Category Archives: US Stocks outlook

A closer look at Nasdaq chart

Posted on December 3, 2008 by Ramki

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. Continue reading →

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Deutsche Rejects a Rescue, Even as Its Shares Tumble

Posted on December 2, 2008 by Ramki

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 Continue reading →

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Rambus Inc rallies, and has way to go!

Posted on December 2, 2008 by Ramki

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 Continue reading →

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HP begins correction

Posted on December 2, 2008 by Ramki

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! Continue reading →

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Is Colgate Palmolive ready to jump?

Posted on December 1, 2008 by Ramki

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 Continue reading →

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Should we sell short JPM?

Posted on November 30, 2008 by Ramki

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. Continue reading →

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What is a significant rally in the stock markets?

Posted on November 30, 2008 by Ramki

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. Continue reading →

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Qua Vadis QQQQ?

Posted on November 27, 2008 by Ramki

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. Continue reading →

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