6 months trading range is in effect between 39-73. The recent test at $39 could very well result to a price expansion to the upper end of the range.
Short term chart is very bullish with a H&S bottom formation, with a break out today on volume. The right shoulder took the form of 3 week ascending triangle consolidation formation which was also broken today. There is not meaningfull resistance untill $63-$65, so this could run 10 points very fast. Needless to say I bought today at 49.88 in anticipation of the break out.
Short term chart is very bullish with a H&S bottom formation, with a break out today on volume. The right shoulder took the form of 3 week ascending triangle consolidation formation which was also broken today. There is not meaningfull resistance untill $63-$65, so this could run 10 points very fast. Needless to say I bought today at 49.88 in anticipation of the break out.
6 comments:
hey Zues
i post at beannies, everyday
http://beanie11111.blogspot.com
sure would appreciate seeing your ideas, at his blog site...
XLI looking awfully toppy, i give it one or two more up days, and then you had better buy some QID AND VIX, as a hedge.
If XLI is to succeed in going higher, DOW must clear 14,100....
zee
My Sept blog records it’s best performance ever, 99 winning recommendations and only one loss...
TSL, had that 3 for 2 stock dillution a few months back, so, I doubt TSL will get to a double top
ZEE..
in fact i recommended shorting at 60 / 61 and it's working well...
Z stock you maybe right in tsl. That high volume down day on 9/27 might have done it but there is still a chance for continuation if the volume dries up the next 2 days, given as well the Chinese market doesn't pull back. Anyway the stock went up 10 points from the break out. Someone would be plain fool if they do not take some off the table after such a run. I myself took everything out at 57.25. I even left 4 dollar for someone else.
Hey Zues,
I found a huge signal, that tells you when to Short sell IWM, and that in turn tells you when the market has topped,
So go to my blog and look at the charts..
zee..... http://z-stock.blogspot.com/
and can you tell me where you are posting your comments during the day, so I can go to those blogs?
thanx
hey ZUES
VIX hit the 200 day yesterday and bounced right off it
i guess i better buy some VIX
zee
hi Zues
BKX chart looks totally stable
so i'm guessing the worst is over and never coming back
zee zee..... http://z-stock.blogspot.com/
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