You are currently browsing the daily archive for June 28th, 2009.
Large traders net long positions still greatly outweigh commericals in the shiny stuff and the potential for a head & shoulders bottom on the weekly is still a possibility but being a weekly pattern, that’s still a ways off. Is it too late to get in? Can you trade in/out of GLD over the coming weeks?
The answer is yes you can. Shorter term on the Daily, it’s forming a pennant or flag so just buy at the bottom of the pennant with your stop below support.
Monitor stock trends, analysis, breaking news, share stock ideas and chat with other investors, financial columnists, hedge fund managers, floor traders, etc. with Twitter. No longer an infant, Twitter continues to release updates and new applications to fit our busy lifestyles. I, myself, am not what you’d call *tech savvy*. Working out of my home now I never even have use for a cell phone – my 16 year old son has it. I can navigate my computers but am definitely not a techno geek. A few months ago I began using stocktwits.com and then stand alone tweetdeck and I must admit I’m hooked. Now I’ve installed digitweet and I’m in heaven organizing my favorites, color-coding users and my search pane. Don’t know how I got along without it. For those on the run, there are apps to tweet using your phone. Obviously I highly recommend you check it out. This is the 21st century after all and what do they always say in this business? The trend is your friend. Don’t fight the trend. 19 Twitter Apps
Healthcare is a good refuge here when the market is indecisive and somewhat Bearish. AFAM has been forming a descending triangle, a continuation pattern and is nearing its apex. I have an order in for $26.20 and will hold it for around a week or so. Plan to take off part around $29 and $32. Might leave a little on just to see if it keeps going. Only going to risk .30
Bulls As Elusive As A Maria Belen Shapur Photo
(excerpt from Bespoke Investment Group 6/25/09) Following a market decline of less than 6% from its highs, sentiment of individual investors is at its most bearish level since the March lows. Based on this week’s survey from the American Association of Individual Investors (AAII), 28% of investors are bullish while 48.8% are in the bearish camp. The current bull-bear spread of negative 20.8% is the lowest level since the week ending March 12th. While single-day market declines of 6% were commonplace less than six months ago, given the scars of the bear market, a multi-week pullback of less than 6% is enough to send the bulls heading for the hills.
Sales have fallen, plants have closed and the value of the US Dollar isn’t what it used to be. So what’s your stock truly worth now? There are several methods to arrive at this conclusion but here’s a simple way to calculate a stocks’ *ballpark* value when you’re thinking of buying or if you merely want to check a stock you currently own. If you’e buying in June, is it already overvalued? What’s your target price going to be? If you own, you may find it’s still undervalued or it might be topping out and you may want to consider taking some profits.
