Chipotle Mexican Grill, Inc. [[CMG]] longer term hold.
Comments »Be Careful
In the last full week of August I plan to be very selective with my trades. We are still in a low volume environment which give us a lot of choppy action, no follow through.
I have yet to take any trades and may not trade at all today. One stock I’m watching is Research In Motion Limited (USA) [[RIMM]] , it tested our trendline this morning and is now free to move higher. Over $134, and I will be adding to my position.
As far as solar goes, I am not chasing anything up here. I have a heavy position in Energy Conversion Devices, Inc. [[ENER]] and will ride this thing until earnings, where I will take half my position off. If I had to pick one to buy at this level it would be SunPower Corporation [[SPWR]] .
Sequenom, Inc. [[SQNM]] BTFO, but had no balls to take the trade.
note: Leave comments, keep me updated with stocks on your radar.
Comments »Short Ag / Short the Market
I will be looking to short the Agriculture space by buying puts in [[DBA]]
Going through a few charts tonight, I notice Ag is ready to resume it’s recent downtrend. DBA, which measures the space, rallied above the 50 MA, but failed to hold. I will be now be looking for a break below the 200 MA with significant volume.
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Also, the market is at a critical juncture. Let’s take a look at the [[SPY]] , which measure the S&P 500.
Last week we saw a clear break in our recent trendline, then Friday we saw a re-test back to that same level. I will be watching to see if we can clear 130 with significant volume.
If we fail to move past resistance (recent trendline), I will be looking to short the market.
Comments »Chart School
Bullish Chart Patterns
- VIDEO – Symmetrical Triangles
- VIDEO – Ascending Triangles
- VIDEO – Flags
- VIDEO – Wedges
- VIDEO – Pennants
Bearish Chart Patterns
- VIDEO – Symmetrical Triangles
- VIDEO – Descending Triangles
- VIDEO – Flags
- VIDEO – Wedges
- VIDEO – Pennants
- VIDEO – Rectangles
Earnings
Solar Stocks: SPWR, YGE, STP, FSLR, LDK, CSUN, ENER
Video: [[SPWR]], your best bet.
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Quick Note: Solar is not Dead
Just today Yingli Green Energy Hold. Co. Ltd. (ADR) [[YGE]] announced plans to build a 10-megawatt solar power plant in Beijing.
Earlier this week Suntech Power Holdings Co., Ltd. (ADR) [[STP]] announced a great quarter and boosted it’s full year outlook.
Last week, SunPower Corporation [[SPWR]] hooked up with PG&E for a massive solar project.
July 30th, First Solar, Inc. [[FSLR]] announced “steroid like” numbers, but peopled blinked.
LDK Solar Co., Ltd. [[LDK]], go take a look at the numbers from last week, incedible.
I have yet to go over China Sunergy Co., Ltd. (ADR) [[CSUN]] quarter, but based on the stock’s reaction, it looks like another win for the group.
Note: Energy Conversion Devices, Inc. [[ENER]] reports next Thursday
Note II: Oil got hammered today, yet the group stayed strong.
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