tag:blogger.com,1999:blog-155820982011-11-27T18:31:36.170-05:00Using Technical Analysis to make money in the stock market.downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comBlogger10211100tag:blogger.com,1999:blog-15582098.post-19497708997498711082011-02-09T23:21:00.003-05:002011-02-09T23:27:14.746-05:00

Thank you for visiting. My Blog has moved to downtowntrader.com and is now a part of the Stocktwits Network. We have moved all of our content into the archives at the new site but I am leaving this site up due to the many sub pages still indexed by search engines. Thanks again for reading and I look forward to many more years of market commentary and trader education articles.Sincerely,JoeyFollow

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-37427931042746290352011-01-02T22:06:00.004-05:002011-01-02T23:14:28.522-05:00

While I am firmly in the camp that believes we have set a very important generational low, I have to say the market is starting to get ripe for a swift correction as it approaches some key resistance levels. Recently, I've noticed the level of bullishness on the stocktwits stream increasing and many sentiment indicators are revealing a similar pattern. While the current market still has some room

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-90248059029042912352010-12-03T00:19:00.006-05:002010-12-03T00:38:14.128-05:00

The markets have ripped higher the past two days and it has become increasingly more difficult to find stocks at decent buy points. Traders should always be leery of buying over extended stocks as an simple retracement could put them into a position of weakness. The last thing a trader wants is to buy a stock near a high, and then be forced to sell as the stock retraces in a normal manner.

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-23234437832335649252010-11-21T15:36:00.011-05:002010-11-21T18:07:47.297-05:00

The Stocktwits team introduced the "Stocktwits 50" a few months ago which is a weekly list representing the stocks with the strongest fundamental and technical characteristics. While their methodology is proprietary, they focus on earnings growth, relative strength, and other technical ratings designed to filter the strongest stocks. Because the list is rebalanced weekly, they consistently have

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-81857342740623505202010-10-24T22:10:00.005-04:002010-10-25T00:10:01.162-04:00

I have been a big fan of SMB Capital and Mike Bellafiore for several years after watching them on Wall Street Warriors and then following their trading blog, twitter account, and ultimately their shows on Stocktwits TV. I have always admired how well they are run as a prop firm and the dedication they show towards enabling the success of their traders versus the approach of other firms who are

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-87016403911867191972010-10-17T00:02:00.003-04:002010-10-17T19:52:27.292-04:00

Get ready for the Second Annual Stocktwits Community Members Charity Poker Tournament benefiting the Tuberous Sclerosis Alliance. The Tuberous Sclerosis Alliance is an organization dedicated to finding a cure for tuberous sclerosis while improving the lives of those affected. Tuberous sclerosis complex (TSC) is a genetic disorder that causes tumors to form in many different organs, primarily in

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-86802425623448556642010-09-29T22:25:00.003-04:002010-09-29T23:11:22.963-04:00

As many of you who read my posts regularly know, I love trading narrow range setups. The primary reason for this is that I can greatly reduce my risk by stopping out as close to my entry as possible. This allows me to increase my risk versus reward as a multiple. In other words, if you are trying to limit yourself to trading opportunities with a minimum of 3:1 risk versus reward, it is much

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-31322100110492474532010-09-15T22:13:00.003-04:002010-09-15T23:20:26.148-04:00

As I was watching Rafael Nadal put away Novak Djokovich this Monday night to win his first US Open, I couldn't help but compare the qualities he has leveraged in improving his game to that of an aspiring trader. Nadal has literally willed himself into becoming the best tennis player in the world, amazingly enough, at a time when the best player possibly in history (Federer) is still in his prime.

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-57367168545310008132010-09-13T00:18:00.008-04:002010-09-13T01:02:42.294-04:00

I've written a few times over the past few months about how the REIT sector has continued to defy the bears by outperforming the general markets. As I was reviewing one of my bullish scans tonight I noticed these stocks continue to litter the top of this list. Despite the markets approaching some stiff resistance pretty soon, I continue to keep an open mind on stocks following through to the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-73785707402513656482010-09-02T01:17:00.004-04:002010-09-02T09:13:12.026-04:00

The following is a guest post from Vincenzo Desroches. Vincenzo started a financial and forex trading site after years of self taught investment and has had an interest in economics virtually his entire life.Stock Market speculation has produced thousands of millionaires in the 20th century. The historically unprecedented rise in the United States economy and equity markets during the last half

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-63260863476669738632010-08-25T23:36:00.004-04:002010-08-26T00:05:15.514-04:00

I am going to preface this article by stating I don't think the markets are healthy right now. While I remain unconvinced that the markets are headed appreciably lower, I do think at best it will still take some time to absorb the recent distribution. Worst case, is that this is only the beginning of a larger decline but it is still much too early to make any assumptions. With that in mind I

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-67633498532872070792010-08-08T23:58:00.006-04:002010-08-09T00:43:52.542-04:00

As I was running through charts this evening, I noticed that McDonald's Corporation (Public, NYSE:MCD) was trading very close to all time highs, which was impressive considering how weak the markets have been over the past few months. There is no sign of strength more certain than a stock trading at its highest point. Stocks trading at an all time high have no clear resistance overhead, as any

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-86467687328572063632010-07-22T22:53:00.004-04:002010-07-22T23:31:37.953-04:00

I mentioned last week how I had been stalking a couple of stocks on the long side despite the market outlook looking bleak. I've always maintained that its good to be prepared for any move, and thus I wanted to have a few stocks that were showing relative strength just in case the markets surprised with a rally. While the markets are certainly not out of the woods, the S&P500 was able to close

