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

Oclaro is in the optical components, modules and subsystems business.  They market primarily to network providers.  Their thin film filter products are used in dense WDM (Wave Division Multiplexing) transmission facilities.  WDM technology is used to increase bandwidth over existing optical networks.  In other words, using this stuff you can cram more bits down the existing pipe instead of building a new one.

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.