Thursday, February 2, 2012
Evening Thread
Nasdaq 100 weekly chart.
Ladies and gentlemen - we have a breakout. Enjoy it while you got it.
For the record the SP 500 is not above 2011 levels.
Afternoon Thread
Coal Porn. Daily chart going back over a year. I am looking for a close above that downtrend line. It shows up on intraday chart. That is same line I have on the long term chart. I love technical analysis.
(Position: I am long PCX common and short PCX 7 puts in Feb and March.)
Morning Thread
Gator's Chart of the Day |
Looking at the chart you can see it is right up at resistance again after a pullback from a nice run in January. The stock made a good move today on volume well above average. The 200 day sma is about 15% above the current price and I think it has a good chance of testing that level. I would use Tuesday's intra-day low (4.10) as support and have a stop just below that. I have no position.