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-70918975580459327682010-07-16T00:12:00.003-04:002010-07-16T00:41:49.851-04:00

I've been patiently waiting for the general markets to stabilize and have been very carefully picking my spots over the past several weeks. Despite the fact that I have been trading less frequently, I do continue to add potential longs to my watchlist. The general indexes are at an interesting spot here as the S&P500 pauses near its declining 50-day moving average. I can see multiple scenarios

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-1424838304336731532010-07-07T23:17:00.005-04:002010-07-07T23:50:33.601-04:00

In reviewing some screens tonight, I ran across three stocks that had pretty decent looking charts, yet were unfamiliar to me. While I recognize the tickers for a couple of these, I can't remember ever trading these or even adding them to my watchlist. Sometimes these unknown stocks can move well if you catch an institution sneaking in, but they also come with their caveats. Each of these are

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-55137539031531343422010-07-07T00:58:00.003-04:002010-07-07T01:29:56.660-04:00

The past few weeks have been one of my least active string of weeks as far as swing trading goes in the past year to year and a half. While the markets have presented ample day trading opportunities, I've found that I've only found a few 1-3 day windows in the past 2 months worth attacking. I'm sure long time followers on my twitter account have noticed my decreased updates, and this is directly

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-10397533199395262902010-06-17T21:40:00.003-04:002010-06-17T22:22:34.120-04:00

I recorded a video for Stocktwits TV's "Talk your Book" show this week and the stock I chose was Silvercorp Metals Inc. (USA) (Public, NYSE:SVM). I mentioned on the show how I've been bullish on Gold, and Gold did in fact run to new all time highs today. While I've been bullish on gold, and own a gold miner, I also think Silver should begin playing catchup. The gold/silver ratio is still

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-56564653225133810712010-06-10T23:01:00.007-04:002010-06-10T23:41:12.952-04:00

The current market has been punishing the vast majority of stocks as it corrects a rally that stretched over a year in length. Corrections are healthy for the markets and there is no denying that they were getting ahead of themselves a few weeks ago. While the chance for a much longer and deeper correction exists, there is no evidence yet that this is nothing more than a typical run of the mill

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-70741408992667325122010-05-31T23:29:00.003-04:002010-06-01T00:19:55.753-04:00

I received an email from a reader asking for advice on a position that got away from him and he was commenting on how overall, he was trading very well, but this one stock set him back several weeks. One of the first thoughts that came to my mind is how important it is to be consistent as a trader. All it takes is one blow up to damage a trading account, reverse several good trades, or even ruin

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-24843309809312668142010-05-19T23:39:00.004-04:002010-05-20T00:06:05.684-04:00

While I'm not convinced the markets have bottomed, the conditions are starting to become ripe for some short squeezes. Sometimes a short squeeze only lasts for an intraday spurt and other times it can last a few days. Although I don't often day trade, I will be more than happy to exit intraday if I can catch a quick move.One group that may be setting up for a short squeeze opportunity is the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-19438953849041267402010-05-14T00:11:00.004-04:002010-05-14T00:40:13.376-04:00

The fertilizer stocks have really been weak over the past two months. Monsanto Company (Public, NYSE:MON) has just been am absolute train wreck and The Mosaic Company (Public, NYSE:MOS) has also been pretty sorry. One stock I have been watching for a breakdown in sympathy is Potash Corp./Saskatchewan (USA) (Public, NYSE:POT). I have been short this stock a few times over the past couple of weeks

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-22905559504288960002010-05-06T23:03:00.003-04:002010-05-07T00:40:10.260-04:00

I was having a conversation recently with a friend about how the markets were normalizing after two years of abnormal price movement. If you really think back, the past two years have seen a stock market decline of historic proportions, and a relentless, although quite measured rally back to correct a portion of the decline. Some indicators like t2108 (stocks trading above their 40-day moving

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-5345594721463417712010-04-29T01:15:00.006-04:002010-04-29T01:54:33.141-04:00

HP buying Palm is a big win..... for consumers. If Hewlett-Packard Company(Public, NYSE:HPQ) is serious about integrating Palm's Web OS into all sorts of devices then this could really throw a monkey wrench in Apple and Google's dominance in this area. I am leaving Blackberry out of this because I think this deal has nothing to do with the cell phones. HP bought a great OS and as a consumer I can

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-45654867506627456992010-04-22T00:28:00.003-04:002010-04-22T00:52:19.765-04:00

While I was writing my column for Investopedia this week on Credit Service companies, I kept looking back at Dollar Financial Corp. (Public, NASDAQ:DLLR). DLLR is an international financial services company serving banked and unbanked consumers. The Company provides a range of consumer financial products and services consisting of check cashing, single-payment consumer loans, longer-term

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-16353217108835110582010-04-15T22:53:00.003-04:002010-04-15T23:28:29.426-04:00

I recorded another video for the Stocktwits Talk Your Book show last night. Although I typically choose stocks that are still at decent entry points, I chose Nu Skin Enterprises, Inc. (Public, NYSE:NUS) because although it had a sharp move already, it looks like it could just be the beginning of a larger trend move higher. I also chose it because it is following a pattern I am seeing quite

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-11508992607999322092010-04-13T00:49:00.002-04:002010-04-13T01:09:05.326-04:00

I mentioned in my market review article how I feel the markets are starting to show some signs of slowing down, so I took advantage of some strength today to lighten up on some of my positions. While I still believe the markets may be headed higher, I would not be surprised with some weakness leading into options expiration later this week. While I sold some stocks into strength, one I decided to

