For the technical trend and day traders, during any holiday, it is not a good day to trade since the volume is usually really low which can result in false trading signals. This is just a quick heads up for those who are just beginning to learn how to trade. You might as well take a day off, relax, and read a book!
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
Thursday, November 24, 2011
Tuesday, November 22, 2011
Autonation Inc AN
Technical Analysis
We can see it made a triple top and triple bottom, concluding that its in a trading channel. The support (bottom) is at ~$32.5 and the resistance (top) is at ~$40. Currently, we may see a bounce to the upside, but don't be greedy and wait until $40 to take profit, or if you do, make sure you put in your trailing stops so you don't risk losing all your profits. In case it does a reversal and break through, set your stop lost (suggested ~$33) to reduce your risk. Of course, all this also depends on the overall market condition
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
We can see it made a triple top and triple bottom, concluding that its in a trading channel. The support (bottom) is at ~$32.5 and the resistance (top) is at ~$40. Currently, we may see a bounce to the upside, but don't be greedy and wait until $40 to take profit, or if you do, make sure you put in your trailing stops so you don't risk losing all your profits. In case it does a reversal and break through, set your stop lost (suggested ~$33) to reduce your risk. Of course, all this also depends on the overall market condition
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
Monday, November 21, 2011
Keep an EYE on natural gas
Natural gas is extremely low and looks like it is stabilizing for the short term swing. We are in the winter season and last thursday, the EIA natura gas report shows that it rose less than expectation. Oil prices has been rising, therefore, natural gas may start looking more and more attractive.
However, Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (HNU.TO) has announced on Nov.10,2011 is intends to consolidate the units of the ETF 1:4 ratio. Back in history, whenever it consolidates it normally goes down when it is announced, then up a little the day before and the day after consolidation occurs, and then falls even more.
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
NVIDIA Corporation NVDA
NVIDIA Corporation NVDA - Short term ~$15 mid term ~$18
Why to buy?
We are in a tech season right now. NVDA came out recently with good financials. Look at the chart above, NVDA broke through the downward resistance trend line and is creating a base and channel off its lows.
Nov.21 NVDA is currently moving up with volume and the Nasdaq market has gone down a few days consecutively. We may see a reversal with the chart we see today. It broke through the $14 resistance and is staying above. we should see it move above $15 with ease.
However, keep in mind the overall market is still not doing well and we have not seen a clear sign of reversal.
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
Why to buy?
We are in a tech season right now. NVDA came out recently with good financials. Look at the chart above, NVDA broke through the downward resistance trend line and is creating a base and channel off its lows.
Nov.21 NVDA is currently moving up with volume and the Nasdaq market has gone down a few days consecutively. We may see a reversal with the chart we see today. It broke through the $14 resistance and is staying above. we should see it move above $15 with ease.
However, keep in mind the overall market is still not doing well and we have not seen a clear sign of reversal.
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
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