Ticker: CREE Company: Cree Inc Number of Shares: 150 Purchase Price: $68.92 Sell Stop: $65.80 Target: $72.00 Explanation: Buy stop for Cree was triggered, which means I am long 150 shares of CREE at $68.92 To read original post regarding Cree Inc please click on this link Its Almost Time To Buy Cree Inc CREE … [Read more...]
Bullish Engulfing Pattern – Men’s Warehouse, Inc (MW)
January 7, 2011 By 3 Comments
On December 8, 2010 MW gaped down after men's clothing company gave a disappointing fourth-quarter outlook. Shares tumbled more than 15% in one day to $23.65. I have been watching MW since it released its earnings, and was not sure where it was going. My opinion changed today when I saw a bullish engulfing candle. In the chart below I drew two resistance lines above its current price, resistance line 1 is just 40 cents above its current price of $25.57. I will be buying 300 shares … [Read more...]
Sohu Inc (SOHU) Is Heading High
January 7, 2011 By Leave a Comment
Sohu gaped up on October 25, 2010 after it released its better than expected earnings. After touching $80.94 it started a down trend. It did broke this down trend on December 3, 2010 but could not go thru resistance 2. Currently it is trading at $68.68 area after three consecutive up days. Next big resistance is at $68.80, and it will be interesting to see when it will cross this resistance. When ever it does I will be ready on the other side to make my move. In this chart I drew two support … [Read more...]
Sold McGraw-Hill Companies Inc (MHP) to take profit
January 7, 2011 By Leave a Comment
Ticker: MHP Side: Long Number of Shares: 300 Purchase Price 150 Shares: $35.33 Date Purchased 150 Shares: December 1, 2010 Purchase Price 150 Shares: $37.04 Date Purchased 150 Shares: January 5, 2011 Sold Price 300 shares: $37.84 Date Sold: January 7, 2010 Difference: $1.65 Total Profit: $495.00 Explanation: I made money on this stock and hate to lose the profit. Seems like this stock is following the market and going down at this time. To check my original post about McGraw-Hill … [Read more...]
Sold Best Buy (BBY)
January 7, 2011 By 2 Comments
Sold Best Buy (BBY) To Protect Profit Ticker: BBY Side: Long Number of Shares: 100 Purchase Price: $34.04 Date Purchased: December 23, 2010 Sold Price: $35.12 Date Sold: January 7, 2010 Difference: $1.08 Total Profit: $108.00 Explanation: This stock crossed resistance line 1 on January 5, 2010 and reversed back the same day. After watching it for last two days, I have a feeling that it is heading towards the support line 1. I will be watching BBY and might take a position … [Read more...]
Its almost time to buy Cree Inc (CREE)
December 26, 2010 By 1 Comment
on August 10, 2010 CREE gaped down a day after it announced its earnings for the quarter. After going down to 52 week low of $47.30, it went sideways for quite a few days before it started an uptrend. On December 13, 2010 it completed the cup and formed a handle in next few days. Currently it is trading at $67.96 after creating an engulfing bullish candle on December 22, 2010, and continued the bullish candle next day on December 23, 2010. Lets look at the daily candlestick chart of CREE. … [Read more...]
Best Buy (BBY) is Just 3 Dollars away from 52 Week Low
December 22, 2010 By 2 Comments
Best Buy is currently trading at $33.52, less than 3 dollars away from its 52 week low of $30.90. On December 14, 2010 BBY had a big gap down after it announced its earnings and missed markets expected estimate by few cents. 52 Week low is a very important support for many stocks most of the time, and the possibility of BBY to bounce off of this support is great. Looking at the daily candlestick chart for BBY one can see that there are three possible scenarios, and I want to be ready in any … [Read more...]
NDN Could Break Through Resistance of $16.78 in Next Few Days
December 19, 2010 By 5 Comments
On October 8, 2010 NDN gaped down and has been trading below $16.78 since then. It tested this price level three times, one on October 19th, then on December 8th, 2010 and finally on last Friday December 17th, 2010, which makes this price level a very important resistance level. The question is when NDN is going to break through this price level and when should we be buying this stock? Well to figure this out, lets look at the daily chart of NDN below, so we can be ready when it does cross this … [Read more...]
