So, the market bent but didn’t break in last week’s whiteout. And today, the first day of the month, is a party-fest.
We are on our way to the SPX 1120-1130 area. We will carefully examine each of our positions initiated on IBC. We DO recommend a lot more things to do, but they are behind a paywall. Imagine if you had that here at IBC…Stocks, charts (maybe some fundamental analysis too) and special video? On IBC.
I don’t claim to have Merlin-like powers, nor can I travel time. I don’t have a spaceship either. But I do know how to hit doubles, triples and an occassional in-the-park home run. I also outline the plan BEFORE I make a trade–and keep the losses small. I try not to figure it out AFTER I’m stuck.
More, later…
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Hi scott. Don’t we need to break 10,433-438 range to confirm this?
What am I missing?
Nope. We just have to get there. I’ve been holding out the SPX 1120 target and I’m still sticking to it. BUT that could change at any time as we adapt to the changing market conditions…
Scott – I’m not a pro but KLIC looks like it could be breaking out from a downsloping pennant after the juicy Flagpole which commenced right after you identifed the buy point just under $5.00…If I am applying Bulkowski’s Measure Rule for Flag/Pennants correctly, I come up w/ a price target near $7.60…which is about where you set the original target, if I recall correctly. I bought at $4.95 and have held though should probably have sold on 2/16 when it hit 7.59 intraday…point is we may get another shot at those numbers soon if this chart pattern holds, which Bulkowski gives a 60% probability based solely on chart pattern – if I am reading this right. Also, CCI no longer looks hideously overbought and RSI16 is turning back up. Food for thought from another stooge out here in cyber space. Overhead resistance looks to be near 7.70-7.80 but above that…? BTW – great show…
Don’t worry, I can drop the space rocket off by your house whenever you need it.
ju got a belly like a bag full of bird seed.
I sold fitty percent position at close today. It cost my friend Angel his life.