Yesterday just I gave a close friend on some 101 concepts about TA of Stock research and candle stick chart.
I mentioned the Dry bulk Index and credit balance mutual fund current are all at lower level, which may indicate the market is still weak. So it s a short technical rebound last week that may not last long. Look at the volume, it s keeping lower volume on Friday. As I explained in one of my email, Friday's unemployment index was important. The lower level than last week made the market positive. After checking on the Fibonacci on the S & P charts, S &P if over 1070, it should keep up or it should fall down below 1000.. Friday is up and to the edge. What about next week?
Currently I have Put DO, Aug, 80. The stock price is 64.40. Break even now. Price up and down quite bit, good for intra day swing trade. (5%) at least.. I analyzed the price pattern on Wednesday, everything I forecast was correct.
Need to do more research to see how it goes and when I should get out.
In recent 2 weeks, I feel I am losing my sense for the market and I need to have my focus back again.
Some good websites for prescanning and ticker picking.
www. stockcharts.com
MSN
In next blog I may add more on the TA demo and charts as well.
Great work..thanks for starting the blog..I will be the first one to read it :))
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