All Entries in the "Stocks" Category
Qua Vadis QQQQ?
The QQQQ has rallied nicely from the lows. However, as discussed in my previous technical analysis of qqqq, (Has QQQQ posted a major bottom?) we would like to see a move to 30.46 before we can be comfortable about calling a bottom.
Has QQQQ posted a major bottom?
You must be wondering whether the QQQQ has posted a major bottom at $25.05. This post will help you make that decision. Users of Elliot wave principle are presented with some of their greatest difficulties when trying to determine whether a major trend has ended.
Elliot Wave Analysis of BHP Australia
Jasmit has requested for a chart of BHP and CBA, and I suppose an Elliot wave analysis of the same. I would love to do both, but being a treasury manager, my day is already too full. So here is just the chart of BHP for you, Jasmit, and all our fellow Elliot wave fans!
Fifth wave extensions can make you rich!
The easiest way to make money in any market is after a fifth wave extension. While identifying the precise end point of an extension is often a challenge, you can become quite rich by joining in once the correction starts.
HP’s turnaround looks good- but beware of resistance above!
Thanks to some tough cost-cutting measures implemented by CEO Mark Hurd, Hewlett-Packard Company (NYSE:HPQ) is in a position to give out strong 4Q outlook. This has sent the stock price sharply higher yesterday, up over 14%. I invite you to take a look at the accompanying chart.
Yet another look at Citi
With the stock tantalizingly below $9, many people have expressed an interest to see if there is any change in the outlook. So here is a fresh chart which suggests that perhaps we might find some support around $7.20
Is Google in Wave 5?
The objective of every investor is to buy as early as possible at the beginning of every new, major up move. Establishing a target for Wave 5, then, is the most important aspect of Elliot’s Wave Principle. I have presented you with a chart of Google (Nasdaq:GOOG)
Should we exit Citi?
Two closes below the wedge is certainly not good news. I am loath to push my luck when the trade doesn’t go as expected. There are countelss opportunities in the market, and the one main goal for any trader should be to preserve his/her capital to be able to trade again. So I am going to get out of my Citi position at a small loss today
Citi at critical levels
Well folks, you all know that I have been working on the paradigm of a diagonal triangle, and provided for a throw-over at the end of the 5th leg of the pattern.
S&P 500 and Citi
If my analysis of S&P500 (and Nasdaq) suggest that we will get a 5th wave move down, then how can I recommend buying Citi from $11.54? This is a valid question, and any good analyst should have thought that through. What I did, instead, was to look at the index and the stock separately.
Get ready to buy Citi
I hope you took profits on Citi above $14.50, locking in a 25% gain. I suspect that the current decline will be the final push, the catharsis! (Here is your chance to click on this word and check its meaning!). Unlike the previous trade, we should aim to hold the stock for longer
Get ready to buy Reliance Industries
On 3rd November I warned you to get out of your Reliance Industries holdings near 1480. (see the post here.) I think the stock will bottom out between 855 and 905
Should I sell Citi?
Some of you must have bought Citi when it was trading below $12. (see my post Let’s join the “Rescue Citi” effort! ) Sure I am looking for this stock to double in the medium term
Should we buy Reliance Industries now?
The Indian Central Bank has cut rates, and Reliance looks well bid. Should we buy Reliance here? My response is No. We will see another dip in this stock and let us look at it again at that time. If you have purchased this stock when it was around 1000, then you should look to get out on this rally
A look at BP Plc
Someone wanted to me comment on BP. I am not sure whether she wanted me to look at the British Pound or the British major BP Plc. So I did both.