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-73197855447621652022010-04-08T20:50:00.004-04:002010-04-08T21:56:17.965-04:00

I submitted a video for Talk Your Book last night, but unfortunately it was a little too long for them to accept. In the video I discuss a trade I am in as well as a detailed look into the price action over the past several months. One of the reasons I posted this choice was that it is still offering a possible opportunity for traders rather than posting a trade that was well into its move and

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-64645333896408342782010-04-04T22:44:00.004-04:002010-04-05T00:10:21.196-04:00

Futures are higher as I write this Sunday night and one group that looks poised to move higher if the markets continue to trek higher is the Commercial Real Estate stocks. The sector as represented by the iShares Dow Jones US Real Estate (ETF) (Public, NYSE:IYR) has been showing good strength over the past month rising steadily from the low $40's to the low $50's. It cleared its base in early

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-30177642102706233292010-04-01T00:42:00.007-04:002010-04-01T01:02:44.439-04:00

I wrote about a theme I am seeing play out Tuesday night for Chartadvisor.com. Basically, I have seen a small rotation out of small caps into large caps. If this continues it could signal a subtle shift in investor sentiment towards safety. Following the excerpt below I posted expanded charts of the stocks highlighted in the article.Small caps have been outperforming their large cap peers

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-11869020567422946082010-03-21T22:59:00.002-04:002010-03-21T23:28:22.096-04:00

Even though futures are down as I write this, and the markets looking like they are ready to take a breather, I continue to build my watch list with stocks that are strong and look poised to move higher. The markets remain in good shape from a technical standpoint and many stocks continue to look pretty solid.NetScout Systems, Inc. (Public, NASDAQ:NTCT) is a pretty good example of the types of

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-21826053311745403712010-03-18T00:02:00.003-04:002010-03-18T01:05:38.915-04:00

I recently had a discussion with another trader (@stockguy22) about how traders migrate to a specific type of trading based on their prior career or personality traits and how traders should be aware of how these influences impact their trading. There are a million ways to make money in the markets, and the most successful traders have all figured out how to adapt to a methodology that allows

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-23705581910841178662010-03-11T23:46:00.003-05:002010-03-12T00:19:02.913-05:00

I like to consider myself pretty flexible when it comes to trading. I am comfortable going long or short as the market dictates, and have been successful on both sides. However, over the past year, I have noticed that shorting as a SWING trade has been extremely difficult. Of course, the markets have been in a spectacular rally in which I have consistently participated in, but even when the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-75928239805229196862010-03-11T00:27:00.002-05:002010-03-11T00:51:04.897-05:00

Telestone Technologies Corporation (Public, NASDAQ:TSTC) has been an incredible performer over the past year, rallying from under $1.00 a share to almost $25 in a steady climb. It finally succumbed to some selling pressure in January and began to correct the large rally. It has been consolidating since then and is starting to form a triangle. Price action is starting to coil tightly, hinting at a

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-37826765560571730492010-03-07T18:18:00.004-05:002010-03-07T18:39:42.781-05:00

It looks like Rambus, Inc.(NasdaqGS: RMBS) might be close to squeezing some shorts based on the recent price action. With over 11% of the float being short, and a history of quick powerful moves, this is a situation that bears watching. Overall, RMBS cleared a 6 month long base in December, and has been trading in a wide range since then. It seems every time RMBS manages to rally into the $25.50-

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-69004138784660462962010-03-04T00:46:00.004-05:002010-03-04T01:14:21.860-05:00

I wrote an article on Wednesday night for Investopedia on Gold Miners and how they are at a critical juncture right now. In the article, I highlighted a few stocks to watch, but found another one today that I hadn't traded before. It looks pretty decent on the daily chart and has had good relative strength when compared to the other miners. Before revealing the chart, here is the introduction to

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-92175718971046567642010-02-25T23:39:00.004-05:002010-02-25T23:56:28.566-05:00

Stock Chart Analysis ILMNIllumina, Inc. (Public, NASDAQ:ILMN)I've been watching ILMN for a few weeks after it had a huge move late in 2009 and into early this year. ILMN was able to rally from the mid $20's to the $40's in less than a month. Interestingly, the rally halted immediately as it almost filled a bearish gap from late October. While it was disappointing that ILMN couldn't follow through

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-45209690438104298402010-02-24T23:36:00.003-05:002010-02-24T23:56:31.515-05:00

Stock Chart Analysis ZIONZions Bancorporation (Public, NASDAQ:ZION)I've mentioned before how ZION was one of my go to stocks on the short side during the financial crisis. For whatever reason I had a good feel for it and it was more volatile than some of the other bank stocks. Over the past year though, ZION has been gradually transitioning the way it behaves as a stock. While ZION is certainly

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-91873085059645013732010-02-21T22:08:00.006-05:002010-02-21T23:38:12.739-05:00

Part of my weekly trading preparation involves reviewing where the indexes are in relation to nearby support and resistance levels, and forming at least an initial bias for the beginning of the trading week. Traders should always plan for multiple scenarios, as the worst thing you can do is try to scramble and chase a trading opportunity in the heat of battle.The markets have staged a decent

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-70994319460594625182010-02-18T00:09:00.008-05:002010-02-21T23:37:35.857-05:00

