Three Socially Dysfunctional Stocks

Here are three social media related stocks that lot of people seem to have written off at one time or another (this writer included), P, GRPN & ZNGA. But if one is to study the recent price actions of these stocks, they have been performing remarkably well. Once again, the market reminding us never to trade what we believe, but trade what we see. The picture these three stocks are painting show possible higher prices to come.

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The Big Six

Here is a look at the follow six widely watched stocks: AAPL, FB, NFLX, TSLA, GOOG, AMZN.

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Market Waiting For The Clown Show

The market hesitated to make a directional move one way or the other while it waits for Washington to perform its clown show with the debt ceiling/budget deal.

There were many market pundits proclaiming how bad the month of September will be when August came to an end. As it turns out, September was not a bad month but it wasn't an easy month for many traders. The market has become more of a stock picking market and the easy picking is diminishing. As October approaches, one needs to be reminded of October 19, 1987, the day the DJIA drop more than 25%. There is no sign the market is setting up to such a drop in October, but certainly one should never be complacent and believing this market will zoom higher without having someone eventually holding the bag.

AAPL, FB & More - 9/24/2013

As the market pulls back and cast some doubts to those that lack conviction, the strong stocks continue to hold their ground. Here is the latest look at possible price levels for FB, AAPL, NFLX, GOOG, AMZN, TSLA, & GS.

Stocks To Watch - 9/22/2013

As the end of September is near, stocks continue to edge higher defying all those that been waiting and warning about how terrible the month of September will be. Although there is still a whole week of trading before September ends and anything could happen. Here is a look at some of the widely watched stocks and a few that might attract some renew attention.

The price action and potential price levels for AAPL, NFLX, GOOG, AMZN, TSLA, LNKD, GS, FFIV, RAX, BAC are reviewed in this video. Click here to view the video if you do not see a video player on your screen.

GLD, SLV & Market Review - 9/21/2013

After the market made a new all time high last Wednesday, a little consolidation came in while the market re-align itself due to the shuffling of the DJIA component and the rebalancing of SP500.

Gold & silver gave back most of their gains from the Fed no tapering announcement. They need to be able to hold support and bounce off the 50% Fib retracement in order to move higher. Otherwise, they could be headed down to retest the June low.

Fed Gave The Market A Boost

Once again, the market surprise everyone by the Fed decision on not to taper. Almost every market participants were expecting a taper from the Fed ranging from 10B to 20B. Instead, the Fed decided the economy is not growing fast enough to warrant tapering, or is there more than not growing fasting enough? Your guess is as good as mine. In the meantime, trade what you see and trade your plan.

Unexpected Move From FB

Today, FB made an unexpected move and reversed to the upside in the mid-day. Here is a look at today's price action and some potential price levels that FB might be targeting.

Someone Know Something?

Is this just a coincidence or a case of 'there is always someone know something before anyone.'

Pull Back From The Active Three

AAPL continues to fall, NFLX appears to be pulling back, and FB profit taking came in big time. Here is a look at some of the possible price level for the coming days.

Something For Everyone

Lot of stocks from different sectors are poise to move higher. Here are some of those stocks from various sector.

The fertilizer sector appears to be waking up after a prolong decline.

Stocks To Watch - 9/15/2013

Gold & AAPL did not have a good week. They both sold off quit bit while the market move higher. GOOG, AMZN appear to rebounding from their recent pullback, and YOKU took off while SODA could be setting up for an up surge.

Near The All The High

Once again, the market is defying what the majority participants are anticipating. As September approaches, the talking headers are tells everyone that care to listen to them that the month of September will be a bad month for the market. So far, the market continues its upward march and appears to be getting ready to assault the recent new high. Although it’s only the middle of the month and there are still many trading day remains, one must not let down the guard to be cautious. The breadth of the market is not as strong as the previous high and that continue to remind us to be cautious.

