Market Timing

Some Final Comments on CTIC Cell Therapeutics

by

CTIC20090824

I may do one last follow up on CTIC in the future, but this update will serve as a final commentary for now.  I would like to remain bullish on CTIC and tell you that it is going to do a continuation breakout, but after today’s price action I just cannot bring myself to do it.

You remember in a previous update I mentioned about how CTIC was extending very far into the apex of this symmetrical triangle and how that can sometimes weaken potential breakouts.  Too much energy can sometimes be lost when a stock extends out too far into the apex of a symmetrical triangle.

So it is very possible that we are dealing with a failed breakout here and now a return back into the apex of the triangle.  If that happens then CTIC could be at risk of breaking down even more thereafter.

Read more

Edge Petroleum Corp EPEX Trying to Breakout North from Rectangle

by

epex20090821

EPEX is trying to get some kind of a breakout move going but so far has been unable to get any kind of confirmation.

On Friday August 21st, it did manage to get another upward advance within the rectangle (defined by the blue horizontal and blue dotted horizontal) and also get a close above the down trend resistance line.  The volume also got a nice surge going today and may be an early sign that EPEX is close to getting above the .50 level.

It needs to get above and hold above .50 for me to start thinking a new uptrend has started.  So far still a no go, but I will take today’s action as a possible early clue.

Also note on the EPEX oil stock chart (click on it for full size) above the top left corner of the chart where I show the USO oil ETF.  It is possible that the USO oil ETF is close to completing a head and shoulders bottom formation.  I would think a northward breakout from that formation would definitely help the cause of EPEX finding a way to get a new uptrend going.

Read more

Gold Market May Achieve 30 year Cup and Handle Breakout Next Three Weeks

by

TsarCannon

I continue to get more and more bullish on Gold with each passing day.  The only thing constraining a truly rampant bullishness is this large symmetrical triangle you have heard me talk about repeatedly over the last few weeks.

If the GLD ETF can get above 95.25 during the next three weeks and if the DGP Gold Double Long ETF can get above 21.50 during the next three weeks then I am going to have to make the conclusion that the massive 30 year cup and handle breakout is in full force and we should then get a long term upside continuation breakout of between 6 to 12 months duration.

Read more

Citigroup Inc. (NYSE:C) Delivers a Confirmed Volume Breakout

by

citigroup20090821

The pressure was on Citigroup to deliver a breakout above the 4.50 level on greater than 1.22 billion shares.  Citigroup delivered handily today with a nice sign of strength breakout on 1.35 billion shares.

Now the 4.50 level becomes new support and there still exists this bright green up trend line which should help support price into the 6 to 6.40 range which I consider to be an ideal target and eventual exit point.

Read more

CTIC Cell Therapeutics Still Holding Above Blue Resistance Line

by

There is not too much new to say about CTIC today other than the fact that it is still doing what it is supposed to do.  CTIC held above both the original blue longer term resistance line (which is now support) and it also held above the shorter term red minor trendline.  This is important … Read more

C Citigroup has an Outstanding Bullish Setup

by

citigroup20090820

It seems I have spent so much time focusing on a lot of really cheap and speculative stocks here at BestOnlineTrades that I haven’t been able to see the forest for the trees.  Well I saw the whole forest today and Citigroup jumped right out at me.

Citigroup looks like a really good setup to me right now.  Even though it has already rallied the last few weeks we have closed on August 20th right at the previous resistance line.  The volume comparison between the two swings noted by the red arrows shows a decline of about 13%.  That may be a sign that we get a minor pull back tomorrow, but I think Citigroup is going to bust out topside from this 4.50 resistance level and head on towards the 6 to 6.50 range perhaps during the next few weeks.

Read more

ANDS Anadys Pharmaceuticals Compressing Into a Tight Range

by

ands20080820

Here is another quick mention of ANDS.  I still think something interesting could potentially be developing here on the upside eventually.  ANDS is not ‘timely’ now because it probably still wants to fill into that green shaded area on the chart above.  But it may become ‘timely’ if it can get an upside break and hold above 2.70 in the weeks ahead.

I just like the fact that ANDS near the beginning of August was able to do a massive body blow on huge all time record volume to the 3 and change red dotted resistance line.  That price swing also tested quite a few previous swings and exceeded their volume by factors of 5 to 10.

Read more

CTIC Cell Therapeutics Near Term Uptrend Remains Intact

by

ctic20090820

CTIC pulled back today and volume declined by roughly 50% compared to yesterday.

It closed above the former blue downtrend that that was pierced yesterday which is a short term positive sign.

Tomorrow I really prefer to see CTIC close above 1.64 or higher and to keep an intra day low that is higher than 1.61 .  If CTIC can do that then it will remain in the green shaded area I have drawn on the chart and keep the short term uptrend intact.  This is critical in my opinion for the breakout continuation into next week.  I want to see CTIC stay trading within this green shaded area as a sign that the potential breakout continuation is still in force.

If CTIC is not able to close and hold above 1.62 tomorrow then it will be a concern going into next week in my opinion.  We must not close below 1.62 tomorrow otherwise it may be a short term sign that this breakout continuation is in doubt for next week.  I like to see stocks PROVE themselves and I really do not have much patience for lack of performance because a lot of the time it can lead to big problems later on. 

Read more