I am posting four charts below of stocks that have withstood the recent correction with little technical damage. None of these stocks dropped below their 50-day moving averages and are worth watching if the markets continue to firm up. I wrote about these stocks last night in an article for Investopedia, but due to space constraints I couldn't post the larger charts I have here. Here is the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-89523778969100070172010-02-11T21:58:00.005-05:002010-02-12T08:53:19.641-05:00

I'm loving the "Talk Your Book" show on Stocktwits TV for so many reasons. While obviously many people shares their trades on the Stocktwits stream, its very difficult to go through your thought process in 140 characters. The stream also doesn't lend itself as well to swing trades because of the time difference between entry and exit. I think this show hits a sweet spot because it provides

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-65358958882733110642010-02-08T23:22:00.007-05:002010-02-09T09:42:47.235-05:00

Stock Chart Analysis DESTDestination Maternity Corporation (Public, NASDAQ:DEST)As I scanned the markets tonight for possible setups that could be developing over the next day or two, I ran into a very large percentage of charts that looked bearish. With the late day reversal on Monday, many stocks finished near their recent lows and are threatening to slide past very important levels. Although

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-25823998231016065092010-02-04T00:57:00.006-05:002010-02-04T01:28:30.174-05:00

Here is an intro to an article I wrote on the Book Publishers group last night. I wanted to follow up with a closer look at some charts of McGraw-Hill Companies (NYSE:MHP). I can't post the whole article here, but click through the link if you want to read the rest, and come back to look at the follow up charts below.Recently, there has been a lot of focus on the eBook industry after Apple, Inc.(

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-81155492760876161742010-01-31T23:08:00.003-05:002010-01-31T23:46:00.430-05:00

Stock Chart Analysis SPGSimon Property Group, Inc (Public, NYSE:SPG)I've been bullish the REIT space for a while, and they have managed to hold up fairly well even as the markets have started to really fall apart. Just two weeks ago, it looked like many REIT's were ready to bounce after finding support at their 20 day moving averages, but they weren't able to fight the markets weakness, and

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-28948417973557968162010-01-28T23:06:00.004-05:002010-01-28T23:17:16.582-05:00

I recently had a follow up interview with Tim Bourquin of TraderInterviews.com. We discussed my trading style, how I use indicators, risk management, and how I look for stocks each night. It's free for a limited time so if you have a chance check it out:Trader Profile: Joey Fundora aka "DowntownTrader"If anyone has comments or questions on the interview, feel free to leave me your thoughts in the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-69386830728114902442010-01-26T15:55:00.005-05:002010-01-26T23:45:22.959-05:00

Everyone once in a while I like to post some random thoughts on the markets. I think this type of post helps me by forcing me to corral some disconnected rambling thoughts into more coherent thoughts with a specific purpose.I was bullish on financial's until proven otherwise, and it looks like I was proven otherwise. It sure looks like a bulltrap was set into motion on XLF and financial's like GS

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-29177303831146714062010-01-19T23:21:00.005-05:002010-01-19T23:45:36.042-05:00

I wrote on the home builder stocks earlier this year as a group that was looking strong despite the very negative sentiment still surrounding the group. Fundamental data is still weak at best, and Banks are still very leery of taking on more loans. Despite all the negativity though, the group remains in a favorable position. Tonight I am following up on that article and taking a look at some

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-63111631327974349022010-01-14T16:03:00.006-05:002010-01-14T23:39:40.582-05:00

I was interviewed by Matt Davio last fall, but due to a huge backlog in his Interview series, it was only recently published. If you're interested in learning more about how I trade and how I got into to trading check it out.Joey Fundora @downtowntrader Interview with MissTrade from miss trade on Vimeo.Enjoy,Joey

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-75876292901944709742010-01-11T23:39:00.003-05:002010-01-12T00:45:42.518-05:00

The similarities between poker and trading is something that has been mentioned countless time and with valid reason. Both are essentially an effort in speculation where risk management and taking advantage of an edge will have a long term positive expectancy. Sounds complicated, but basically pro's will trade or play poker ONLY because they have a statistical edge in the long run. However, there

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-24631948052268267512010-01-08T00:42:00.003-05:002010-01-08T01:13:29.996-05:00

Stock Chart Analysis XHBSPDR S&P Homebuilders (ETF) (Public, NYSE:XHB)In a move that might be quite surprising to many, the Home Builders appear to have formed a solid bottom on the long term charts, and are starting to move higher. I wrote an article over the weekend highlighting XHB and some individual stocks in the group that were poised to move higher and in that article, I showed a daily

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-72030732748186677572010-01-07T00:43:00.003-05:002010-01-07T00:51:29.212-05:00

Here is an excerpt of an article I wrote for tonight's Chart Advisor Newsletter."Financial stocks have been consolidating for approximately five months following a sharp rally in the first half of 2009. Recently, volatility in the financial sector has been dying down as money and interest rotate to other sectors such as commodities. However, 2010 has started off with a bang, and the financial

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-10363053420467467932009-12-30T00:19:00.004-05:002009-12-30T00:44:01.004-05:00

Stock Chart Analysis TJXThe TJX Companies, Inc. (Public, NYSE:TJX)While I am not necessarily bearish, the stock market continues to get extended on the upside and could be close to taking a breather. I've always maintained both a short and long watchlist so that I am not caught off guard by a down move in the markets. In the case the markets do weaken soon, I prefer to look for charts that are

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-88588996861517583072009-12-27T22:59:00.003-05:002009-12-27T23:22:09.360-05:00

