Wednesday, January 02, 2008

Chart Reviews


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S&P500 SPDR Trust (AMEX:SPY) -
SPY got dragged down by the financials again. First, the daily view:

Today's volatility was more like an appetizer of what is in store for this month. BPSPX doesn't look too good at this stage. The follow 10day chart describes more the market structure at this point:
The eMini Futures (ES) is creeping back up in the overnight session. Will be watching XLF and my tells for more insight. Inc. (NASDAQ:AMZN) -
Price action was a bit messy, but nonetheless it has to be considered bullish and relatively strong when the rest of the market was failing.

Popular, Inc. (NASDAQ:BPOP) -
BPOP was on my watchlist. I came, I saw, I bought.
The 10d and 50d EMA lines are both between 10.2 and 10.3. Failure to close above that level tomorrow and I will tighten my stop.

MasterCard Incorporated (NYSE:MA) -
Because of my indecision, "hopefully" I will not be even given the opportunity to decide whether to add to my half position in MasterCard. Target of 224 still stands.

Potash Corp. (NYSE:POT) -
The longest that POT has been in overbought conditions was for 11 sessions at most. Today was session #8. It is time to look for an exit, perhaps on the next surge of buying.

I've added RIMM, HOKU, OPTT, VMW, VIP, SKF and FXP to my watchlist.

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