Saturday, November 8, 2008

I Am Seeing This Pattern All Over











Seeing Head and Shoulder patterns on many issues i follow, FWIW. We shall see if patterns mean anything anymore in this new market.

Trade em smart!

12 comments:

Anonymous said...

CF Looks like a monster if it plays out. Roughly 97 for a target???

Anonymous said...

What does head and should imply? Good or bad sign?

Rick said...

Inverted head and shoulders like we're seeing now is a bullish reversal pattern. Normal H&S is bearish.

SkyTrader said...

yeah I'd say ~$100 target for CF too, if I thought the ferts had anything left in them. Just don't think they do. Chart's busted - take a look at the 2 year.

SkyTrader said...

yeah I'd say ~$100 target for CF too, if I thought the ferts had anything left in them. Just don't think they do. Chart's busted - take a look at the 2 year.

Market Monk said...

Hey Stewie, great bunch of charts. I just did a post on my blog about where folks can find a series of video tutorials on chart patterns.
http://marketmonksmusings.blogspot.com/2008/11/chart-patterns.html
MM

Anonymous said...

inverted head and shoulders is bullish, my target to it if it develops is SPY 1160, as crazy as that sounds. but its a rough measurement from neckline to head.

Stewie said...

these are INVERSE H&S patterns and they opposite the H&S topping pattern. these patterns are usually seen as bottoming formations.

Ralph said...

I enjoy your blog very much. However, can you elaborate on the money management method you employ when managing a trade? For example: (1) % capital risk per trade, (2) Setting of initial stop, (3) Moving stop to b/e, (3) Banking some profits, (4) Letting profits run.

Thanks, Ralph

Paul said...

Sky, I'm with you, CF definitely looks busted.

Sia said...

Although I am slightly bullish, people should be careful and not expect a great rally. There are still many worried and weak investors out there. Deleveraging means less money in stocks.

Cliffynator said...

Thanks for the "heads up", Stewie. I'll be watching MBI for greater % gains. More risky tho', of course.

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