Stock Chart Analysis SNDAShanda Interactive Entertainment Ltd ADR (Public, NASDAQ:SNDA)As a trader it's important to keep an eye on the longer term charts in order to gain perspective on the underlying trend. Signals on longer term charts hold more weight than shorter term signals as time filters out some of the noise prevalent on shorter term charts. In looking at SNDA the other night, I noticed

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-61836076053518966392009-12-17T00:43:00.005-05:002009-12-17T00:51:06.149-05:00

One of the most talked about financial stories this year was the continued decline in the US Dollar. With the government reducing interest rates to zero in an effort to combat a possible depression, the dollar has endured one of the longest declines in its history. The decline in the dollar has helped push Gold to all time highs, and has forced investors to search for asset classes with a higher

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-31779274568433190762009-12-10T00:15:00.002-05:002009-12-10T00:25:49.283-05:00

Stock Chart Analysis CALMCal-Maine Foods, Inc. (Public, NASDAQ:CALM) CALM is one of the stocks on my watch list tomorrow primarily because it looks like it is attempting to clear a small lateral range it has established over the past few weeks. This small range is part of a larger overall base between $25 and $30 a share. The $30 level is also critical resistance on the longer term weekly charts.

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-55792768205665335782009-12-03T23:59:00.002-05:002009-12-04T00:13:40.325-05:00

While I was cautiously optimistic on some oil stocks recently, many are starting to look vulnerable right here. The Oil Service HOLDRs (ETF) (Public, NYSE:OIH) which is a good proxy for Oil Service stocks is close to setting a lower low, which could lead to some near term weakness in the group. While there is some decent support underneath, some individual names are looking more vulnerable.One

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-4066008480260471562009-11-30T21:56:00.003-05:002009-11-30T22:44:52.993-05:00

Stock Chart Analysis Dow Jones Transports AverageDOW JONES TRANS AVERAGE (AMEXindex:DMT.X)While all the recent attention has been on the dollar, financials, commodity stocks and metals, the transports have quietly put themselves in a very interesting position based on the daily chart. In looking at the Dow Jones Transports Average, you can see that the index remains in a trading channel that has

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-8454402471601714442009-11-18T11:40:00.004-05:002009-11-18T11:49:26.962-05:00

Stock Chart Analysis FMXFomento Economico Mexicano SAB (ADR) (Public, NYSE:FMX)I’ve been calling FMX the most interesting stock in the world, mostly as a reference to the commercials for Dos Equis lager which is produced by the company. However, it seems that recently the stock has become interesting on its own merits with buy out speculation running rampant, namely from Heineken. As such FMX had

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-32063892466321100172009-11-09T23:25:00.004-05:002009-11-09T23:56:29.627-05:00

Stock Chart Analysis STPSuntech Power Holdings Co., Ltd. (ADR) (Public, NYSE:STP)STP looks like it is getting ready for a sharp move, and while it is currently in a bearish setup, traders should be on guard for a move in either direction. STP had been trading in a large base since early May, when it peaked after a tremendous rally off the March lows. STP had been oscillating between roughly $13-

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-23938396551738808642009-11-03T22:25:00.002-05:002009-11-03T22:52:05.176-05:00

Stock Chart Analysis HLHecla Mining Company (Public, NYSE:HL)I wrote an article last week for Investopedia mentioning that there might of been a buying opportunity present in Silver and in it I mentioned Hecla Mining Company (NYSE:HL) as a silver miner to watch, as it was close to testing an important support level. The support level mentioned was the $4 level, which was a prior high back in June

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-88252473435041190712009-10-26T13:33:00.009-04:002009-10-26T21:24:19.136-04:00

I would like to thank everyone that participated in helping us raise money for the TS Alliance through our first ever Stocktwits Charity Poker Tournament last evening. The tournament was a blast, as 38 Stocktweeps gunned for each others chips online. There was some drama with top bounty man Howard Lindzon initially zooming to the top of the leaderboards, and Brian Shannon almost busting out in

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-69790684766511835172009-10-16T15:20:00.012-04:002009-10-18T20:52:44.502-04:00

I continue to be amazed by the generosity shown by the members of the Stocktwits community. I originally expected a few signups to the tournament and to maybe raise a halfway decent amount for the TS Alliance. Completely unexpected by me was the unsolicited generosity from people like @johnwelshphd and John Lee (@weeklyTA) who have made donations directly to the charity. Also, Phil Pearlman has

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-11962146374065290292009-10-15T22:50:00.003-04:002009-10-15T23:19:10.844-04:00

Stock Chart Analysis MCOMoody's Corporation (Public, NYSE:MCO)There is an interesting pattern developing in MCO and the resolution could lead to a big move. MCO broke down from a consolidation in September on a large increase in volume. This move came after several months of drifting lower, as it corrected a sharp move higher from March through May. On a weekly chart, MCO still looks like death,

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-79387353754248289242009-10-13T15:00:00.002-04:002009-10-13T21:54:50.364-04:00

First off, I would like to personally thank @johwelshphd for offering a huge reward for anyone knocking out Howard Lindzon from the Stocktwits Charity Poker event. He has pledged $200 to any of his followers that knocks out Howard, plus an additional $200 directly to the charity. This is a total contribution of $400 and frankly, surprised the hell out of me. I am extremely appreciative of his

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-36834917926618423082009-10-09T16:51:00.002-04:002009-10-09T17:01:12.196-04:00

I've been working on organizing an online Poker tournament for charity for the past few months. I reached out to the folks at Stocktwits.com and they were more than happy to help a lending hand, for which I am very appreciative. I decided to organize this event to help a friend of mine who has a child with Tuberous Sclerosis and raise money for the TS Alliance. Tuberous sclerosis complex (TSC) is

