Interesting Chart Patterns To Monitor In Coming Days...

[MR]

Hi Dean,

I don't post these ideas in chart formation anywhere. They are 'general observation' ideas mostly what I see in my head. I genuinely wish I could do more. All I can do currently to help AGET friends out there is periodically try to plant little seeds of ideas to give them something to can focus on and then let others do their own due diligence. I really wish I could do more to help but this is the best I can do for now.

Take care, hope all is well with you.

Marc

Originally posted by marginman
Marc old friend, where do u post the AGET chart patterns of these issues?

Dean

[MR]

Tuesday, 13 April 2010 --

Looks like some real estate and education related stocks performing well today: DRN, ESI, DV, VNO, SPG, BXP, APOL, AVB, CECO, REG, DLR, KRC, ICF, RWR, BRE

OTHERS Performing Well: EW, OSK, TYH, WBMD, AAWW, FOSL, AB,

[MR]

Wed 14 April, 2010 --

I still am having a hard time believing this market is topping out. The BULLS seem to still attract buyers even on limited good news... or at least the very strongest stocks the past six months are... Today's Best Performers (as of 10AM): ISRG, BIDU, TYH, GS, FAS, RTP, BLK, EDC, CREE, MA, AAPL, SNDK, DB, AMZN, FDX, PCLN, RIG, PKX... to name some.

The US stock market just keeps climbing despite an ever growing crescendo of negative press and occasionally a little interspersed good news. Whenever-- if we ever-- get any kind of a decent pullback I am still inclined not to panic near-term and will keep trying to find something setting up for a buy opportunity.

When NY Crude Oil starts to get above $100 - $120 later this spring or early summer than I will start to slowly grow more defensive and, over time, will begin to prepare eventually for another market top or really good pullback. It seems like that could be the possible catalyst for economic slowdown again over the next 12 months.... it just may take some time to get that really good pullback the way things are currently acting.

I am not a guru or anything... I just look for the obvious and try to anticipate the unexpected. It looks like the big money guys are determined to get back all the money they lost on the last market selloff of 2008.

[MR]

Friday, 16 April, 2010 --

It is a Friday, which in itself can cause position squaring into a weekend. However, after a very good month or so of solid individual stock rallies, it is not surprising we see some overreactions today-- ie, Goldman Sachs (GS), Google (GOOG), Intuitive Surgical (ISRG) showing bigger than normal declines this morning. Periodically that is what happens when institutional investors are involved.

I would anticipate there are still some bulls out there eventually willing to try and take advantage of some of this weakness. You don't normally rush back in and try to buy into this type of weakness immediately because large institutions have ways of punishing little investors who have limited staying power... but if you are patient, and do your due diligence work, don't be surprised if in three days to two weeks you might very well be able to identify relatively lower risk buy setups that should develop once all this selling momentum settles down.

[MR]

Friday, 30 April 2010 -- While maintaining an overall Bullish posture during this earnings season here are some new things to monitor...

(1) One thing I would be willing to buy PUTS or go Short in May some energy stocks affected by the Gulf Coast oil spill[/b]. Wait first for a counter trend rally?

(2) Goldman Sachs (GS) and Blackrock (BLK) stocks appear finally vulnerable to more of a downtrend in May/June.

(3)... Gold futures and stocks starting to act well this week.

Do your one due diligence on things to be safe.

[MR]

Tuesday, 4 May, 2010 NOON-- Odds favor now the US stock market is setting up for a short-term pullback that we have not had in a while. The SPY, QQQQ, DIA daily charts all broke key short-term supports earlier this morning.

[MR]

Wednesday, 5 May 2010 -- My how quickly things can change! European money problems are helping NY Energy Futures prices to drop considerably in two days! The downside is this worry about Europe is adding a little pressure to our stock market, which temporally is stalling out recent gains. US Dollar is growing stronger again. Lots changed in less than two days. Got'ta rethink some forecasts and near-term trading strategies now. We have needed a pullback for a while now... just have to rethink the changing dynamics to better understand the near-term trading implications.

[MR]

Monday, 10 May 2010 -- If the pre-market activity is correct we should have a very massive positive open that makes our 1-day 1,000 drop correction the shortest correction in history? There should be a lot of short covering this morning! We will have to stand back a couple days and see how all this works out. Things seem a little too messed up the past few trading days and I am just not sure how to trade this mess right now. Unless you are a day-trader it is really hard to get great entries long or short right now.

