Tuesday Evening

The SPY printed a nice hammer and it emboldened me to take some calls.










AAPL also printed a hammer, but it was red rather than green or an open box.  Is a red hammer fundamentally different from a green one?  Do these indicate a bounce?

Tuesday afternoon

Dirty Harry market

Do ya feel lucky ?

Tuesday Morning Thread

Gator's Chart of the Day: CHD

Church & Dwight reported earnings last week and it still has not slowed down ... but it just might be close.  (The chart reminds me of CMG just before it began a correction that has passed 10% and looks like it could still be going down.)  Today's move outside the upper Bollinger band on above average volume makes the chart look very extended.

CHD has a lofty P/E (19+) for a low tech company.  With a PEG well over 2 this stock looks like it's ripe for a decent pullback.  Institutions own 83% of the common and if they decide to take profits the stock may drop quickly.  If you are long a tight trailing stop on at least some of your position seems in order.

Note: All stats quoted are from Finviz