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-77765731649538780272009-10-08T23:18:00.002-04:002009-10-08T23:41:49.988-04:00

Stock Chart Analysis GLDSPDR Gold Trust (ETF) (Public, NYSE:GLD)I posted this chart on Chart.ly the other night and mentioned it had the sausage link pattern setting up. This is a simple reference to how the bollinger bands resemble sausage links when a stock is trending strongly. Basically the bands expand as the stock rallies and contract as it consolidates. Often, the bollinger bands looks

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-30584019096503092842009-10-02T15:50:00.002-04:002009-10-02T16:01:41.240-04:00

excerpt of an article I wrote for chartadvisor.comBack in June, we took a look at stocks that trade in the education sector. At the time, we noted how the group had managed to avert a breakdown and appeared to be on the rebound. The group had been in a correction for several months, and had continued to weaken even as the markets bottomed during the spring. But after a brief move lower, education

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-82225805174984667672009-09-30T19:10:00.002-04:002009-09-30T19:16:48.565-04:00

Back in May, we discussed possible accumulation in the coal sector based on solid price action that was occurring in some of the stocks. Many of these stocks were clearing bases on good volume, and were in the process of consolidating the initial breakout by trading in bull flags. In general, this group did indeed move higher following their May breakouts, and ended up building new bases in the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-54084182282846088902009-09-28T23:10:00.002-04:002009-09-28T23:36:43.173-04:00

Stock Chart Analysis PALMPalm, Inc. (Public, NASDAQ:PALM)I'll have to admit, I am a little surprised by the recent strength in PALM. It looked like the stock was getting tired back in June after the exhaustion gap on huge volume, and for the most part it was. PALM proceeded to pullback to its 50-day moving average in July, and then lost that level as support a few weeks later. It really looked

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-27599930296998046762009-09-27T13:19:00.001-04:002009-09-27T13:21:02.515-04:00

The general markets made their second trip down to test their rising 20-day moving averages in less than a month, even after tagging new recovery highs earlier this week. The Federal Reserve issued their policy statement on Wednesday afternoon, as is common; there was plenty of volatility surrounding the announcement that afternoon and through the end of the week. While the markets continue to

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-40520663129836895882009-09-21T23:11:00.004-04:002009-09-21T23:40:53.583-04:00

Stock Chart Analysis ZIONZions Bancorporation (Public, NASDAQ:ZION)ZION has been one of the most reliable stocks for me on the short side over the past year. It seems every time there is market weakness, ZION has been there for me as a financial stock that would drop quicker and further than many of its peers.However, something changed over the past few months. ZION started failing as a short. In

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-88821675072010985872009-09-14T22:03:00.003-04:002009-09-14T23:03:28.252-04:00

Stock Chart Analysis XTEXCrosstex Energy, L.P. (Public, NASDAQ:XTEX)Natural gas has been a popular trade this year, particularly by long traders attempting to pick a bottom in the commodity. Despite several attempts at a rally from new lows, the commodity as tracked by the United States Natural Gas Fund, LP (Public, NYSE:UNG) ETF has been in a death spiral for over a year. While UNG has some

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-46108005750583943742009-09-13T17:17:00.002-04:002009-09-13T17:37:02.638-04:00

Stock Chart Analysis ABKAmbac Financial Group, Inc. (Public, NYSE:ABK)There is an interesting pattern developing in ABK. While I won't speculate as to the fundamental picture for this fallen company, the chart in ABK is following a similar pattern to other "broken financials" such as Citigroup Inc. (Public, NYSE:C), Fannie Mae (Public, NYSE:FNM) and Freddie Mac (Public, NYSE:FRE). Each of these

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-38101369318819680262009-09-11T00:08:00.002-04:002009-09-11T00:30:04.907-04:00

Stock Chart Analysis CCitigroup Inc. (Public, NYSE:C)I've been long a few calls in Citigroup from it's initial breakout, but I may be adding to the position here soon. C has been developing nicely, and in the chart below I highlight what it is I am looking at and why I like it. C cleared a multi month base in late August and has been consolidating above the breakout area for a couple weeks now.

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-87782552298464378012009-09-06T22:01:00.004-04:002009-09-06T22:31:55.991-04:00

Stock Chart Analysis RIMMResearch In Motion Limited (USA) (Public, NASDAQ:RIMM)There is a pretty interesting chart setup developing in RIMM. RIMM has been flying a little under the radar recently with all the recent focus on Gold Miners, Financial Stocks, and even American International Group, Inc. (NYSE:AIG). Even in the mobile phone space, its all about the Apple, Inc. (Nasdaq:AAPL) I-Phone or

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-31377504601178391432009-09-03T23:49:00.004-04:002009-09-04T00:40:52.227-04:00

Stock Chart Analysis GLDSPDR Gold Trust (ETF) (Public, NYSE:GLD) Really nice follow through by the metals complex today after a strong move yesterday. Volume has been rising on move higher, and everyone is wondering if this is "THE" gold breakout that they have been waiting for. The one thing that has stood out to me recently is how Gold and Silver are holding up even on days where the dollar is

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-41710825577175597262009-08-25T22:01:00.003-04:002009-08-25T22:36:21.668-04:00

