Blue Chip Bulldog - Latest Comments in Chart Watch for Friday

Re: Chart Watch for Friday

hiker — Fri, 06 Nov 2009 20:13:32 -0000

a couple Nov 6th charts that update price and NYSE breadth data -

http://forums.technicalwatc...

- hiker

Re: Chart Watch for Friday

aviat72 — Fri, 06 Nov 2009 19:31:50 -0000

Wow. What action in AMZN. The stock moved up more than $10 by 10:00AM today from its Thursday's AM lows. Closed at a new all time high, and above the previous intra-day high.

I think we are entering the stage where the market will pick its winners and losers instead of lifting all the boats. This is increasingly looking like the summer of 2007.

The reaction of currencies today was interesting. The biggest drop was against the Yen. Today's job report has sealed any doubts about the Fed tightening any time soon. Traders who may have gone short the Yen predicting a reversal of the funding currency out of USD and back to Yen scrambled to cover. After the initial reaction it became clear that the USD carry trade is on in full force and most currencies recovered. It is very likely that King Dollar will continue its path down now that the pesky NFPs are out of the way.

However this is not necessarily positive for equities. Traditional risk asset correlations seem to be changing. Oil was down big today while equities rallied and Gold continues to go up. However, liquidity is not going to be drained from the system anytime soon and that should be positive for equities.

Re: Chart Watch for Friday

Ashok — Fri, 06 Nov 2009 18:03:44 -0000

SPX up 33 for the week @ 1069......above the 1057 monthly close of Sept and the 1036 close of Oct......staying bullish....still long AAPL and TNA.....have a wonderful weekend, folks...!

Re: Chart Watch for Friday

moo — Fri, 06 Nov 2009 17:19:07 -0000

New Post!

Re: Chart Watch for Friday

SwampDrainer2016 — Fri, 06 Nov 2009 17:05:49 -0000

You are more than likely correct, as usual.

Re: Chart Watch for Friday

Brinkley — Fri, 06 Nov 2009 16:47:21 -0000

They are all over the place, but most/many are breaking out to the upside. They're not "classic" or ideal h/s patterns, in any case. GOLD is one of the leading stocks in the mining sector and had a similar setup-- it broke out into new highs today. NEM is another one that looked similar and had a bullish resolution. If I get a chance I'll try comment further on this and maybe annotate a chart to illustrate what I am seeing.

Re: Chart Watch for Friday

tgarfield — Fri, 06 Nov 2009 16:42:23 -0000

That roof seems to get higher over the last few months.

Re: Chart Watch for Friday

TraderTamas — Fri, 06 Nov 2009 16:33:00 -0000

OK well hopefully Monday is a nice trending day.

Re: Chart Watch for Friday

SwampDrainer2016 — Fri, 06 Nov 2009 16:32:41 -0000

Seeing these H&S patterns everywhere.

SLV

http://www.screencast.com/u...

HUI

http://www.screencast.com/u...

Re: Chart Watch for Friday

chaunceyherbie — Fri, 06 Nov 2009 16:07:43 -0000

Now holding no positions. One scalp today for a fractional gain. Have a great weekend everyone.

Re: Chart Watch for Friday

Brinkley — Fri, 06 Nov 2009 16:01:26 -0000

; ) Have a nice weekend, Chuck.

Re: Chart Watch for Friday

ratracing — Fri, 06 Nov 2009 15:50:15 -0000

holding SD over the weekend - great recovery today. Also picking up front month 104 SPY options.

Re: Chart Watch for Friday

Wahoo — Fri, 06 Nov 2009 15:49:53 -0000

I'll see you all later.
Thanks to all of those that shared their thoughts today. Don't forget to point up the ones you like...

Re: Chart Watch for Friday

Rosabarba — Fri, 06 Nov 2009 15:40:42 -0000

Wouldn't that be nice. Today's chart looks like a fractal of the previous two put together, and they both seem pretty basey.

Re: Chart Watch for Friday

InthePink — Fri, 06 Nov 2009 15:32:09 -0000

well howdy ho... long time no post or trade.... back for last 30 mins of the week

Re: Chart Watch for Friday

InthePink — Fri, 06 Nov 2009 15:31:42 -0000

Hey Wex,

I'm online right now if you want to chat via g-talk, just let me
know... otherwise I'll send you an email this weekend!

Re: Chart Watch for Friday

Tazman — Fri, 06 Nov 2009 15:28:47 -0000

????....unless JNJ is going for more than 18% stake...interesting....

Re: Chart Watch for Friday

Turbo_Tim — Fri, 06 Nov 2009 15:19:56 -0000

Whats up with ELN

Re: Chart Watch for Friday

zstock7 — Fri, 06 Nov 2009 15:18:57 -0000

GOLD ( the stock) reports next Tuesday--that'll tank--I'd short now! $80 is the highest it can possibly get to--even if it beats st by 20%

Re: Chart Watch for Friday

Brinkley — Fri, 06 Nov 2009 15:14:31 -0000

Went long SINA for a move into earnings next week. Nice overhead gap that looks like it may fill. Not a particularly large position, stop fairly tight.

Re: Chart Watch for Friday

Brinkley — Fri, 06 Nov 2009 15:09:54 -0000

Absolutely. HGSI is trying to close green, and nice bull flag for next week, perhaps.

Re: Chart Watch for Friday

Tazman — Fri, 06 Nov 2009 15:07:46 -0000

WASHINGTON, Nov 6 (Reuters) - Total U.S. consumer credit dropped by a bigger-than-expected $14.80 billion in September, Federal Reserve data showed on Friday, indicating households prefer to reduce debt and are still reluctant to spend.
September consumer credit outstanding fell at a 7.19 percent annual rate to $2.46 trillion. August's figures were revised to show a $9.86 billion drop, previously reported as a $12 billion fall.
Analysts polled by Reuters had forecast consumer credit dropping by $10.0 billion in September. Consumer credit has now declined for eight consecutive months, the longest downward streak since the series started in 1943, according to the Fed.

Re: Chart Watch for Friday

Rosabarba — Fri, 06 Nov 2009 15:06:15 -0000

Better late than too late. ;-)

Re: Chart Watch for Friday

Tazman — Fri, 06 Nov 2009 15:06:12 -0000

Back in OPTT @ 8.47.....

Re: Chart Watch for Friday

Brinkley — Fri, 06 Nov 2009 15:05:45 -0000

Thanks. Worked well, and about time!