Friday, November 24, 2006

 
Trading Ideas & Picks

General Motors Corporation - Fallen below a medium-term trendline

GM: General Motors Corporation has fallen below a medium-term trendline. The drop below the ascending support will be used by technical traders to suggest that the downward momentum may continue. The volume on the bottom of the chart has increased since the price has moved below the support near $33.50. This spike in volume will be used as confirmation by the bears of the expected move lower...

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Rare Pattern Is One of the Most Predictive

One of the most predicitive chart patterns you will come across is the saucer pattern. Saucers are also referred to as "bowls" or even "rounded tops or bottoms", and one look at this pattern tells where these names are derived from. However, there is a problem with saucer patterns - they're hard to find.

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NASDAQ Chart of the Day




NUAN has rallied fiercely out of a key triangle pattern, but has pulled back from recent highs. The pull-back has stalled at 38% Retracement, which means we could see another big leg of buying soon. Watch 11.25 for another shot at new highs.

Daily Trading Signals

 
NYSE Chart of the Day




AA has broken a clear triangle consolidation to the upside at 29.20, which is highly bullish. Look for continued strength out of this pattern.

Daily Trading Signals

 
Daily Market Commentary

Updated Wednesday, 11/22 for Thursday's market.


Key DOW Levels for 11/24

UP

Above 12,400

DN

Below 12,250


Still Holding...

- Dow trades quietly throughout much of the day, remains within key consolidation. The index continues to trade within the boundaries of a clear consolidation range, which we will continue to watch closely.

- The NASDAQ and S&P each opened the day with big gains, but immediately sold off from the day's highs. Each index eventually pushed higher to the Close, with the NASDAQ pushing the envelope. Look for continued overall strength above key near-term support.

Summary

The Dow closed the day highly quietly today and continues to build out within the key consolidation pattern. Look for more range movement until a solid breakout is seen. Continued strength should be seen above 12,250.

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Wednesday, November 22, 2006

 





Big Moves Occur Outside of the Range

A trading range is basically a horizontal channel in which a security moves from the high and low of the channel for an extended amount of time. Obviously, the upper level of the range can be considered resistance and the lower level represents support. Trading within a range is possible, but it's the breakout from the range that provides the best opportunities.

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NASDAQ Chart of the Day




PHRM has formed a tight consolidation at the highs of the recent advance from 23.55 to 25.95. A breakout from this range should spark the next clear move in this stock

Daily Trading Signals

 
NYSE Chart of the Day




DHI is holding beneath a major resistance level at 25.55, which has held since June. Watch this level for a solid break or bounce.

Daily Trading Signals

 
Trading Ideas & Picks

Runaway Moves (Gann)

In our last article, we focused on W.D. Gann's innovative brand of price and time analysis, especially as pertaining to the time periods of measured corrections. So-called “runaway moves” comprise a unique and highly profitable subset among time periods, affording the alert speculator the greatest opportunity to profit in the shortest time. During these dramatic moves, options prices traditionally experience their greatest increases in value...

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Daily Market Commentary

Updated Tuesday, 11/21 for Wednesday's market.


Key DOW Levels for 11/22

UP

Above 12,400

DN

Below 12,250


In the Range...

- Dow trades quietly sideways throughout session, remains within key range. The index ontinues to hold above the 12,280 level and continues to build out a potential consolidation range.

- The NASDAQ and S&P each pushed slowly sideways today within their respective ranges, which will likely persist the next couple of days. Continue to watch the key ranges for big movement.

Summary

The Dow closed the day with a mild gain after trading basically sideways throughout the session. The index continues to build out at the highs above 12,280, which indicates continued overall strength. However, watch the Dow's range for key near-term direction.

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Tuesday, November 21, 2006

 
Instant Profits @Profits Run presents:

Two minute GOLD video reveals recent short trades

If you've been watching gold, you know there was a big spike to 753 back in May that dropped off to 557.10 that every one was talking about.

But did you know that there were a handful of great market moves that some traders shorted in the months that followed?

You can see these trades revealed in this quick, 2 minute video:
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How to trade like W.D. Gann ~ Options University


 
NASDAQ Chart of the Day



BCRX continues to wind up within the boundaries of a clear triangle that could offer explosive movement. Watch 12.80 and 11.00 for signs of a breakout.