Stock Chart Analysis STARStarent Networks Corp. (Public, NASDAQ:STAR)I mentioned a few times on twitter over the past couple of weeks how STAR was looking bearish to me. Nothing has occurred on the chart to sway my initial thoughts, and in fact, I initiated a short position in STAR last week, when it appeared to turn down after testing its declining 20-day moving average. While the vast majority

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-42174719551910307572009-08-20T01:07:00.003-04:002009-08-20T01:22:57.886-04:00

Stock Chart Analysis DVDeVry Inc. (Public, NYSE:DV)I've mentioned a few times recently on twitter, that education stocks have been quietly improving. DV, is a perfect example of an education stock that has been improving, after threatening to breakdown from a multi-year base in May. It grinded out a bottoming pattern from March through early August that could be classified as a reverse head and

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-69297111087641041832009-08-14T17:36:00.003-04:002009-08-14T17:47:37.462-04:00

Stock Chart Analysis SNDAShanda Interactive Entertainment Ltd ADR (Public, NASDAQ:SNDA)The general markets continue to hold up, and have been basically trading sideways for the past two weeks. While overall this is probably more bullish than not, I continue to look for some bearish charts in order to remain flexible and even a little hedged. SNDA is one chart that looks pretty bearish to me, with

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-961470046418752242009-08-10T23:13:00.004-04:002009-08-11T14:05:37.511-04:00

Stock Chart Analysis OIHOil Service HOLDRs (ETF) (Public, NYSE:OIH)Typically oil and commodity type stocks are late cycle plays, and being that we are either in the middle of a bear market, or optimistically in an early bull, I haven't been too excited about any sort of trending move in the group. While, there has been opportunities on smaller time frames, I have been ignoring the sector as a

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-6319545533547056342009-08-06T09:26:00.004-04:002009-08-06T09:32:12.560-04:00

Here is an updated marketclub video in the spot gold market. Adam takes a look at where gold is and whether its ready to breakout or not. Not to spoil the video, but things are shaping up for a breakout as Gold continues to set higher lows on the daily chart and inches up towards resistance in the upper 900's. Click on the Link below to watch the free video.Enjoy,Joey

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-91257417671172892812009-08-05T19:00:00.002-04:002009-08-05T19:28:49.505-04:00

Stock Chart Analysis QSIIQuality Systems, Inc. (Public, NASDAQ:QSII)I don't post frequently on the longer term setups I am watching, as my main focus is on swing trading for a holding period of a few days. However, I always keep track of weekly charts to let me know from which side the wind is blowing. If I'm going to lean one way or the other, I prefer the longer term trade in my favor.When

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-11597866114915140952009-07-30T00:22:00.002-04:002009-07-30T00:31:50.103-04:00

Taking profits is one of the hardest things for a trader to learn once they get past the basics. There are a myriad of strategies a trader can employ, each with their pros and cons. I've mentioned how I use a volatility based exit strategy called the Chandelier Stop a few times on this blog and twitter, and it is the subject of an article I wrote for SFO Magazine. It came out in this months issue

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-43193125252772986752009-07-27T23:25:00.002-04:002009-07-27T23:40:31.893-04:00

Stock Chart Analysis BKEThe Buckle, Inc. (Public, NYSE:BKE)While I've been bullish for the past several weeks, I always have a few short ideas in my watchlist in case I am wrong on my market analysis. I also like to have some short setups available in case the markets get overbought and begin to reverse. I don't want to bail out on positions that are behaving well, but I also don't have any

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-39130282319232888492009-07-25T15:04:00.002-04:002009-07-25T15:17:22.411-04:00

Stock Chart Analysis FEEDAgFeed Industries, Inc. (Public, NASDAQ:FEED)FEED has been on my radar since I traded it successfully back in April. I've been able to trade it a few times on the breakouts for quick gains. It looks like it is setting up for another potential move higher, and I will be looking to get long if it cooperates.FEED has been progressively trading higher, building lateral

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-26522852106882466772009-07-20T09:14:00.002-04:002009-07-20T09:21:15.490-04:00

Adam Hewison of Market Club recently created a video with an updated look at the spot gold market. The video highlight the recent consolidation level and some important levels to keep an eye on. He also mentions how gold is close to triggering a buy signal on the weekly chart according to their proprietary trade triangles indicator. The trade triangles indicator is actually a pretty good system

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-37334383978903012092009-07-15T00:09:00.006-04:002009-07-15T00:34:58.006-04:00

It looks like Semiconductors will be in play tomorrow following after a positive reaction to an Intel Corporation (Nasdaq:INTC) earnings report on Tuesday evening. INTC was trading over $18 in the after hours session which will take it over a recent base it was building. The group has actually one of the best performing sectors recently, and there are a lot of lesser known semi's that have

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-10625266609073977292009-07-11T23:05:00.002-04:002009-07-11T23:27:18.575-04:00

Stock Chart Analysis POTPotash Corp./Saskatchewan (USA)(Public, NYSE:POT)Potash really fell apart on Friday, after trying to hold above the May breakout area. POT, along with many fertilizer stocks were benefiting from the reflation trade that had been occurring over the past several weeks, but that theme came to a screeching halt recently, with most commodities getting hit hard.POT had built a

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-28937489427600107322009-07-09T10:13:00.005-04:002009-07-09T10:22:57.237-04:00

Adam Hewison just came out with an update on the oil markets and how a confluence of signals are projecting a pullback to the $59 area followed by likely support. The video is short and sweet, and as always, free to watch. Click on the image below to watch.Good Luck,Joey

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-90612772045711377752009-07-05T22:42:00.003-04:002009-07-05T23:35:13.697-04:00

Stock Chart Analysis GLFGulfMark Offshore, Inc.(Public, NYSE:GLF)Oil stocks got crushed Friday, with many oil service stocks dropping over 4%. With oil down over 3%, it looks like this group may be in for a rough start to the week as well.GLF is an interesting chart in this sector, because while it is down fairly sharply over the past few weeks, it is also very close to breaking a support level.

