Saturday, August 25, 2012

"Come on baby light my FIRE"

The market this week traded a little tired. The good news is that when this occurs it helps one identify great opportunities that are set to go.  Case in point, FIRE has shown up in scans as a potential rocket ship.  Notice that after earnings and some selling pressure, support was found at the $42.50 area.  Now the stock has moved back and breaking out of a technical pattern know as a Broadening Wedge, Descending.  Notice that shape of this pattern looks like a megaphone. We will follow this stock over the next eight weeks and see if it has the right stuff.  The parameters are set with stops at $49.25 with a potential move to $67.00 makes this stock exciting to follow for most game changing stocks mature in the 50 dollar range before really moving higher over time.  So buckle in make sure all systems go  For more portfolio ideas to boost your returns, email me at jason@themoneychart.com. Sign up today for a free two week trial, that never requires a credit card.


Sunday, August 19, 2012

CONN, Could be a Scallop in the making.



The market this week continues to move higher leaving the media and others asking the question why? Summer rallies do occur, even while the big money is out on vacation. Isn't this rally on light volume? Yes, but price trumps volume and we(at this point in time), are the best looking house on a block that looks dilapidated.  Focus, focus, focus. Always observe how leaders are impacting the market. They help push the market higher when they rise while pushing the market down when they decline. Take a look and AAPL and GOOG charts, both look like drag race to see who can get to $700.00 first.  Believe it or not, GOOG is closer than AAPL. A by product of positive markets are the explosions in stock movement, Technically speaking Flags and Scallops. Today we will take a look at a Potential Scallop and track how it performs over the next few weeks.  The Ticker symbol is CONN.  Notice the price spike in volume on August 7th,2012.  The stock then proceeded to move sideways like a crab and on Friday August 17th, 2012, the stock closes above previous highs.  This is an optimal time to go long, using the low of $20.76 on August 14th, 2012 as the stop.  The potential distance of this stock is $27.00.  Now let volume be your guide to help push this stock higher. We will follow this one and see how this scallop turns out. For more ideas like these email: jason@themoneychart.com for a 2 week free trial of our nightly newsletter used to find the next daily movers(no credit card required).  Thank you for your time and have a great trading day. Have to mention, a must have book for the true stock market technician, titled:  Encyclopedia of Chart Patterns, 2nd edition by Thomas N. Bulkowski.    You will not regret it. (click on chart to enlarge for better viewing.)



Saturday, August 11, 2012

DTV is for ME!!!



Here is one of many ideas that has come to mind. Lets review a weekly chart of DTV. Notice that this week after a year of consolidation it has broke out to the upside.  Technically this chart pattern is know as a symmetrical triangle, with a Target Objective of $63.00, stops are at the low of this week which works out to about a 6.% stop.  Keep in mind if DTV meets it objective of $63.00 that is a 21 % gain, putting the risk reward ratio at 3.5/1.  Good numbers to work by.  If you would like more ideas to reduce the homework part of trading, email me a jason@themoneychart.com.  for your free two week trial to www.TheMoneyChart.com, No credit card required.  As always best of trades and take all ye can and give nothing back!

It has been some time since posting due to building and setting up my personal hedge fund. Get ready though blogs a plenty will be hitting soon about trade ideas and more on how to navigate the market. The song to welcome back carter seems appropriate. It is good to be back. Jason T. Campbell