[MR]

Friday, 14 May 2010. 11AM NYT -- Looks like today will be another tough correction type day. Hope this one doesn't get out of hand like last week.

[MR]

Monday, 17 May 2010. Noon NYT EARLY MORNING OBSERVATIONS --

Looks like pullback continues into the new week. Can DJ Industrial can hold 10,200 (10,135) to 10,000 (9,978) area later this options expiration week? If so, I can see a bull trying to position something before Memorial Day weekend holiday.

NY Crude dropped below $70 today puts pressure on crude oil bulls. It could eventually test lower $60's if they cannot quickly push it back into $70 range. Upper 70's to lower $80's now strongest resistance zone on any near-term rallies.... many energy stocks appear to be vulnerable near-term to this potential pullback weakness.

NY Gold still appears to be in either a range bound market or one building for a brief pullback to sucker new bulls out of recent positions. Some are concerned Gold futures is forming a double top. I suspect it is more overbought rather than a double top.

Because the US Dollar (daily chart) gapped higher today, odds favor it will attempt to cover that gap this week. If so, it still can be bullish and does not appear to be an island reversal even if it reverses later this week hard. In general, the US Dollar appears to still have overall net bullish tendencies near-term.

Noticing many of the very high flying Nasdaq stocks continue to be sold more aggressively on little counter trend rallies since the 1,000 point sell off day. That might suggest institutional investors are slowly reducing their positions, maybe trying to preserve or lock in some profits for the near-term... if correct, this adds much higher risk to those bulls out there still trying to chase the minor pullbacks. The momentum might be drying up short to near-term until those stocks once again appear to become bargains again?

... Just some 'observations' for today... thinking outloud what to monitor for before Memorial Day weekend.

[MR]

Tuesday, 18 May 2010 -- I forgot to mention yesterday this is options expiration week. Therefore, common sense suggests unexpected up and down moves this week are very possible. ... I still think odds favor more selling on any rally up to last weeks highs is a realistic assumption this week. If anything, this week could be big up and down swing moves within yesterday's low and last weeks highs? If it took out yesterday's lows later this week it would be better for those bulls positioning to buy something cheaper into the beginning of the summer trading that usually kicks off just before Memorial Day.

[MR]

DJ Industrial target hit as suggested in May 17 post.

Friday, 21 May 2010 -- I started nibbling this morning and bought some cheap Calls this morning... lows in couple key US Indexes holding and seeing a few very good, very oversold stocks so worth a small gamble today. Not risking too much but willing to initiate some aggressive buy ideas going into the weekend.

[MR]

Tuesday, 1 June 2010 -- We were hoping to see some positive things occur after the Memorial Day weekend holiday. This year we are not starting out June as we would have liked. For example, many of the energy stocks continue to look weak. Stocks, like SHLD, which performed well in the first quarter, also, continue to look weak. Is this a precursor that more 'profit-taking' will continue into June? Right now continues to have a cloudy picture what is really going. The market continues to struggle with showing that it has any real major rally potential yet. By the end of this week we should have a better handle on figuring things out.... As for now it looks like I might have been a little premature trying to buy those couple Calls last week.

[MR]

NOON-- Wed, 9 June 2010:

Today's General Update Comments -- Many people I talk to are telling me they expect a rally soon. Everything is looking like we are setting up to hold here, they say. I even thought this too until my Call options continued to struggle and lose value. Just in case a rally does not occur before June options expiration, or before July 4th weekend, I feel compelled to say what is on my heart and what technically concerns me as a technical analyst if everyone is wrong....

1. The US indexes daily charts are at critical, unusual severe pullback pattern where the additional May/June "double bottom" pattern we now see forming, must be preceded shortly by a rally, even a small rally. If not, odds are dangerously high a more severe pullback is highly possible.

2. Because market expectations/perceptions have dramatically changed the past six weeks, serious Bulls must now consider Bearish hedge strategies in the near-future IF the DJ Industrial cannot quickly rise above 10,300-10,400 before the July 4th weekend. Any further breakdown now seriously endangers the two year Bull markets ability to quickly recover the previous strong longer-term uptrend.

3. While I still have Bullish tendencies, I am no longer purely, blindly Bullish as I was two months ago. I will consider using appropriate Bearish trading strategies later this summer.

[MR]

Thursday, 10 June, 2010 -- DJ Industrial was up very nicely today. (+273.28 = 10,172.53) Odds are improving a short-term bottom is in place. Critical support seems to be holding.