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Wednesday, August 31, 2011
Thursday, August 25, 2011
MT - Wave 2 in progress
MT - 30 min Candlesticks:
Sticking to the bullish count for now.
Drilling into the 30minute chart.
A mini 5 waves can be traced. For now I will labelled it as Wave1.
Fibo level/price :
50% = $20.15,
38.2% = $19.95 [Critical as its top of the mini wave 1]
For the bullish count to work, $19.95 must hold.
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Wednesday, August 24, 2011
Tuesday, August 23, 2011
$DNDN - Worth a cheap option bet ??
DNDN - Daily Candlesticks:
Worth a cheap option bet ?? For Stock Price to double ??!
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Worth a cheap option bet ?? For Stock Price to double ??!
$DPZ - Mini Bull Flag in Descending triangle
DPZ - Daily Candlesticks:
Monitor price movement on open to determine direction to trade.
Stochs and MACD are suggesting that the upward movement from $23 will
continue with the consolidation pause patterned by the Bull Flag.
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Prices consolidating into a bull flag within a descending triangle.Monitor price movement on open to determine direction to trade.
Stochs and MACD are suggesting that the upward movement from $23 will
continue with the consolidation pause patterned by the Bull Flag.
Monday, August 22, 2011
SMH - Wave C complete. Await Revesal Signal.
$SMH : Wave C completed in 5 waves. Awaiting Reversal confirmation in candlestick formation.
SMH - Daily Candlesticks:
SMH - Daily Candlesticks:
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$AAPL - Descend Triangle. Stochs O/S
AAPL - Daily Candlesticks, 700:
$AAPL. Chart Update from 15Aug11. Daily Chart. Still in descending triangle. Fast Stochs O/S though.
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$AAPL. Chart Update from 15Aug11. Daily Chart. Still in descending triangle. Fast Stochs O/S though.
AAPL - Weekly chart $310 or $410 ??
AAPL - Weekly Candlesticks:
Retesting Resistance turns Support. will it bounce off it ?
Retesting Resistance turns Support. will it bounce off it ?
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Sunday, August 21, 2011
Friday, August 19, 2011
Thursday, August 18, 2011
DIA - Weekly Candlesticks
DIA - Weekly Candlesticks:
Weekly Chart
. Bearish
. Double Top
. Wave v of A in action
. Possible target 100-102
. Price/Stochs Bearish Divergence
. Fell out of Trend Line
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TechnicalsWeekly Chart
. Bearish
. Double Top
. Wave v of A in action
. Possible target 100-102
. Price/Stochs Bearish Divergence
. Fell out of Trend Line
Harley Davidson Inc (HOG)
Harley Davidson Inc (HOG):
Prices is finding a bottom for the first leg of decline - Wave A
Wave A in itself is only half formed.
Possible downside target is at $34 [50% retracement]
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A Major 5 wave has completed and terminated in July 2011.Prices is finding a bottom for the first leg of decline - Wave A
Wave A in itself is only half formed.
Possible downside target is at $34 [50% retracement]
Green Mountain Coffee, Inc. (GMCR) Wave C decline in Progress.
Green Mountain Coffee, Inc. (GMCR):
in August.
Prices has corrected and rebounded from $90.
The expectation is for GMCR to decline again in wave C.
Target $76
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GMCR has traced out and completed a 5 wave pattern that has culminated in the termination of Wave 5in August.
Prices has corrected and rebounded from $90.
The expectation is for GMCR to decline again in wave C.
Target $76
Wednesday, August 17, 2011
$60 Trillion of Private Networth : US debt ? What's the problem ?!
$60 Trillion of Private Networth : US debt ? What's the problem ?!
However applying a heavy liberal dose of Elliot wave, Networth of Households and Nonprofit org has peaked at about $65 Trillion around 2008.
And as has rebounded from a recent low of $50Trillion to about $60Trillion.
Mirroring the rise and fall of the equity market but looks more like a gold chart instead.
