Monday, April 20, 2009

Nasdaq Distribution Day




11 comments:

Anonymous said...

hi.. why only a quick flip with FAZ? Looks like it's got plenty more in it.

great blog, btw.

Stewie said...

thanks you good sir. if you twisted my arm, i'd give FAZ a $15 -$18 within a 2 weeks time. volume is very hard to ignore and now looks like a solid bottoming pattern is about to take shape. in hindsight, friday's candle was a clear buy signal. shame i missed it!

szaman said...

Stewie- Have FAZ/SRS from friday.Sold half position. Riding the other half.Friday was a buy signal. Apex of rising/falling wedge.

Stewie said...

congrats szaman: looks like some fuel left in the tank.

fizzy said...

yeah i missed the FAZzy bottom too.
saw it, thought it but missed it.
in for the ride anyhow is i broke one of the stewrules again and went down with the dip.
this time the stop is firmly in place.

b/t/w stew, FEED rocks.
do jeh!

Anonymous said...

Yesterday Bears were very sure the Ending diagonal was going to take the market directly to 780.

If it's just a simple uptrending channel??

http://img258.imageshack.us/img258/1908/52608208.jpg

Anonymous said...

Yesterday Bears were very sure the Ending diagonal was going to take the market directly to 780.

If it's just a simple uptrending channel??

http://img258.imageshack.us/img258/1908/52608208.jpg

Anonymous said...

Stewie, what do you think about FAZ after today? I should just stop trading these FAS/FAZ. I suck at it :(

Anonymous said...

Clear H&S underway on the financials.

Beautiful pullback to the neckline. Expecting to see new highs for this rally.

http://img15.imageshack.us/img15/6834/gldt.jpg

GL.

Stewie said...

FAZ/FAS the evil twins.

Stewie said...

anon: i really like your charts but something felt very fishy about today sudden spike in financials. I definitely need a few more hours/days of price action to be able to put the puzzle together. based on price alone, today's rally was a vicious short squeeze. Is it possible that we have more bears hidden in the market with the development of that infamous wedge.

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