Tuesday, June 2, 2009

ABAT Setting Up In A Tight Coil

8 comments:

Gio said...

Aloha Stewie!! Thanx for stopping by at my ibc-tab. did u see the game? Ronaldo blew it. Lol. you still playing? I've been running with the spanish down here, they're fancy, but I keep it simple and just score. bwa ha ha. Anyway, I see you've noticed there's a bunch of stocks that are consolidating right at their 200ma... should be very interesting this month.

ciao!

-gio-

Stewie said...

ciao gio!!

of course i am still playing. 3 times a week. good to hear you are still playing brother.

Paul D said...

any thoughts on XLF? you posted on it a few days ago...also FSLR looks like it could pop up to 240 area.

Stewie said...

hi paul,

I think XLF is gonna be stuck between the 20 and 200 day MA for a while bro. FSLR could be hovering sideways for some time as well. i like fslr prospects better tho.

bill said...

Hi Stewie,

i had followed you for along time, you are pretty good. I can daytrade. I can only trade RYDEX funds(twice daily). I have considered to get your subscription to just see what you pick. I am building my knowledge before i jump in.

I went long IWM and QQQQ last monday, after being bear for few days. My question to you is where do you think we should stop out. If it breaks below 920 on ES does it invalidate the bullish case.

appreciate you work
Bill

Stewie said...

hi bill,
you are holding qqqq and iwm which are the clear leading indexes for this rally, i like that already. i will also say that if we head to 920 within the next few days that:
A: that would very much surprise me as i believe we are headed higher(but as you know opinions don't count for anything, the market will do what it wants to do).
B: if we do rollover here and break 920, then i'd have to say that the bullish case will be halted dead on its tracks.
either way, make sure to protects gains, if you are nervous, then sell 1/3 and hold 2/3.

i am actually expecting tomorrow to be an UP day and i will have to gauge tmrw's strength to see what we are in for. we shall see...

hope this helps.

good luck.

bill said...

Thanks Stewie,

there used to be a site where you used to post ONH trades, those were great. Do you still make those call. Now whenever i get some time during FT job i follow stocktwits and IBC is my regular stop.

thanks
Bill

Stewie said...

i think you are referring to wallstreak.

i do ONH all the time but mostly for the service now.

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