Downtowntrader

Stock Chart POT

2009-07-11T23:05:00.002-04:00

Stock Chart Analysis POTPotash Corp./Saskatchewan (USA)(Public, NYSE:POT)Potash really fell apart on Friday, after trying to hold above the May breakout area. POT, along with many fertilizer stocks were benefiting from the reflation trade that had been occurring over the past several weeks, but that theme came to a screeching halt recently, with most commodities getting hit hard.POT had built a

Update on Oil Market

2009-07-09T10:13:00.005-04:00

Adam Hewison just came out with an update on the oil markets and how a confluence of signals are projecting a pullback to the $59 area followed by likely support. The video is short and sweet, and as always, free to watch. Click on the image below to watch.Good Luck,Joey

Stock Chart GLF

2009-07-05T22:42:00.003-04:00

Stock Chart Analysis GLFGulfMark Offshore, Inc.(Public, NYSE:GLF)Oil stocks got crushed Friday, with many oil service stocks dropping over 4%. With oil down over 3%, it looks like this group may be in for a rough start to the week as well.GLF is an interesting chart in this sector, because while it is down fairly sharply over the past few weeks, it is also very close to breaking a support level.

Stock Chart ZBRA

2009-06-29T09:23:00.002-04:00

Stock Chart Analysis ZBRAZebra Technologies Corp.(Public, NASDAQ:ZBRA)I've been holding a small position in ZBRA for a few weeks now based on the breakout over a large base. Recently it has been consolidating tightly over the prior base, as volatility dies down. It has managed to hold tight, despite a few negative days in the market, and was one of the few stocks to remain over their 20-day

Stock Chart LNC

2009-06-28T21:25:00.003-04:00

Stock Chart Analysis LNCLincoln National Corporation(Public, NYSE:LNC)There is an interesting trade setting up in Lincoln National Corporation (NYSE:LNC). LNC has been very strong the past few months, along with its peers in the Life Insurance sector. It rallied close to 300% from the March low to the recent high near $20. While the rally was large in terms of percentage gained, it really looks

Stock Chart AIPC

2009-06-25T09:21:00.002-04:00

Stock Chart Analysis AIPCAmerican Italian Pasta Company(Public, NASDAQ:AIPC)AIPC was one of the stronger stocks in the market over the past several months, rising almost 700% from March 2008 through April 2009. It has been rising steadily over this time, forming small lateral bases, with gaps above the bases following a few weeks later. Recently, it had been forming another lateral base, but

Mistakes new traders should avoid

2009-06-23T15:37:00.002-04:00

I was featured in an interview by Damien Hoffman of Wall Street Cheat Sheet on the Top 3 Mistakes new Traders should avoid, along with Joe Donahue of upsidetrader.com. You can check out the interview here. Any comments are welcome and appreciated.Good Trading,Joey

Stock Chart ULTA

2009-06-23T00:15:00.002-04:00

Stock Chart Analysis ULTAUlta Salon, Cosmetics & Fragrance, Inc.(Public, NASDAQ:ULTA)I mentioned on twitter today how I was noticing retailers at the high of day in spite of the market hitting new lows for the day. I also noticed this same behavior last week on a weak day. Usually when you see many stocks in a sector hitting highs together, it signals an institution or fund buying a basket in the

Stock Chart MRX

2009-06-18T09:19:00.003-04:00

Stock Chart Analysis MRXMedicis Pharmaceutical Corporation(Public, NYSE:MRX)MRX is posing an interesting setup here. It cleared a long base in May on a high volume gap. It has been trading sideways since the breakout, attempting to fill the gap on a few occasions. Every attempt to pullback into the gap and prior base has been met with sharp buying. Volume has been tapering off through the

Updated look at Gold

2009-06-16T14:56:00.002-04:00

Adam Hewison posted an updated look at gold on the marketclub blog today. With the recent pullback off the highs, it's a good time to look at possible support levels, and what it would take to call a trend change in gold. While gold is still above solid support levels, their proprietary trading triangle have triggered a weekly sell signal. Click on the chart to be redirected to the gold

Stock Chart UNG

2009-06-11T23:58:00.006-04:00

Stock Chart UNGUnited States Natural Gas Fund, LP(Public, NYSE:UNG)UNG has been the hottest ticket on stocktwits the past few days as volume has surged and it attempts to bottom out. While many traders are optimistic about UNG forming a bottom here, there isn't any evidence yet that says UNG is done going lower. The chart for UNG over the past year shows just about the steadiest downtrend you

Indicator for forecasting inflationary cycle

2009-06-10T15:54:00.003-04:00

Adam Hewison of INO Insider blog just posted a new video on how he uses their proprietary trading triangles to trade the CRB index and also how he uses the CRB to forecast inflationary and deflationary cycles.In the video he discusses how the index has been around since 1957 and has accurately forecasted every inflationary and deflationary cycle since.Here are some of his comments surrounding the

Stock Chart ESRX

2009-06-07T23:00:00.004-04:00

Stock Chart Analysis ESRXExpress Scripts, Inc.(Public, NASDAQ:ESRX)ESRX is one of the stocks on my watch list for the upcoming week as it is showing some bullish signs. The chart for ESRX is an interesting one, as it highlights what can happen when one side gets caught by surprise. In this case it looks like the bears were fooled by a breakdown from a base in March. The breakdown was steep and