Murky Picture

The market continues to rally into higher level. The Nasdaq that was lagging in most part of 2012 finally exerted itself and moved into multi-year high territory. Although the tech sector has been strong recently to help push the Nasdaq indices into new high, but the breadth is giving out warning signs to alert market participants to be cautious. Here are the charts of the Nasdaq market breadth showing its divergence.

Stocks To Watch - 9/9/2013

The coal sector was highlighted in this post and they seem to be lighting up recently, here are some of the stocks in this sector that might be of an interest: WLT, ANR, CLF. In addition, casino stocks are breaking out as well and appear to be heading higher, stock such as MGM, WYNN, LVS, and CZR. After bouncing off the June low, gold & silver appear to be taking a breather, but the price action indicates there could be further upside to come. Keep an eye on GLD & SLV.

JCP On The Bounce

Ever since Bill Ackman, the hedge fund manager sold his JCP holdings, JCP stock price has been bouncing up off its recent low. Base on the recent price action, JCP could possibly move higher in the near term.

Price To Watch For AAPL

As trading resume on Monday, September 9, 2013, AAPL prices will likely be volatile as it get ready to announce some new products on September 10 and some announcements in China on September 11, 2013. On its price chart, there appears to be a spot where the near term price might converge.

The Buzz

Near the close of trading yesterday, BBRY was buzzing with news of the possibility auctioning off the company to multiple bidders. This buzz will likely help the technical to play out as it broke above the 10.70 baseline for a potential swing long.

Lighting Up The Coals

The coal sector appears to be getting ready to make an upward move. Here is a look at the coal ETF, KOL and couple coal related stocks: WLT & ANR.

Symmetrical Move

LNKD formed a bull flag with a measured move price target of 267. This bull flag could result in a symmetrical move. Here is a weekly chart depicting the possible bull flag move.

Stocks To Watch - 9/2/2013

Here is a look at some of the momentum stocks and some of the possible price actions for the coming week: FB, Z, TSLA, AAPL, NFLX, and GOOG.

Possible Revitalized Stocks

Here are three possible stocks that could show some upside prices in the near term: LULU, YOKU and OPEN.

The Gold Watch

Looking for a possible pull back for gold before it make another upward move. If gold ETF, GLD pulls back to near 131 region, that would be near the 61.8% fib level and could be setting up another bull flag with a possible measure move price target near 142-143.

The Casino

Sometime the market feels like a casino, but if one apply risk management properly, one can minimize the amount of gambling on a trade and focus more on speculating.

A Pre-holiday Look

A brief review of the following stocks before the Labor Day holiday: GLD, FB, TSLA, KKD, GMCR, AAPL, NFLX, GOOG.

A Sudden Turnaround

The market was showing some strength in the early morning trading with many stocks surging higher. Then near mid-day and early afternoon, the market started to show some sign of stalling and many stocks beginning to give back majority of their morning gains.

Stocks To Watch - 8/25/2013

Here are some of the stocks & ETF that could move higher in the coming week: CHK SLV GLD MGM TSLA KKD FB GMCR CELG NFLX AAPL GOOG GS BAC.

Bouncing Higher

After an eventful week with the Nasdaq halted for trading for 3 hours due to system problem, the market continues to bounce back toward higher level. There are signs that this could be the last attempt on running up to make a new high for the market. While the trend still remains to be up, one must continue exercise caution and follow the stocks with strength.

Continue To Watch & Continue To Hold

With the DJIA closing down more than 100 points, NFLX, FB & TSLA appear to be holding up well. Continue to watch and continue to hold until your catalyst is invalidated by price. The current unsettle state of the market is difficult enough to maintain the course, so don't let your opinion or personal bias influence your trading decisions. More importantly, don't let others' opinions alter your trading positions. Trade what you see and trade with your convictions.

Stocks To Watch - 8/21/2013

The market still in the process of deciding which direction it wants to move. The SP500 is hanging around the 50 SMA that can easily break toward the downside or reverse back toward the upside. While the market is deciding, there are stocks showing strength and stocks at the crossroad where it can break down or reverse back up just like the market might do.

