I am switching quickly to BOT Short right now. I am seeing a similar pattern starting to develop like we had in the April 2010 top. I indicated in previous posts that there was still a chance we could see supply come into the market at the 1300 range. Today could be the day that … Read more
The GLD ETF which closely tracks the gold price is showing a much needed strong reaction off of very key trading range support at the 129 level. The test of the 129 level was a very key test for the gold market as a break down through that level would have opened the door to … Read more
FRZ Reddy Ice Holdings, Inc is possibly setting up for a breakout from a cup and handle formation. This company is in the portable ice business and it would seem odd that such a business could thrive during 0 degree Fahrenheit temperatures the other day. I suspect a good portion of their business is located … Read more
I am switching to a BOT long signal this AM at 1298 on the sp500. It appears we are about to ascend through 1300 which is a key level for the market and which could provide as a catalyst for more upward momentum. I had written quite some time ago that sometimes during momentum markets … Read more
I really hate to do it, but the market is unwilling to pull back for now, and I need to switch to a BOT long signal tomorrow. As Jesse Livermoore said, “a stock is never too high to buy and never too low to short”. I have been on the neutral signal for some time … Read more
I talked about long bottoming tail candlestick reversals yesterday and I highlighted the stock ALSK as one that came up in my metastock scan. I have been researching the topic and am trying to get a feel for how these reversals take hold. It appears that ALSK should be ready for topside action right near … Read more
I have been trying to come up with a valid long legged hammer candlestick reversal trading strategy. So far I am still in the exploratory stages and have not been able to come up with a perfectly clear system on how to trade them. I am mostly interested in the LONG LEGGED (also known as … Read more
Uranium Resources Inc URRE is very close to making a decision on whether or not to hold support at 2.65 in the coming days, perhaps as early as tomorrow. Today we see that URRE declines for the fourth straight day and is closing right near the low of the day’s range, but not significantly violating … Read more
The sp500 is trading higher at mid day today and so far has not revealed any willingness to follow through on last Friday’s candlestick reversal hammer. The reversal hammer was not the most ideal in that it did not have a very long tail and was also within a trading range as opposed to being … Read more
The Uranium spot price according to UXC.com is currently near 70 dollars per pound as of January 12, 2011. I check the price occasionally and have been thinking about this sector for quite some time now. I believe the uranium spot prices are updated every Monday but then released in delayed fashion by Tuesday or … Read more