All Entries in the "US Stocks outlook" Category
Technical analysis of Citigroup
Citigroup has been moving up quite steadily this year. Has it got more room on the upside? I think so. Take a look at the two charts here. The first chart is to illustrate how the stock has respected the Elliott wave patterns very well on its way down. IN the second chart of Citigroup, you [...]
ORCL buys Sun
It is official. ORCL will be buying Sun common stock for $9.50 per share in cash. Here is a quick look at the chart for ORCL from Elliott Wave perspective. Enjoy
Can SBAC decline to $10 again?
In our post of 16 December where we presented Elliot Wave Analysis of SBA Comms Corp, we said that for this stock to come down, we really would like to see a fast paced move in that direction. Otherwise the risk increased to the upside. The main reason for this is
Colgate Palmolive begins next attempt higher
On 1st December 2008 we looked at Colgate Palmolive and decided that although it looked ready to breakout of a series of resistances we would be better off waiting for a small dip. This has materialized
Elliot wave analysis of SBA Comms Corp
First, why did I choose SBA Comms Corp for this trading idea? The reason is quite simple. Someone drew my attention to a potential wedge like pattern that is bearish. Can this stock go a lot lower that the $9.49 already seen?
Identifying the end of a trend: Citi
A lot of traders are under the impression that technical analysis will give cut and dried answers to their trading challenges. Many of those who practice Elliot wave analysis also have this notion. How I wish life was so simple! All that technical analysis does is to give you a structured approach to the market
Where should we exit GM?
I am quite sure that many traders have gone long on GM expecting a nice rally once the bailout details emerge. Question is, where should we take profits? Take a look at the attached chart. You will see two tops back in mid October.
A closer look at Nasdaq chart
One of the fascinating things about financial markets is the underlying harmony in price action. Once you spot a trend developing, it is often useful to measure how far a move travelled, and be alert for a swing of similar distance in the next leg of the move. Take a look at the Nasdaq charts here, and you will see what I mean.
Deutsche Rejects a Rescue, Even as Its Shares Tumble
The headline in Dealbook reads “Deutsche Rejects a Rescue, Even as Its Shares Tumble” and this prompted me to take a look at its chart. (meanwhile Goldman Sachs is said to face a $2 billion loss in Q4!). Back to DB, where you will observe
Rambus Inc rallies, and has way to go!
Rambus Inc, a closely watched Nasdaq stock, has shot up from its recent low of $4.95 to close yesterday at $11.39. While there are clearly some fundamental reasons behind the aggressive buying (court ruling in its favor, perhaps?) the time was ripe for this rally from a technical point of view as well
HP begins correction
This is a quick post, following up on the 19 Nov post where we were looking for resistance at $36 for Hewlett-Packard Company (NYSE:HPQ). The stock has embarked on a correction from precisely that level, and it looks like we could get to test below $32 in the coming sessions. Keep a stop on any shorts at break even and ride with the position. Good luck!
Is Colgate Palmolive ready to jump?
You might be wondering if Colgate Palmolive is preparing for a strong move higher. The weekly charts show that the stock has reached its Elliot Wave targets (a 3-wave correction that also complies with some Fibonacci projections). The daily charts show higher bottoms, and a period of consolidation with the stock tantalizingly poised near the upper boundary
Should we sell short JPM?
David has added JPM to his short watch list, and has asked what I thought. On 18 Nov, this stock had closed at $32.14. On 21 Nov, it posted a low of 19.69, a loss of nearly 39% in 3 sessions! And just four days later, it has traded at 31.93, a gain of 62%. Wow! After such incredible moves from a giant in the banking industry, one need to look carefully before taking a position.
What is a significant rally in the stock markets?
I read the following in Friday’s FT and thought it is useful to quote here. “History provides some useful benchmarks. After the horrible 1973-74 bear market, equities traded up, though unevenly, until 1982 with six specific bull runs that generated an average 32 percent gain”…but, a buy-and-hold strategy over that time period yielded only 9% compounded annual gains, which merely kept pace with inflation.
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.