Looking The Other Way

Today, one simply need to look the other way and pretty much ignore in most part what the market indices are doing. The larger time frame trend for the market still pointing up, while the shorter time frame appear to be indecisive (correction or reversal?). Under the current market environment, it is very difficult to play the trend. You do not want to go aggressive long, and definitely do not want to short the market until it has clearly display the trend is down. Therefore, one must resort to be a stock picker and play the stocks that are showing strength.

Gold & Glitter

Since gold put in a closing low of 1212.30 on 6/27/13 and tested with a slightly higher closing low of 1213.40 on 7/5/13 in the futures market, it has been trending up toward 1350.

Remain Cautious

The market got spooked from CSCO earnings report. The news of a 5% layoff from CSCO was a big surprise to the market. With the PC market slowing and IBM projecting a tough quarter ahead, it was a making for the tech sector to get hit. Since IBM, CSCO and INTC are part of the DJIA, a 200+ point on the downside for the DJIA was not surprising.

Needs To Be Patience With FB Once Again

After FB moved back above the IPO price of 38, it has stalled and attempted to consolidate around the IPO price level. During the last couple trading sessions, it has broken below the IPO level and headed back down to 36. Looking at the weekly price chart, FB is in the process of completing an evening star candlestick pattern. This pattern typically is bearish when it is formed near the top of an uptrend. One can also see the similar price pattern formed by AAPL in September of 2012 prior to an extended retracement. After FB complete this pattern and price breaks below 36, then there could be some long opportunities when it has found support near the 34 level. Until then, one should exercise patience and wait for the next long trigger from FB.

Market Pulled Back

After CSCO announced its earnings and the pending layoff of 4000 people, the market sold off. From yesterday's review, the market breadth is indicating a pull back is imminent.

Here is a look at the market and what to expect next.

Headwind Could Be Striking

After the market closed today, CSCO reported its latest quarterly earnings and gave some surprising unsettled news about its business outlook for the coming quarter. In addition, the biggest surprise is the 5% workforce reduction (layoff) of 4000 workers worldwide. This is one thing no one is expecting, and for CSCO to take such drastic and sudden action, one must question how bad the global economy really is?

The New Old AAPL & More

Here is a follow up review for some of the stocks that were reviewed earlier. One of them is AAPL. AAPL was on the verge of breaking out of the double bottom pattern. Today, AAPL made a move above the pivot near 472. Then later on the trading session, Icahn tweeted to let everyone know he has a sizable position on AAPL and he felt AAPL is very undervalued. This tweet has increased AAPL market cap by 25B (yes, with a 'B'). AAPL is currently trading like it use to trade...volatile with lot of buzz. This is the new 'old' AAPL.

Analyze AAPL & NFLX Using Multiple Time Frame

Here is an analysis of AAPL and NFLX using daily, weekly and the 30 minutes intraday price chart to identify potential support & resistance levels, and possible price targets.

Home Builders Need To Rebuild

After an impressive run, the home builders have retreated and they have retraced to possible key support levels. If these support levels failed to hold, then look for further retracement from these stocks.

Something For Everyone

The market pulled back slightly last week. It might feel worst than it seems, since there are many days with triple digits intraday loss ended with a modest loss. This type of price action might give us some false sense of security. But, the trend is still pointing up, so until the market tell us otherwise, continue to trade the current trend.

The stocks being covered in the video are: AAPL GOOG AMZN NFLX IBM GS MS BAC JPM FSLR SCTY TJX RL TIF MGM LVS WYNN WFT SLB CHK PXD UPL EOG CLF P LNKD TRLA Z FB

Silvery Bounce

After the precious metals made their low in June, they been grinding back up to the mid-June price gap. The silver ETF, SLV is also trying to break above the 19.80 level and possibly move up toward filling the June price gap.

The Day After For PCLN

The Fib 161% extension level near 994 proved to be the resistance for PCLN on the day after it has reported its earnings. The intraday high for 8/9/2013 was 994.98.

