Tuesday, August 26, 2008

Go for the net

Posted this on google finance earlier (not the best place for intelligent conversation): "Triple bottom on the point and figure. Resistance at 135 or so. Triple hangman on the weekly. Dropping stochastic. MACD is starting to turn. It is resting on its 100day MA, but if it breaks that (127/126) I'd watch out. Then again, maybe it will fill the gap, and reach 140. Personally, I'd love to have a Blackberry Bold, but it looks like this stock is ready for another drop."

If RIMM can break below 127, I think it could be setup for a nice short. We'll see. Looks like QCOM and LIZ (at least after hours; unch during day) are doing okay--if you're short. UNG is up on good volume, although I don't know what to make of the candlestick pattern. Bullish harami perhaps? Possible W formation as well.

Sorry about the dearth of posts (mostly apologizing to myself, because these tend to help me improve), but the last two days have been exhaustingly unpredictable. Tomorrow, although I won't be able to watch the entire trading day, will hopefully be less...hmmm..long. More later.

Good trading. Good stops. Good risk management. And all that jazz.

PS: Read the comments in the last post for several nice looking stocks.

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