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-76371694863961368712009-06-29T09:23:00.002-04:002009-06-29T09:35:13.688-04:00

Stock Chart Analysis ZBRAZebra Technologies Corp.(Public, NASDAQ:ZBRA)I've been holding a small position in ZBRA for a few weeks now based on the breakout over a large base. Recently it has been consolidating tightly over the prior base, as volatility dies down. It has managed to hold tight, despite a few negative days in the market, and was one of the few stocks to remain over their 20-day

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-35952200567864101442009-06-28T21:25:00.003-04:002009-06-28T21:59:03.375-04:00

Stock Chart Analysis LNCLincoln National Corporation(Public, NYSE:LNC)There is an interesting trade setting up in Lincoln National Corporation (NYSE:LNC). LNC has been very strong the past few months, along with its peers in the Life Insurance sector. It rallied close to 300% from the March low to the recent high near $20. While the rally was large in terms of percentage gained, it really looks

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-21363287830909650352009-06-25T09:21:00.002-04:002009-06-25T09:36:26.524-04:00

Stock Chart Analysis AIPCAmerican Italian Pasta Company(Public, NASDAQ:AIPC)AIPC was one of the stronger stocks in the market over the past several months, rising almost 700% from March 2008 through April 2009. It has been rising steadily over this time, forming small lateral bases, with gaps above the bases following a few weeks later. Recently, it had been forming another lateral base, but

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-38691039200976007152009-06-23T15:37:00.002-04:002009-06-23T15:45:42.820-04:00

I was featured in an interview by Damien Hoffman of Wall Street Cheat Sheet on the Top 3 Mistakes new Traders should avoid, along with Joe Donahue of upsidetrader.com. You can check out the interview here. Any comments are welcome and appreciated.Good Trading,Joey

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-56845475961698739542009-06-23T00:15:00.002-04:002009-06-23T00:31:52.332-04:00

Stock Chart Analysis ULTAUlta Salon, Cosmetics & Fragrance, Inc.(Public, NASDAQ:ULTA)I mentioned on twitter today how I was noticing retailers at the high of day in spite of the market hitting new lows for the day. I also noticed this same behavior last week on a weak day. Usually when you see many stocks in a sector hitting highs together, it signals an institution or fund buying a basket in the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-8640419839384496062009-06-18T09:19:00.003-04:002009-06-18T09:36:47.358-04:00

Stock Chart Analysis MRXMedicis Pharmaceutical Corporation(Public, NYSE:MRX)MRX is posing an interesting setup here. It cleared a long base in May on a high volume gap. It has been trading sideways since the breakout, attempting to fill the gap on a few occasions. Every attempt to pullback into the gap and prior base has been met with sharp buying. Volume has been tapering off through the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-52036218772520762332009-06-16T14:56:00.002-04:002009-06-16T15:21:35.665-04:00

Adam Hewison posted an updated look at gold on the marketclub blog today. With the recent pullback off the highs, it's a good time to look at possible support levels, and what it would take to call a trend change in gold. While gold is still above solid support levels, their proprietary trading triangle have triggered a weekly sell signal. Click on the chart to be redirected to the gold

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-51080252997226764182009-06-11T23:58:00.006-04:002009-06-12T00:25:38.037-04:00

Stock Chart UNGUnited States Natural Gas Fund, LP(Public, NYSE:UNG)UNG has been the hottest ticket on stocktwits the past few days as volume has surged and it attempts to bottom out. While many traders are optimistic about UNG forming a bottom here, there isn't any evidence yet that says UNG is done going lower. The chart for UNG over the past year shows just about the steadiest downtrend you

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-64504314352699920812009-06-10T15:54:00.003-04:002009-06-10T16:10:08.074-04:00

Adam Hewison of INO Insider blog just posted a new video on how he uses their proprietary trading triangles to trade the CRB index and also how he uses the CRB to forecast inflationary and deflationary cycles.In the video he discusses how the index has been around since 1957 and has accurately forecasted every inflationary and deflationary cycle since.Here are some of his comments surrounding the

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-17804855043675806872009-06-07T23:00:00.004-04:002009-06-09T21:34:52.231-04:00

Stock Chart Analysis ESRXExpress Scripts, Inc.(Public, NASDAQ:ESRX)ESRX is one of the stocks on my watch list for the upcoming week as it is showing some bullish signs. The chart for ESRX is an interesting one, as it highlights what can happen when one side gets caught by surprise. In this case it looks like the bears were fooled by a breakdown from a base in March. The breakdown was steep and

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.comtag:blogger.com,1999:blog-15582098.post-75658735328527781112009-06-04T23:43:00.002-04:002009-06-04T23:59:31.935-04:00

Stock Chart Analysis SSprint Nextel Corporation(Public, NYSE:S)Here is a look at Sprint Nextel Corporation via a reader request. S is at an interesting point here, as it has pulled back to obvious support and is oversold enough that a bounce here could be expected. S had a prior line of resistance around $4.50 that should act as support if tested. It also has a gap that hasn't been filled near

downtowntraderhttp://www.blogger.com/profile/17140040998874479581noreply@blogger.com