As shown on the daily price chart, the price essentially reached the upper band of the rising price channel, and it appears the resistance has prevented PCLN from reaching the 1000 level on this attempt.

After The Earnings For MOMO Stocks

Let’s take a look at some of the MOMO stocks that have recently reported earnings: GOOG, AMZN, NFLX, TSLA, and LNKD.

PCLN The $1000 Stock?

PCLN reported its latest quarterly earnings after the close today and the price of its stock moved toward the $1000 mark in after hour trading. The option market priced a possible +-$54 price movement on earnings, a 5.8% based on the normal trading session close of 933.75.

As one can see from the chart in the video, PCLN closed at 984.04 in the after hour session.

Post Earnings Review For TSLA & GMCR

Certainly there was no shortage of anxieties and anticipations from those that were waiting for the earnings report to come out for TSLA and GMCR after the market close today. Those that are holding long position on TSLA certainly got rewarded, but those that are holding long on GMCR did not.

Don’t Be Blinded By The Bias

As recent history has shown, the two most hated stocks are rewarding those that are willing to put their feelings (bias) aside and trade according to price action. The two stocks I’m referring to are FB and AAPL.

BBRY could be another one of those hated stock making a similar move. Don’t be blinded or influenced by all the chatters, whether they are positive or negative. Put away whatever bias you might have and trade what you see. How high can BBRY bounce off its recent low and how long will this move last? Who knows? As a trader, just trade it until it stops moving. As always, trade your plan.

Here Come The Fireworks

Two heavily shorted stocks are scheduled to report their earnings after the market close tomorrow, they are GMCR and TSLA. The option marketing is pricing these two stocks to have price movement of approximately plus/minus 13% or plus/minus $11.00 and $18.00 respectively.

All Bets Are Off For MGM

MGM has been trending upward from the lower bound ($9.00) of its multi-year trading band to the upper bound ($17.00) since the end of 2012. It has broken through the $16 resistance level and currently testing the $17.00 trading band resistance. The short term moving average, 20EMA, along with the 50 & 200 days SMA have been rising with prices trending above them. Here is an earlier post on MGM setup.

But, before the market open for trading on 8/6/13 (Tuesday), MGM will report its quarterly earnings. Depending on the quarterly results and/or the forward guidance, the price of its stock can react positively or negatively. One could avoid the adverse price reaction to earnings surprises by taking off all bets on MGM until after earnings have been reported. As always, trade your plan.

Rational Fear & Greed

Whenever fear & greed are at an elevated level, there are no rationales to stock value. This is exactly what is happening to TSLA, similarly to NFLX, AMZN and many Web 1.0 stocks back in the dot com bubble. No one say you have to like it or accept it, you could just watch and learn how the game plays out over and over again. So whether you are in the TSLA trade or simply being a spectator...ENJOY the game (even if you know how this game will end). If you are in the trade, I wish you will make a lot of money and be able to keep them. Good luck traders!

Path To The 40s - FB

Ever since FB reported its latest quarterly earnings, the composure of its stock price action has changed. It has surprised lot of traders that do not believe FB could move back into its IPO price of $38 this quickly. Now many of these traders are waiting for a pullback to buy in. The most likely scenario is those that have missed the initial move will end up chasing the high as FB run toward the IPO high near $45.

Too Many To Choose

The market continues to make new all time high and stocks are on the verge of making new 52 weeks high. There are so many stocks in every sector displaying price action that can propel them into new 52 week or new all time high. There are simply too many stocks to choose to go long, it is getting scarey.

The following video will review the market along with highlighting some of the stocks that have the possibility of breaking out to new high.

These are the stocks being reviewed in the video: JPM BAC C GS MS TLT TBF JNK GM F WMT URBN TJX RL TIF KKD DNKN YUM MCD GLD GDX ABX GOLD GG GFI AOL GOOG HPQ AAPL FFIV PCLN NFLX BRCD JDSU YOKU LULU CRM

Pre-earnings Watch For DDD

The option market is pricing in a ±10% or ±$5.25 price move for 3D System earnings report before the market open today. The stock made a big move ahead of earnings. Could it be someone know something ahead ER or someone simply betting big on a positive earnings report outcome?

