Wednesday, July 1, 2009

Simple Is Beautiful

Instead of fancy indicators, expensive platforms or cutting edge technology, sometimes it's just better to eye ball several charts and judge whether you see supply or demand dominating the price action. Most of last week and all this week, LONG trade ideas were severely lacking. When i scan intra day for LONG trades, the results are far and few between and i see close to nothing to get me excited. Leadership on the upside has been very poor recently meantime i continue to see many more charts setting up in supply dominated price action. Just look at several charts and ask yourself if you see supply or demand dominating the price action. Eventually the indexes will follow what these stocks are hinting at. here are some examples. I ask you this: How long can you see charts patterns that look like these before the indexes roll over?


Anonymous said...

Wow these stocks all look bad! I wonder how the market is doing relatively well. There must be some other stocks that are making highs.

Stewie said...

many of the strong stocks that pop up on my screens of 52 week highs are mostly lower priced stocks. $10 or less in price and i do not see a clear theme for leading stocks. A stock picker's market is you will.

Anonymous said...

thanks dude..i would play with POT and RIMM for shorts

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