I've created this blog mostly as a venue for me to store charts. I find myself emailing charts all the time and figured I might as well just upload them to one place and just give out a web address. Initially this will be a weekly updated site, with my picks for the week being posted on Sundays. Please let me know what you think, input is always welcome.
This week's picks were ICE short, and RACK long. Please note that I picked these last Sunday, so the charts are no longer current. But I think they are useful nontheless.
ICE has already collapsed down to my target around 55, unfortunately I missed the ride. SIlly me. I am now long at 54.30 looking for the right shoulder of a head and shoulders top. Notice how it closed today(not on this chart) right at support, I think it is a good short term long. My target on the long is the 50 dma.
I bought RACK calls at the open monday and sold them yesterday for a quick 40% profit. It's direction from here is unclear to me.
This CME chart may be of interest, it apears to have the most room to fall of all the broker/dealers. If ICE is any indicator of CME's future this may be a great short. I see a long term top, maybe a slanted head and shoulders on this one. Note, it is halfway to my 400$ target.
Wednesday, May 24, 2006
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