Stocks On The Move - 7/29/2013

Here are some stocks that could be on the move: AAPL, FB, GOOG, CHK, PFE.

Weekend Posting - 7/28/2013

Here are couple of pharma stocks that could have possible upside in the near term: LLY & PFE

Holding On Impressively

The market continue to close at record level and the DJIA, SP500, Nasdaq 100, Russell 2000 are holding their gains near their record high territory.

Post Earnings Watch For AAPL

AAPL reported its quarterly earnings after the close on 7/23/2013. The surprising result was the strong sale of the iphone. The market was expecting somewhere around 26 million, and AAPL sold 31 million iphone and that gave the stock price a boost during after hour trading.

After New All Time High

After the SP500 closed with new all time high at 1692.09 on July 19, 2013, what’s next?

Betting On MGM

Here is a break down on recent price action from MGM. As one can see from the weekly chart (figure 1), ever since MGM made its low in March, 2009, it has been trading within a trading range of $9.00 to $17.00. The last time it touched the lower bound of this trading range was in November, 2012. Now, the price has climb back near the upper bound of this trading range and could possibly breakout of this range.

Renew Strength

The market closed at another new all time high. The DJT gave a Dow Theory confirmation today by closing at a new all time high along with the DJIA. The only index that shows a slight weakness is the Nasdaq 100, and that is due to some negative stock price reactions from disappointed earnings report.

Earning Watch For GOOG, GS, & More

Some potential price levels to watch for as GOOG, GS, BAC, INTC, CMG scheduled to report their

Market Decided To Move Higher

As the Fed chairman reassure the market it will continue with its easy credit policy, the market took off to new high territory. Although the DJIA and the SP500 closed with a new all time high, but they still have not closed above their all time intraday high. Short of any negative surprises from this earnings report season, the

Who Is In Control Of The U.S. Bond Market

As investors start pulling their money out of bonds, and country like Japan and eventually China start dumping their U.S. treasury holdings, U.S. long term rates will rise.

New High For LNKD?

It appears LNKD, one of the more strong social media stock, appears to be setting up to make a new all

AAPL & NFLX

AAPL might have established a near term double bottom, or it could be forming an inverted cup & handle pattern. Until it has confirmed which price pattern is in play, any swing trades will be elusive.

Key Levels For Gold

Investors are still pondering if this is the time to buy gold. Until there is a thesis to support owning gold as a hedge for inflation or as a safe haven, one need to simply take to the sideline and wait for the price of gold to

Still Deciding

The market is still trying to establish a direction. It is still at a crossroad that it can push toward the upside, or it can easily retreat from current resistance and move back to test recent support level. Until the market has

TSLA And Its FIB

Looking at TSLA with the FIB tool to find some potential price targets and possible resistance & support levels.

On The Move

NOK and gold could be on the move. Here are the charts for NOK & gold futures.

HPQ - A Turnaround Play

HPQ share price has more than double from its November, 2012 low when the price dipped below $12 a share. Looking at the recent price action, it has the potential to move into the $30-$38 in the near term if it

The Bounce

The market bounced as anticipated. Before it did, the market put in another triple digit down day for the DJIA on Monday to lure more shorts into the market before it heads back up toward potential resistance level. One can call this rally the “dead cat bounce”, “oversold rally”, or “end of the quarter window dressing rally”. In regardless what label to use for this bounce, the real question is where will this market go from here?

The Bias

Here is the mystery chart (see below) I have posted on Sunday. If I have stated the chart belongs to AAPL, most people would have given the outcome based on what they like to see but not what could likely occur.

Stocks On The Watch

Here are some stocks that might have some interesting price movement for the coming week.

The Head Fake

After the market rallied on Tuesday and took out the June 10, 2013 pivot high, the market accelerated downward when the FOMC made its announcement on Wednesday. This abrupt market reversal should not be a complete surprise to all market participants since the advance/decline line and the new high/new low indicators were alerting us to remain cautious and beware of  head fake("The Market Decision").

