Night Owl Open Forum

For you night owls out there, if you missed my weekend video check it out below.

Also feel free to drop your thoughts to me about the market overnight.

What say you about the rotations into the energy and defensives, away from tech and biotech?

Speak your mind, night owls.

It is that kind of market right now, where defensive names like Kellogg represent the highest quality long setups seen.

On the first daily chart, note the attractive bull flag consolidation ripe to brake higher. This is a name we have looked at many times on longer-term timeframes in recent years as being a solid investment idea, as well.

And on the short side, I am looking at AmEx if it heads back down towards $85. or the 150-day moving average, and threatens a daily chart bear flag breakdown. Earnings are out of the way, and the stock is showing signs of being under distribution, or heavy selling by institutions.

Drop me your top tickers overnight.

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A rare stump of the readership in my latest Name That Chart post.

The correct answer is that the mystery chart was the quarterly of TI, Telecom Italia SpA, dating back to 1996.  Note the falling wedge, light blue lines I have drawn, on this Rome-based Italian telecom giant.

Italy has outperformed of late, and this may be a good long-term idea if you think it is emerging from a long downtrend. You also receive a 2.2% divvi.

What do you think about TI?

Thank you to everyone who played.

I will be back later with ideas for Monday.

But I already gave tight analysis in my latest Weekly Strategy Session published, earlier today. Check it out!

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Hint this week: Pronto!

Try to guess:

1. The ticker symbol of the chart;
2. The sector in which the stock trades; and
3. Whether or not you think the stock will move higher or lower throughout 2014 or will break lower.

Thank you to everyone who has been playing along.

Please click on chart to enlarge

[Members: My latest Weekly Strategy Session has been published]

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While I finish up my Weekly Strategy Session, enjoy one of my favorite photos from World War II, above.

What’s on the menu for Sunday/Easter brunch?

Back with Name That Chart later…

The Last Good Time (1994) is an underrated gem of a film. Despite no major stars, or anything close to it, the cast features memorable character actors with decades of legitimate and seasoned performances, namely  Armin Mueller-Stahl, Maureen Stapleton, and Lionel Stander.

From imdb.com:

A reclusive aging widower struggling with tax problems has a complete change in his views of life as he has a chance encounter with a young woman who moves in with him briefly.