Thanks to Amazon.com, Inc. [[AMZN]] my week is off to a great start. I got in about the same time Alpha did, and would like to thank him for highlighting the trade over the weekend.
If you look at two of the charts I posted last night, you can clearly see how well charts work.
AMZN – BTFO of a huge triangle pattern
GEOI – bounced perfectly off the 200 MA
Charts win again.
Top Pick: Research In Motion Limited (USA) [[RIMM]]
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Cajun,
Thanks, but just returning the favor. You’ve been doing a great job.
RC and Alpha…
Great call on AMZN…
Any thoughts on ONNN? Chart looks nice and looks like it may break out over 10.50…
dumped my AMZN sept 85 calls last week @2.22
ONNN is good, it’s a Danny favorite.
Watch RIMM here.
Semis, as a group, are oversold, but are starting to show signs of life.
That said, gamblers should look to be buyers of ONNN on a breakout above 11. This is still pretty speculative, so be ready for a reversal at this stage.
I prefer to wait for a show of strength from the group, relative to the market, before looking at individual names. We’re not there yet with the semis. Jmho.
Retail (JCG and GPS) are ripping here
Boca, JCG is the laggard today in retail …. compared to M, DDS, KSS, GES, TRLG, ANF and GPS.
oh ok, thank you Employee8. I was only mentioning the ones I happened to be watching/buying.
Thanks RC & Alpha…
Looking at CRY here. 14 seems to be pretty strong resistance.