Sold Columbia Sportswear (COLM):
December 10, 2010 By Leave a Comment
Sold Columbia Sportswear (COLM) to take Profit Ticker: COLM Side: Long Number of Shares: 150 Purchased Price: $56.88 Date Purchased: December 1, 2010 Sold Price: $60.40 Date Sold: December 10, 2010 Difference: 60.40-56.88=3.52 Total Profit: 3.52 X 150= 528.00 Explanation: The stock is reaching its 52 week high, and runs into a risk of trend change. I sold the stock and took the profit. I will be watching this stock at the 52 week high level for then next trade. To check my … [Read more...]
Eli Lily and Company (LLY): Could Turn Bullish In Few Days
December 4, 2010 By Leave a Comment
LLY closed at $34.14 on Friday December 3, 2010, and has been bearish since touching 52 week high of $38.08 on October 19, 2010. If you look at its daily chart closely you will find that the stock gaped down a day after the company reported its earnings. I have been watching this stock since then, and I think it is almost time to take action to make some money. Lets look at its daily chart where I drew two support lines below and two resistance lines above its current price level. Like always I … [Read more...]
Coca-Cola Company (COKE) is trading just below its 52 week high
December 2, 2010 By 1 Comment
On July 6, 2010 COKE touched its 52 week low of $45.51. A day after it started an uptrend and currently it is trading at $58.12, which is just below its 52 week high of $61.00. 52 week high is a very important resistance level, most of the time the stock will turn its trend. It is highly likely that this stock will start a down trend. So here is my plan for this stock. Like always I will be allotting 10,000 dollars for this trade, that means I can afford to short about 150 shares. I … [Read more...]
Columbia Sportswear Company (COLM) Cup and Handle in Daily Chart
November 30, 2010 By 1 Comment
Here is another trade idea, Columbia Sportswear company COLM made a perfect Cup and Handle in daily chart, between April 23, 2010 and October 28, 2010. Shown below is a daily chart of COLM, where I drew a support line at $53.21 below its current price and two resistance lines, one at $55.90 and one at $61.22 above its current price. The second resistance line is also a 52 week high for this stock, which is going to be our target. Like always I will be allotting $10,000 for this trade, that … [Read more...]
Are Bears leaving McGraw-Hill Companies Inc (MHP) for Bulls
November 28, 2010 By 1 Comment
If you look at the daily chart of MHP, you will notice that on November 24, 2010 it formed a Bullish engulfing patter. What is bullish engulfing pattern you ask? Well it is a chart pattern that forms when a small red or bearish candlestick is followed by a large green or bullish candlestick that completely engulfs the previous day's candlestick. Let's look at the above daily chart. The day it formed a bullish engulfing pattern it also broke the down trend, shown as yellow line, and is … [Read more...]
Aeropostale Inc (ARO) Cup and Handle in Daily Chart
November 22, 2010 By Leave a Comment
Aeropostale Inc (ARO) founded in 1987 headquartered in New York, New York, operates as a mall based retailer of casual apparel and accessories for teenagers. If you pull up a daily chart of ARO, you will notice that it has formed a perfect cup and handle. It took about 52 days to form a cup and about 14 days to form the handle, on November 5, 2010 the handle broke the down trend is in uptrend since then. As you can see in the chart, I drew four support lines below the current price and … [Read more...]
My Swing Trading Strategy for Abbott Laboratories
November 21, 2010 By 1 Comment
Abbott Laboratories (ABT) Founded in 1988 based in Abbott Park, Illinois, engages in the discovery, development, manufacturer, and sale of health care products worldwide. ABT is currently trading at $47.40 and is in down trend since October 18, 2010. Lets look at a daily chart of this stock to better understand. This stock broke the uptrend on October 19, 2010, started a down trend and currently trading at $47.40 heading towards two important support lines, support line #1 at $46.86 … [Read more...]