Daily Trading Signals

 
NYSE Chart of the Day




FUL is filling a large gap to the downside and could become a highly bearish exhaustion gap. Watch for follow-through below 25.50 for signs of much more weakness.

Daily Trading Signals

 




History Tells Us When Securites are Overbought or Oversold

Support indicates a level on the chart where we can expect an increase in the demand for a security (buyers take over). How do we know this? By identifying this reaction to this price level in the chart's history.

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Daily Market Commentary

Updated Monday, 11/20 for Tuesday's market.


Key DOW Levels for 11/21

UP

Above 12,400

DN

Below 12,275


Holding...

- Dow trades quietly lower from 12,350, ends day with small loss. The index reversed from the session's highs and eventually closed the day with a relatively mild 26 point loss.

- The NASDAQ and S&P each continue to trade within the boundaries of their respective consolidations. Watch these ranges for big movement.

Summary

The Dow continues to hold firmly at the overall highs of the recent uptrend, which indicates continued bullishness. We could see the Dow build out a nice consolidation above 12,275 as it gears up for the next key move. Watch this zone closely for early direction.

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Monday, November 20, 2006

 
Trading Education Tutorial

Overbought / Oversold / Overload

Analysts love to show off by proclaiming that the markets have become overbought or oversold. Unfortunately, few of us seem to understand what these terms really mean or what we should do when these moments of truth arise.

Should we run for the hills because a market is overbought, or perhaps load up the boat because it's oversold? And how do we know when one of our trades might fall prey to one of these extreme conditions?

The best way to understand overbought or oversold markets is to study the nature of supply and demand. At any given moment, a finite pool of buyers and sellers is available to take action on a particular stock. The trading activity of this crowd usually stays within fairly narrow boundaries.

But imbalances develop over time and force one side to pull the trigger, sometimes prematurely. This "uses up" that side of the market and awakens price mechanics that favor the other side.
..

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Waiting for the Setup to Complete Results in Profits

There are various chart patterns that help us find good reversal candidates. Of the major reversal patterns, the double top or bottom is not only one of the most recognizable, but also one of the most predictive.

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NASDAQ Chart of the Day



INTU is breaking a major lower trend line at 34.00, which has held firmly for many months. This break occurred via a breakaway gap, which further indicates continued weakness.

Daily Trading Signals

 
NYSE Chart of the Day




ENT has gotten a huge upside break through a major upper trend line via a solid breakaway gap and increased volume, which is very bullish. Look for more strength out of this stock.

Daily Trading Signals

 
Trading Ideas & Picks

Weekly Swing Ideas Report for November 20th - November 24th, 2006

SwingTracker Scans: Stock Picks - Long and Short Potential Swing Candidates ... SwingTracker Scans: Trading Window, Force Swings (ABB,ABB Ltd ADS, DBD,Diebold, Inc, HON,Honeywell Intl, GM,Genl Motors, MA,MasterCard IncA), Triangle (BRCM,Broadcom CorpA, WMS,WMS Indus, AKAM,Akamai Technologies, SKS,Saks Inc, SBAC,SBA Communications), Revival, Reversals (SRDX,SurModics Inc, EGLT,Eagle Test Systems, TTH,Telecom HOLDRs Tr Dep Receipt), and more...

Trading Ideas - Read More

 
Trading Ideas & Picks

The QQQQ Report for November 20th - November 24th, 2006

QQQQ: We mentioned that Monday and Tuesday's trading action could be of "strategic importance" because a break above the resistance of $43 or below the support of the ascending trendline would determine the QQQQ's short-term direction. Monday's close above $43 set the pace for a week of impressive gains. We expect the upward momentum to continue over the short term until the QQQQ moves below the newly formed support of $43...

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Daily Market Commentary

Updated Friday, 11/17 for Monday's market.


Key DOW Levels for 11/20

UP

Above 12,350

DN

Below 12,250


New Highs...

- Dow reverses from early lows, rallies solidly through 12,200. The index has now come within 30 points of hitting the 12,365 consolidation target, which could be hit just prior to a potential pull-back in this index.

- The NASDAQ and S&P each continue to hold near the overall highs, building consolidations in the process. Watch these ranges for key movement early next week.

Summary

The Dow closed the day with another new record high and continues to tack on points within the current uptrend. The Dow should remain quite bullish above 12,200, but we could see a near-term retracement before another explosive breakout is seen.

Read More...

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