Newb Trading

KNOL

noreply@blogger.com (E) — Thu, 03 Aug 2006 02:31:00 +0000

Following this stock for a while and it finally broke resistance with good volume yesterday.

knol080206, originally uploaded by elmer_tang.

OMNI

noreply@blogger.com (E) — Thu, 03 Aug 2006 02:30:00 +0000

Been on an uptrend and looking to test recent highs.

omni080206, originally uploaded by elmer_tang.

KNOL

noreply@blogger.com (E) — Thu, 27 Jul 2006 02:37:00 +0000

Been following this stock for a while. Will it break resistance this time?

knol072606, originally uploaded by elmer_tang.

Nasdaq Surge

noreply@blogger.com (E) — Thu, 27 Jul 2006 02:36:00 +0000

Haven't had the chance to update recently but here's a chart analysis for COMPQ.

compq072606, originally uploaded by elmer_tang.

Midday

noreply@blogger.com (E) — Wed, 19 Jul 2006 17:31:00 +0000

Market responds positively to earnings and Bernanke's speech for the congress. I read the speech and it sounds like he is leaving the door open on pausing. He acknowledges the recent rate hikes might still be in the pipeline and its full effects may not have surfaced and they need to becareful not to go too far. He is concerned about the CPI and the rise in oil prices. He doesn't sound too optimistic about oil prices falling back to previous levels and staying there.

Nasdaq right now has past its resistance at ~2074, lets see if it can stay there.

Earnings

noreply@blogger.com (E) — Wed, 19 Jul 2006 03:10:00 +0000

Yahoo met expectations and IBM beat expectations after the bell today. I expect the Nasdaq to react positively to this. We've been waiting for some good news for a while and this might be good enough to get people buying again. With another huge list of companies reporting tomorrow, there won't be any big rallies. Oil also isn't as overbought anymore so it might bounce back from the two down days.

Intel, eBay, Qualcomm are a few big names that will be reporting tomorrow.

compq071806, originally uploaded by elmer_tang.

Oil on the rise

noreply@blogger.com (E) — Sun, 16 Jul 2006 23:28:00 +0000

The violence in the Middle East has only intensified over the weekend. The G-8 has one voice saying that the violence must stop but has not done much except criticizing the parties involved. Not much action...not much result.

Overseas oil prices now trading at $77.68, slightly higher than friday's close.

Have a good weekend

noreply@blogger.com (E) — Sat, 15 Jul 2006 01:57:00 +0000

Nothing new to write about. Market continues its way down. What the international community does about the crisis in the middle east may detemine what happens Monday.

Enjoy the video(not related to the market for once) and the weekend.

G8 Summit

noreply@blogger.com (E) — Fri, 14 Jul 2006 14:29:00 +0000

Its clear that the leaders at the G8 summit all want an end to the violence in the Middle East. There's a good chance that Israel will be pressured into a cease fire. Lebanon had already commited itself to a cease fire less 24 hours ago.

This might be a turning point for the stock market as oil will ease back.

More importantly though is that a full out war may be prevented and no more innocent lives are lost.

Another sell-off

noreply@blogger.com (E) — Thu, 13 Jul 2006 20:50:00 +0000

The Nasdaq dropped below technical support at ~2070 and just kept dropping. I had to pull up the one year chart to find the next support level, that pretty much sums it up.

So the reason for the drop seems to be middle east tensions which may affect oil supplies. High oil prices add to inflation which leads to rate hike concerns again. So I'm wondering how is it possible that the market can go up in the longer term if high oil prices have such a negative impact on the market. For what reasons would oil prices actually decline and stall at a comfortable level? I can't seem to think of one.

The market should technically bounce according to the CCI and Stoichastics. The volatility indicator isn't quite high enough to justify panic selling.

In the short-term the markets may bounce but hows it possible for the market to break its downtrend when oil prices aren't going to lower significantly anytime soon?

Sounding bearish and MAD. LOL =)

Lone Star

noreply@blogger.com (E) — Thu, 13 Jul 2006 01:42:00 +0000

KNOL is the lone star on my list of watched stocks. Broke out of the ascending triangle pattern a week ago but has been strong for the last three days.

Starting with the hammer candlestick on monday and following up with two strong gains on higher volume compared to the two down days prior to this series.

Stock is not overbought yet but no longer oversold.

knol120706, originally uploaded by elmer_tang.

noreply@blogger.com (E) — Thu, 13 Jul 2006 01:30:00 +0000

Ouch
Big drop today on the Nasdaq after a slight rally yesterday. Giving back every gain and more today, it continues to look bearish. Only hope is that support holds up near 2074 and that indicators showing near oversold conditions encourage buying.

noreply@blogger.com (E) — Tue, 11 Jul 2006 16:47:00 +0000

Name change
I feel that 'Trading' is more valid than 'Investing' for this blog because of the short time frames and the pure technical analysis I do on the stocks.