Reader request: Stock Chart S

2009-06-04T23:43:00.002-04:00

Stock Chart Analysis SSprint Nextel Corporation(Public, NYSE:S)Here is a look at Sprint Nextel Corporation via a reader request. S is at an interesting point here, as it has pulled back to obvious support and is oversold enough that a bounce here could be expected. S had a prior line of resistance around $4.50 that should act as support if tested. It also has a gap that hasn't been filled near

Stock Chart KIM

2009-06-04T23:13:00.002-04:00

Stock Chart Analysis KIMKimco Realty Corporation(Public, NYSE:KIM)I just posted a chart to chart.ly on a cup and handle forming on Vornado Realty Trust (NYSE:VNO) and mentioned how some other REIT's are showing similar patterns. Below is a chart for Kimco Realty Corporation (NYSE:KIM) which is also showing a cup and hande base.It's interesting how the REIT's have been heavily shorted and yet are

Stock Chart WAT

2009-06-01T22:30:00.003-04:00

Stock Chart Analysis WATWaters Corporation(Public, NYSE:WAT)On nights like tonight, most of the charts I find look fantastic, if you are already in. Most are too extended for a reasonable swing entry unless you drill down to intra-day charts and aggressively trade them. It's very important to analysis your risk first, and then worry about the reward. Many stocks look like they could easily tack

Stock Chart VRSN

2009-05-27T18:53:00.002-04:00

Stock Chart Analysis VRSNVerisign, Inc.(Public, NASDAQ:VRSN)Despite the fact that the almost everyone I know believes we are headed to new lows at some point, I continue to see tradeable bottoms forming. Many stocks that dropped precipitously last year, have been trading sideways for several months and are starting to break above these bases. In fact, I am seeing a lot of these patterns develop

Stock Chart BGFV

2009-05-22T09:14:00.003-04:00

Stock Chart Analysis BGFVBig 5 Sporting Goods Corporation(Public, NASDAQ:BGFV)I mentioned BGFV as a stock I'm watching last night on twitter, and promised I would follow up with a chart. BGFV is a very bullish looking chart to me, and could be ready to move soon.BGFV put in a low in November of last year, and started building a several month base after the initial bounce off the lows. It cleared

Gold Outlook

2009-05-21T14:55:00.004-04:00

As I've been mentioning on twitter and the blog recently, I've been focused on the inflation theme for the past few weeks as Precious Metals, Energy, and Agriculture stocks have been rising on the heels of a weakening dollar. Gold is really starting to get going, and Adam Hewison, co-creator of Market Club videos has just released an update on gold. Here are some of his comments related to the

Stock Chart BBBB

2009-05-18T23:33:00.010-04:00

Stock Chart Analysis BBBBBlackboard Inc.(Public, NASDAQ:BBBB)The markets had a strong day today, although on lower than average volume. Advancers led decliners by a healthy margin, as the rally was fairly broad. With most stocks up, it makes you wonder about the few stocks that were lower today. If a stock can't finish positive on a day when the indexes move over 2.5%, than it's a not so subtle

Stock Chart NTRS

2009-05-13T19:23:00.003-04:00

Stock Chart Analysis NTRSNorthern Trust Corporation(Public, NASDAQ:NTRS)I mentioned NTRS in a recent article I wrote for Investopedia as a bearish looking chart, and it is very close to breaking down. Technically, NTRS already fell out of a trading range established between December and April. It has been trading in a very tight range since falling out of the channel and is currently below

Stock Chart INFA

2009-05-12T20:12:00.004-04:00

Stock Chart Analysis INFAInformatica Corporation(Public, NASDAQ:INFA)The chart for Informatica Corporation (Nasdaq:INFA) actually looks very similar to my chart analysis of Riverbed Technology, Inc. (Nasdaq:RVBD). INFA cleared an almost 6 month long base in March, also successfully setting a higher pivot high. The breakout was a little sloppy with INFA testing the breakout area twice in the span

Stock Chart RVBD

2009-05-11T14:52:00.005-04:00

Stock Chart Analysis RVBDRiverbed Technology, Inc.(Public, NASDAQ:RVBD)I mentioned I was looking at RVBD as a swing long on twitter today, and I thought I would highlight what I was looking at. RVBD is in a short term uptrend on the daily chart, setting higher highs and lows over the past few months. It successfully cleared a reverse head and shoulders in February, which could of put in a bottom

Stock Chart GLD

2009-05-08T16:19:00.005-04:00

Stock Chart Analysis GLDSPDR Gold Trust (ETF)(Public, NYSE:GLD)Not sure if I need to add much analysis here as the chart pretty much speaks for itself. Gold pulled back towards a 50% fibonacci retrace in an orderly channel as it corrected from the October to February rally attempt. It recently cleared the channel and has been consolidating over the 20 and now 50 day moving averages. While I have

Stock Chart WNR

2009-05-06T15:19:00.004-04:00

Stock Chart Analysis WNRWestern Refining, Inc.(Public, NYSE:WNR)I was alerted to WNR today on my "Stocks with Mojo" scan from Trade-Ideas. While I typically use these alerts for day-trades, I've found great swing trade candidates from this filter. I really like the price action in this chart, although there are a few divergences on it. Overall, WNR looks like it is clearing a Cup and Handle base