The Daily Breakdown: The Brazilian Honey Hole
Wednesday, January 30, 2008 at 11:06 pm
Well I was going to post some celabratory stuff for the Platinum Party, but then, the party was over at like 7:00 p.m. Eastern time.ﾃつ WTF? I had just gotten dressed for it, too. Also, I was going to post some videos and stuff, but it seems both Fly and Jeremy are too busy to answer a fucking email. So, allﾃつyou getﾃつis this mediocre post with a catchy title.
Seriously, I think tomorrow could beﾃつa nice day for the bears. However, I will stand by my plan to wait to see how the Employment Situation turns outﾃつFriday beforeﾃつmaking a bunch of new trades.
My top pick for those who want to initiate a trade tomorrow is (EWZ: 72.581 -1.34%). I may hit it on the open. It is an even better setup nowﾃつthan the first time I posted it.
Textbook ’shooting star’ today. Lower we go tomorrow!
Check out SKF for a textbook example of the opposite.
DPeezy,
Interested in why you think it is going to be a shooting star today?
Fyi, Also the Brazilian market is closed on monday and tuesday.
When I wrote today it was still ‘yesterday’, as in Wednesday, which is what day it was here on the West Coast.
Also I think I should’ve said ‘gravestone’ instead of shooting star - bearish reversal candlestick at the end of an uptrend (albeit just a small/short uptrend in this case). The shooting star technically requires a long white one the day before, while we instead had more of a doji-looking one.
Just hit EWZ, easypeezy. Short at 74.55.
I’m not sure if I like a short here on EWZ. EWZ moves with PBR, one of its largest holdings. PBR is looking quite strong. It recently overtook its 20 day and has been bouncing off it ever since. Today has the added resistance of the 20&50 day SMA meeting in the high 105s. PBR bounced off of that value quite easily. It has been rising on high volume and selling off on low. I think PBR is setting up for a bullish head and shoulders pattern.
NA A A A A, NA A A A A! Stop it Fly, you’re killing me! HAHAHAHA!! RIMM, now there’s an original thought. Breeheehee!! Lemmings of the world unite!!
Stayed out of both EWZ and SKF today, thankfully, I might add…neither of them was at support/resistance, which is where I like to buy.
(I almost pulled the trigger on SKF @ 100…almost! What a shitty day for owning puts in financials. Maybe tomorrow…)
BM: wrong thread, dumbass.
Shed - two of your recommended shorts fm a couple days ago, just missed est & are down nicely
SXE
ABAX
Covered EWZ… at $76…ouchie.
Juice, I covered SXE before the close today, as I didn’t want to chance some kinds ER shenanigans. Still made money on it, but obviously not as much as I would have been holding through earnings.
Thanks Woody. You have class, my friend.