The Market Decision

Today, the market appears to have decided to resume back toward the new high territory. Getting to the new high territory is a wait and see matter at this time. But at least the Russell 2000 has pointed the way by closing with a new all time high today(without the notice from those talking heads).
 

Golden Moment Again?

From the recent price actions in gold, silver and some of the mining stocks, it appears the precious metals might be setting up for a bounce after the recent turbulent drop.

Here is a video reviewing the recent price actions and some of the possible upside price targets and breakout levels.

At The Crossroad

The market is at the crossroad once again. One move from the market and it will propel into another new high or it will dip below the recent pivot support to begin an extended downward move.

As stated previously, the June 10, 2013 intraday high from the DJIA, the SP500, the Nasdaq 100, and the Russell 2000 are the pivot levels the market needs to penetrate in order to resume its uptrend. If the market failed to move above the June 10 high and dip below the June 6, 2013 intraday low for the DJIA the SP500, the Nasdaq 100, and the Russell 2000, then the market will likely be headed down to a level that will likely exceed the typical 5-8% correction. The dip below June 6, 2013 low will affirm the new all time high of 15,409.39 made by DJIA on May 28, 2013 is the market top as measured by the DJIA and by the Dow Theory non-confirmation by the DJT.

(click on the chart to get an enlarge view)

SP500:



DJIA:



DJT:



Nasdaq 100:



Russell 2000:

Directional Move For NFLX

NFLX finally broken out of the developing wedge pattern, and it could be heading down to fill the gap made between 4/22/2013 and 4/23/2013. Before it gets there, it will likely encounter some support levels. In this video, we will look at some of those possible support levels for NFLX.

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Stock Market Review - 6/10/2013

Today the market finished nearly little change from previous session. The SP500 closed at 1642.81 with a loss of 0.57, the DJIA closed at 15,238.60, -9.50, Nasdaq 100 loss 0.38 with a close of 2990.49, and finally the Russell 2000 closed with a small gain of 5.05 at 992.67.

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AAPL & LULU - 6/9/2013

With the annual WWDC next week, AAPL is bound to experience additional volatility as the market anticipate the company to make some new product announcements. After the market closed tomorrow, LULU will be reporting its earnings. The market will find out then how much an impact the see through fabric mishap has impacted LULU's earnings.

Here is a video on where the market might be moving these stock prices in anticipating the respective company's event.

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Disclosure: No position.

The Market Bounced Back

The market closed the week with a gain after a few days of triple digits loss for the DJIA. On Thursday when the SP500 came down to the widely watched support level near 1598, it behaves like clockwork and bounced of this support level. The market continues to move higher on Friday and closed the week with a gain near the high of the day at 1643.38. Similarly for the DJIA, after two consecutive down week, it also closed the week with a gain at 15,248.10, the Nasdaq 100 closed up for the week at 2990.87, and the Russell 2000 closed at 987.62, up for the week.

TSLA Update - 6/6/2013

An update review of TSLA.

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Stock Market Review - 6/6/2013

Here is a quick look at what the market did and where it might be headed.

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Uncharacteristic!

The DJIA was up since today's opening while the SP500, Nasdaq 100, Russell 2000 and the DJT all were negative. By the end of the trading session, the DJIA closed with a gain of 138.40, SP500 plus 9.68, Nasdaq 100 a gain of 9.03, the Russell 2000 plus 6.387, and the DJT closed with a loss of 1.91. These gains and loss are no big deal. But what is the big deal is the uncharacteristic of the market breadth indicator

TSLA Review - 6/2/2013

Here is a look at TSLA and potential price levels to monitor.

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AAPL & NFLX Review - 6/2/2013

A video review for AAPL & NFLX.

Fatigue Market

The market continues to show signs of fatigue. After the big run up on the first trading session of the week, all the major market indices ended the week with a loss.

