Showing posts with label Summer Trades. Show all posts
Showing posts with label Summer Trades. Show all posts
Saturday, July 05, 2008
Saturday, May 31, 2008
Saturday Rock Blogging: One Particular Harbour
I've got one more summer trade for you. JWN appears to beginning the 5th wave down of the downtrend that began in early 2007. As you can see in the weekly chart below, JWN recently bounced off its declining 200 dma, broke back below its 50 dma and really has the "horse in a burning barn" look to it. If you used the 3rd wave down as a guide then we should target around $20. Maybe btb will shares some thoughts on shorting JWN.
Ok, I'm off to sail the Caribbean Sea for a few weeks. Hope you all have a relaxing and profitable summer. See you on the other side.
Friday, May 30, 2008
Summer Trades 2008
A year ago I did a post titled "summer trades" with the idea of finding some simple trades that require little attention. Like last year, I'll be heading out on vacation next week and I won't be able to monitor positions carefully or do much posting. So here are a ideas for tha summertime.
Last year my favorite trade was JASO long, after buying it myself I suggested it at $8 (split adjusted) shortly after the IPO. The chart developed nicely over the past year and is now in a well established long term uptrend (see weekly chart below). JASO went to $27 and now after a long period of consolidation the weekly looks ready to make the next big leg higher. I think you can be patient on this one looking for buying opportunities under $20. Both the 50 and 200 dma's are rising and should both fail $18 is big support.
IBKR is another one I have liked for a while, it appears to be more urgently breaking out of a nice cup n' handle formation. The rules on this one are simple, buy a break of $33, place a stop at about $31 and target $45.
On the short side, HD looks alot like JASO upside down. After a period of consolidation HD could be ready to resume the long term trend lower. What isn't there to like about this chart with downward sloping moving averages, a CCI crossover and a recent bounce off the 200 dma. Its formed a pennant so I'd wait for a break of $26 before trying to bet against it.
Disclosure: I currently do not own any of these.
Last year my favorite trade was JASO long, after buying it myself I suggested it at $8 (split adjusted) shortly after the IPO. The chart developed nicely over the past year and is now in a well established long term uptrend (see weekly chart below). JASO went to $27 and now after a long period of consolidation the weekly looks ready to make the next big leg higher. I think you can be patient on this one looking for buying opportunities under $20. Both the 50 and 200 dma's are rising and should both fail $18 is big support.
IBKR is another one I have liked for a while, it appears to be more urgently breaking out of a nice cup n' handle formation. The rules on this one are simple, buy a break of $33, place a stop at about $31 and target $45.
On the short side, HD looks alot like JASO upside down. After a period of consolidation HD could be ready to resume the long term trend lower. What isn't there to like about this chart with downward sloping moving averages, a CCI crossover and a recent bounce off the 200 dma. Its formed a pennant so I'd wait for a break of $26 before trying to bet against it.
Disclosure: I currently do not own any of these.
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