Current Open Positions
For those keeping an eye on the markets, you know that the last couple of days have been brutal. In all honesty, it is not a great start for 2008. Still, this kind of action is necessary. It keeps me on my toes and reminds me of the importance of profit taking and keeping losses small. I've trimmed most of my positions heavily. My personal portfolio now holds only a few positions. The portfolio that I manage for others is all cash.
Current Positions:
ARBX, BDE, BIOD, CHTP, INOD, MASI, MTE, PZE, SEED, ULBI, VSNT
posted by Nick M. @ 11:00 AM
6 Comments:
You are right Nick, Volatility is going to be a commodity for at least next 2 quarters. Metals I think are going to rule, I hope. How does technical indicators for VGZ look like. Any change it might go higher ?
NG looks like heading for stars. What say ?
-yre
Not any change pls read it as any chance.
Yre,
NG might still have enough steam to run to 14-15. Just watch out for a high volume reversal that ends with a LOD close. That would signal a reverse to the short term uptrend. VGZ doesn't look special at the moment. Buy if it produces a nice bounce off of the current support at 5. Typically, you want to see a strong thrust like breakout that pokes through the 50 and 200 day MA on heavy volume to confirm a new uptrend in VGZ. Best of luck to you...
Thank Nick. Do you suggest any books or top of the line resources for chart analysis from you experience.
-Yre
As far as books on chart analysis, I haven't come across any that are ground breaking. William O' Neils books and website (Investors.com) has helped me identify basic chart patterns (such as bases, cups with handles, etc), but most of my chart analysis has come about from pure experience. I haven't been doing this for long, but I have read, studied and analyzed thousands of charts over the past 3 years. No book will ever give me the same amount of knowledge that I have accumulated and learned on my own. The best advice that I can give you is to study the charts and their behavior. Over time, you will come to recognize that a chart contains a wealth of information on a stocks possible future direction.
Great information here, look forward to more.
Thanks,
Brian
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