It really doesn't matter but it just bugged me. =)

noreply@blogger.com (E) — Mon, 10 Jul 2006 22:10:00 +0000

Nasdaq really looks THAT bad?
As much as I'd like to prove everyone else who's been saying this wrong, I can't. The good news is the chart could look even worse. Lets hope it doesn't break that trendline tomorrow.

noreply@blogger.com (E) — Sat, 08 Jul 2006 15:47:00 +0000

Oil
Prices should pullback somewhat next week due to overbought conditions. If the pullback occurs, it would be a good opportunity to pick up some oil stocks. The summer has just started and I believe these oil prices will continue to rise after this pullback. The key resistance right now is at $75.

Earning season begins this Monday with Alcoa reporting. Most analysts believe that these sets of earnings will continue to be strong and drive the market up. If earnings reports are good and oil pulls back slightly, the coming weeks may be positive for bulls. BUT with 3M's recent warning results may not be as upbeat as analysts want them to be and maybe commodity prices are starting to hit profits.

noreply@blogger.com (E) — Fri, 07 Jul 2006 03:22:00 +0000

IMCO
Opportunity to buy off the trendline?

noreply@blogger.com (E) — Thu, 06 Jul 2006 14:56:00 +0000

Record price breaks

AD	35.95	11.69	4,987,100		Record Price Break Out
DLP	32.23	2.94	227,700		Record Price Break Out

(source: clearstation)

noreply@blogger.com (E) — Thu, 06 Jul 2006 00:31:00 +0000

SIMC
Heres a stock which I started tracking after it was recommended on Knight Trader blog. Fundementally speaking this stock isn't something I normally would invest in since it has such a high P/E. But, the chart does look really strong. Today with the Nasdaq down 1.69%, it still was able to put up a 5% gain.

noreply@blogger.com (E) — Wed, 05 Jul 2006 02:20:00 +0000

KNOL Chart
Looks good but insider sale near 52-week high.

noreply@blogger.com (E) — Fri, 30 Jun 2006 11:09:00 +0000

A-list today:

Symbol	Last	Change	Volume	Event
LVS	74.04	4.94	3,273,500	Record Price Break Out
NFB	30.43	0.41	4,503,500	Record Price Break Out
PCAR	82.08	2.88	1,131,524	Record Price Break Out
RSAS	22.87	3.52	11,477,430	Record Price Break Out
BBY	55.20	2.55	4,261,700	Trending Up
UTX	63.29	1.96	3,732,400	Trending Up
BOOM	33.23	2.31	793,224	Trending Up
HLTH	11.69	0.29	2,187,943	Trending Up
HPQ	32.02	0.44	12,872,300	OverSold
MNI	39.70	0.70	1,552,900	OverSold
GENZ	61.59	0.38	2,597,194	OverSold
RBAK	18.50	1.12	1,997,569	OverSold
DUK	29.69	1.31	10,234,000	Analyst Upgrade
IGT	37.18	1.25	3,721,300	Analyst Upgrade
SIMG	10.86	1.73	5,121,527	Analyst Upgrade
TLAB	13.41	0.54	8,486,466	Analyst Upgrade

noreply@blogger.com (E) — Thu, 29 Jun 2006 23:00:00 +0000

Changing my opinion on Etrade
Now that the Fed has said what they had to say, I feel that the online brokerage sector which was one of the hardest hit during the sell off will start to recover. The reason why my opinion was 'short' even when it bounced and gained nearly 10% in one day was because I felt that inflation fears and the reason behind the sell off were still there. Things look to be different now so I am going to change my opinion to 'long'.

A few posts ago I did a techinical analysis on Etrade. I must admit that was pretty dumb as any rules would not have applied following the Fed.

noreply@blogger.com (E) — Thu, 29 Jun 2006 18:25:00 +0000

25 basis point hike
FOMC Statement
I just finished wiping sweat off my forehead. Haha...

noreply@blogger.com (E) — Wed, 28 Jun 2006 20:22:00 +0000

BA Hammer Candlestick?
I hope so. I'm sure this hammer will mean nothing if the Fed's decision is negative tomorrow but if its not it might signal a push back above 50 MA.

For those who don't know what I am talking about:
"The hammer typically appears after a prolonged downtrend. During the period of the hammer candle, the stock or index experiences strong selling. As the day or week goes on, however, it recovers and closes near the unchanged mark -- and sometimes even higher. In these cases, the market is potentially "hammering" out a bottom." --streetauthority.com

noreply@blogger.com (E) — Wed, 28 Jun 2006 18:45:00 +0000

Not much action
An hour and a bit more till closing and the two indices are up modestly. Regardless of todays outcome tomorrows Fed descision is whats going to determine the markets future. The market looks like its on hold for this reason. I'm nervous about tomorrows decision as there has been more and more rumours about a half point hike which the market will not take positively. We will see, quarter point hike with signal of possible pause will mean a huge rally.

noreply@blogger.com (E) — Tue, 27 Jun 2006 23:39:00 +0000

Frustration! Grrr
Not about the market this time.

I don't use IE often and I haven't viewed this blog with it ever. When I loaded the site I saw what all of you have been seeing...a site that looked like it was just hacked. Sorry to all the IE users. I fixed the CSS code and posts that defaced my site. Please email me if similar problems occur in the future.