This is a one way ticket that takes you on a wonderful journey into the vast world that is the stock market through my eyes, my point of view.
Regardless of which direction the market is heading, breakouts and breakdowns signify major trend changes that can continue for quite some time.
Breakouts: ACOR, ASPS, DATE, GLBC, KNXA, LNG, RRGB, USPH, VELT
Breakdowns: ARO, ARUN, BORN, CCIH, CYD, GPS, KIRK, LDK, TA, YGE,
posted by Nick M. @ 10:15 PM
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Most likely, it's too early. Tops in the market are a long, tedious and dragged out process. While we may experience a short term retracement, the markets will most likely oscillate in both directions for the next few weeks. For DJIA, look for support at 12,500. If this doesn't hold, the 200-DMA may hold. If we receive a negative thrust downwards from the 200 DMA, then expect the DJIA to go as low as 11,500. For the NASDAQ, its do or die at this point. If it fails its current level, expect it to go to 2,700. If it thrusts down on high volume and dips below 2,700, then it's curtains for tech stocks until possible support is reached at the 200DMA (approx at 2,575).
Some Potential Shorts: CXW, DHX, FXCM, GSL, KONG, MOBI, MWW, NYX, REDF (i), SEMG, SFUN, VIT, YOKU
posted by Nick M. @ 11:47 PM
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Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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