From here on out :
Wave B will topped out for a Wave C decline to at least $40Trillion the previous 4th wave.
Which is still above US govt debt. And as the author imply to save the Nation, then we will quit equities and fund our Nation's debt ourselves.
MAKO - Hitting critical resistance. Intersect of upper & lower trend lines.
MAKO - Daily Candlesticks:
. Mako hitting critical resistance at $32.60 .
. May bounce off resistance, consolidate before moving higher
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Overview. Mako hitting critical resistance at $32.60 .
. May bounce off resistance, consolidate before moving higher
Tuesday, August 16, 2011
Is Gold Overvalued ? Or Gold Stocks Undervalued ?
The Gold and Gold stock Phenomenon :
While Spot Gold has been on a tear. Gold Stocks has been a laggard.
The question remains is Spot Gold over valued and Gold Stocks under valued
or vise versa ??
With Gold Stock lagging behind, is there casue for concern that spot Gold is oushed up
by speculative funds or hedge funds that genuinely has no where else to go ?
http://www.streetauthority.com/energy-commodities/simple-chart-says-gold-stocks-could-soar-458504
Technicals of GDX :
Monthly Chart :
. Double Top
. Bearish Divergence on Price/Stochs
. Prices out of Trend Channel.
My take is that Gold is too feverishly hyped out and will correct deeply.
While Gold Stock is actually reflecting the real value of Gold instead !
I am taking the side of Soros who allegedly sold his Gold ETFs.
While the rest of the Gold bugs are just plain lucky.
While Spot Gold has been on a tear. Gold Stocks has been a laggard.
The question remains is Spot Gold over valued and Gold Stocks under valued
or vise versa ??
With Gold Stock lagging behind, is there casue for concern that spot Gold is oushed up
by speculative funds or hedge funds that genuinely has no where else to go ?
http://www.streetauthority.com/energy-commodities/simple-chart-says-gold-stocks-could-soar-458504
Technicals of GDX :
Monthly Chart :
. Double Top
. Bearish Divergence on Price/Stochs
. Prices out of Trend Channel.
My take is that Gold is too feverishly hyped out and will correct deeply.
While Gold Stock is actually reflecting the real value of Gold instead !
I am taking the side of Soros who allegedly sold his Gold ETFs.
While the rest of the Gold bugs are just plain lucky.
So I expect Gold Stocks and its ETF equivalent to correct with Spot Gold.
Instead of playing catch up ....
BIDU - 1hr chart - Long for prices to fill gap.
BIDU - 60 min Candlesticks: "
via StockCharts.com"
Overview :
I am maintaining a medium term bearish view. Having said that in the Near Term,
expect prices to correct upwward to fill a gap left by $142.5. Current price at $136.92.
Strategy
. Go long on a Near term to Intraday punt for price to fill gap.
. In the medium term expect bearish sentiment to resume. Unless proven otherwise !!
Technicals :
. 60minute chart
. Slow and fast Stochs are O/S
. Broke out of mini trend channel
RIO - Bearish Structure : 60min - Stochs O/B, Fall out of Triangle.
RIO - 60 min Candlesticks: "
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RIO : Rio Tinto : Chart Update on Market open
Current Resistance : $62
Prices break out of Triangular Consolidation.
Watching to see if Bears will hold the ground to go short
RIO - Bearish Structure. Triple Top
RIO - Weekly Candlesticks: "
Bearish Trade : Long Put
Stock appeared in MarketClub
via StockCharts.com"
Overview : Bearish Structure
Rio Tinto : Mining Conglomerate : Weekly Chart
. Triple Top
. Price/Stochs Bearish Trend Divergence
. Broken out of Trend Channel
. Prices went below 200Days Weekly MA. Currently just touching it.
Bearish Trade : Long Put
Stock appeared in MarketClub
BHP - Weekly Candlesticks : Resistance $86
BHP - Weekly Candlesticks: "
via StockCharts.com"
Overview :
BHP : Mining Conglomerate : Has formed a Head and Shoulder pattern.
