Instead I will use this dip to make a few more buys. On my radar I’m looking at S, [[PALM]], GHM, LDK, WTI, more UA, EBAY, TSO, ATVI, HANS, CHL, and a “DT” favorite, GAIA
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Joined Jan 27, 2008
7,405 Blog Posts
Bullish
Still looks bullish to me, especially that last candle.
The fact that we are right at resistance and refuse to sell off is a good sign for the bulls. I’m watching for a break above the downward sloping channel (green line). A sell-off is still possible, but I like my chances being long here.
The orange line (@ 800) is an area, if broken, I will begin to get defensive with my longs. However, we also have the 50 day moving average which is right underneath, for added support.
Again, I like my chances being long.
Top pick: LDK (provided it trades above it’s 50 day)
(disclaimer: long LDK call options)
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Update: Don’t forget about FEED
Watchlist
FEED: Bull Flag, buy on strength in Ag
JASO & LDK: Both look good if we see continued strength in solar
WTI: Cup & Handle, buy on oil strength
ATVI: looking good above resistance
GU = BTFO
Now if things get bad and start rolling over, go with Fly’s favorite short, WFC:
Earnings:
Banking Coin
March 3rd 2009, It all started with a simple poll, surveying the public if they would buy C near $1/share. Blood was flowing throught the street and nobody wanted to buy stocks.
The following day, March 4th, I decided it was time to deploy a little bit of capital on this long side. Then, the very next day, I wrote a post titled, “Why not buy something?” This was a simple post basically explaining that fear must be bought in order to bank a little coin.
And, then it happened, March 6th, we got “The Mark Of The Beast” 666, which now looks like it may have been the bottom (at least for now).
March 10th, I followed up with anther post explaining that now was the time to buy– The 666 bottom. Nobody was convinced, but I continued to hit you with posts such as these, Am I buying?
The next day rolls around, March 11th, and I wanted to show you how I really felt.
We’re now in the 1st week of April and my stocks are paying huge dividends, my GOOG buy was around $300 and today it closed near $370, just to give you an example.
However, we are near the top of the S&P channel @ 845, it will be critical to see how the market reacts from this point on. I still have a bunch of longs in place, but I’ve also taken some profits along the way.
I recently bought a few bear funds, FAZ & DUG, but I will continue to be in the bull camp searching for longs. As you know, things are always developing…. be prepared for anything.
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