings: ACLI, CG, GGP, CMP, LCAV, ZOLT, VMC
Tue: Treasury Budget
Notable earnings: ANR, NILE, BWLD, CEPH, BGC, GM, EXPD, TAP, PNRA
Wed: Retail Sales, Business Inventories
Notable earnings: BIDU, DVA, DE, GVA, MICC, NTGR, NTAP, NVDA, PFCB, VCLK
Thurs: Trade Balance, Fed Chairman Bernanke to speak about economic outlook
Notable earnings: EYE, BRY, BUCY, CMG, IR, PCLN, WTW, UBS, VMI
Fri: NY Empire State Index, Capacity Utilization, Industrial Production, Michigan Sentiment
Notable earnings: ANF
Monday, February 04, 2008
More Earnings This Week
Mon: Factory Orders
Notable earnings: APC, ADM, BEAV, HUM, ILMN, RMBS, GOLD, SOHU, SIRF, YUM, WEN, TMA
Tue: ISM Service
Notable earnings: BHP, BBBB, BSX, BRE, BP, CBG, CG, CME, FORM, HAR, MLM, NYX, NBR, RVBD, CAKE, THQI, TM, TZOO, USNA, XL, WHR, DIS
Wed: Non-farm productivity, Phil Fed President Plosser speaks on economic outlook
Notable earnings: AKAM, ACL, BIIB, CCJ, CSCO, RAIL, NOV, PPDI, RL, PRU, RACK, REG, TWX
Thurs: Pending Home Sales, EUR interest rate statement and ECB President speaks, Dallas Fed President Fisher speaks on economic stability & central bank
Notable earnings: DO, EOG, FLIR, MDC, MFE, MCO, ATVI, AET, AG, AOC, APA, BMC, CTSH, CF, BG, RAI, PEP, PENN, TRA
Fri: Wholesale Inventories
Notable earnings: AIV, BEC, CVH, SYNT
Friday, February 01, 2008
Google After Earnings - Chart Analysis
On a side note, I did not trade most of the stocks in my watchlist, either because they didn't confirm technically or risk/reward did not work out to be favourable ( I require reward to be at least twice of risk.) Weak sectors such as retailers, financials and housing are now behaving very strong. I will continue to watch this group closely. I did dip my toe in XLF Puts prior the FED meeting, but was stopped out even before the meeting. I was glad I placed a tight stop, because given the trading environment these days, at the back of my mind was like "if it works, it should show right away, if it didn't, it should also show right away".