And as if on cue it has broken out of the neckline at $86. Dropped by about
the distance from Head to Neckline to $72. Which actually formed the
termination of mini Wave iii.
Awaiting clearer signal as to whether $86 would be the resistance also
the neckline that was broken. Prices will test neckline before falling.
Strategy :
Await Reversal Signal from hereabout and especially the retest of the neckline.
Punching through the neckline upwards of $86 would negate this Elliot Wave
Count.
Bias is to await for reversal and Short from $86 thereabouts.
Baidu, Inc. (BIDU) : Chart Update
Baidu, Inc. (BIDU)a: "
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BAIDU : BIDU :Update from Previous Post
For traders that was anticipating a break out from the presumably flag formation
on Fridays close would be disappointed as Prices hit resistance at $152.5 and fell
$5.51 or -3.87% intraday.
Conflicting Signal - Wait for fresh signals to trade.
On 60minutes chart prices is below the triple moving averages and also the 200days MA.
A bearish sign, however Stochs on 60minutes chart is oversold.
Resistance at $152.5
Monday, August 15, 2011
AAPL : Wait for Reversal Signal to sell for Wave C or Wave 5 down
Overview :
AAPL : Apple Inc : 2 possible counts here on the 60 minutes chart.
i. Completing of Wave 4. Set up for Wave 5 downside move.
ii. Wave B the corrective rebound is in progress and near terminating., $400 ??
After Which Wave C will pushes Prices down again.
Strategy :
The prefered way is to wait for a reversal signal.
In the first scenario : resistance at $390
2nd scenario resistance at $400
UUP : Short Term Short Play or Long Put
UUP : US$ ETF
Short Term Play.
On a brink of a break down. Sell on break of support line at $21 for a downside target of $19.
Overview.
UUP has been on a slide since June 10. If you have been a Long Bear, you would have done good. Very Good !
But this setup is a short term play. Elliot wave count is Wave 5.
Wave 4 being a complex correction. Fullfilling Elliots rule of alternate reactive wave. Meaning to say, if Wave 2 is simple zig-zag, then Wave 4 is complex a-b-c-d-e, vise versa.
Word of Caution : UUP has been on a long maturing trend, stochastics on monthly chart is way oversold. There might be a possible trend reversal coming up.
Sunday, August 14, 2011
SLV - Weekly Candlesticks
SLV - Weekly Candlesticks: "
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Broad Picture,
Silver has topped out at $48. Capping off a Wave 5 termination of an intermediate degree.
Prices since corrected or dropped down to $32 and rebounded to about $38.
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Strategy :
i. Option or CFD Straddle at $38 for objective of $42 or $27.
ii. Enter short trade on break of $37
Broad Picture,
Silver has topped out at $48. Capping off a Wave 5 termination of an intermediate degree.
Prices since corrected or dropped down to $32 and rebounded to about $38.
From here on out.
Anticipating Silver to stay with the near term trend channel to maybe $42. FInish off the mini Wave C correction and continue the decline to $27 .
BIDU - Daily Candlesticks
BIDU - Daily Candlesticks: "
Chinese Internet Stock
Strategy
i. Straddle here at $150 for objective price of $160 or $135
ii. Enter short trade on break of $149 for $135
Overview
Prices has traced out 4 waves count. Anticipating that prices will dive on Wave 5.
Prices at $150/$151 has just touched the bottom of Wave 1. which is a crucial level for this count to work. If it breaks through on close, count has failed. Mission to be aborted.
via Stock Charts.com
Chinese Internet Stock
Strategy
i. Straddle here at $150 for objective price of $160 or $135
ii. Enter short trade on break of $149 for $135
Overview
Prices has traced out 4 waves count. Anticipating that prices will dive on Wave 5.
Prices at $150/$151 has just touched the bottom of Wave 1. which is a crucial level for this count to work. If it breaks through on close, count has failed. Mission to be aborted.
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