On Friday, selling picked up in the last hour and an half of trading. There were talks the last minute selling is due to end of the month rebalancing. But whether it is rebalancing, the talk of end of QE-infinity, the selloff in

High Alert From The Rest Of The Market

After the Memorial Holiday, the U.S. market resume trading and it opened strongly with the DJIA up more than 200 points at one time, then the market started to retreat and the DJI gave back half of its gain to close at another all time high at 15409.40, +106.30 for the day. The SP500, Nasdaq 100, Russell 2000, and the DJT closed with a gain for the day as well, but they failed to close at a new high.

MOMO Stock Review - 5/27/2013

Here is a look at where the price of AAPL, GOOG, AMZN, NFLX, BBRY and GS might be headed.

Click here to view the video if you do not see a video player on your screen.

Natural Gas Could Be Burning Bright

The natural gas ETF, UNG appears to be setting up to break the recent high of 24.09 level. If it does breakout, then the upside price target is between 28-30 using the measured move from the developing cup & handle pattern started in October of 2012.

(click on the chart to get an enlarge view)

Stock Market Review - 5/25/2013

The market did a reversal last Wednesday and gave the market participants a spook. Before one conclude that the market has topped out, let's remind ourselves that the market top out is a process and it is not an event. From the various indices and the market breadth indicators, they have not indicate the market has topped out. Until the market has show sign that the dip buyers are back in and the current pullback has ended, be cautious and be patient.

Deja Vu

Really! This time is different?

Check these past post, "How Long Can This Last?" and "Here's When It Got Started ... SP500 1250" then ask yourself is this time any different than the past...Deja vu!

Possible Trend Change For AAPL

If one compare the current AAPL price chart to the chart posted in "Chronicle Of A Trend Change", one can see many similarities. If AAPL breaks above 445 and move to test the resistance near 470, then it will have complete the higher-high, higher low pattern that define an uptrend.

AAPL Daily Price Chart
(click on the chart to get an enlarge view)

Levels To Watch For AAPL

AAPL has displayed some bullish price action and could be setting up to reverse to an uptrend. The near term key resistance level for AAPL is 445. If it can break above the 445 level, then look for it to possibly move up to 465/470 level. An inverted head & shoulder price pattern will be formed if AAPL move above the 470 level, and the projected measure move price target from this price pattern is near the 555.

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Disclosure: Long AAPL

Stock Watch - 5/19/2013

In this video, a review on some stocks that could have upside price action in the coming week.



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Disclosure: No position.

Are We There Yet?

As the market continue to climb higher, many market participants are preoccupied on waiting for the correction to appear. While these participants wait and ponder on when will this market will correct, they are missing the opportunity to long this market. Those that are focused on riding this market up are not asking "When will the overdue market correction appear?". Instead, they are asking "Are we there yet? Has the market reached the top?"

Here are some observations to help those that are wonder whether the market has reached the top. From the chart below, one can easily see the SP500, DJ Industrial 30, Dow Jones Transportation, Nasdaq 100,

Where Will They Go?

Here is a video reviewing the price action for AAPL GOOG AMZN NFLX BBRY & ANGI, and where they might go. GS is also being covered in this video.

Click here to view the video if you do not see a video player on your screen.



Here is a weekly chart using the measured move to project a possible price target of 177 for GS.



Disclosure: Long NFLX & BBRY call spread.

MOMO Stocks Review - 5/12/2013

Here is a video reviewing the price actions and potential price levels for AAPL, GOOG, AMZN, NFLX, BBRY, and ANGI.

Click here to view the video if you do not see a video player on your screen.



To find out what price levels the market might be targeted, check out Until The Market Change Course.

Disclosure: Long NFLX & ANGI, long BBRY call spread.

Until The Market Change Course

The market continues its upward march. After showing sign of a possible non-confirmed high might be in the making, it reaffirms its desire to move to higher level. The small caps Russell 2000 index is once again making new high along with the SP500 and the DJIA, even the DJT participated with the recent new high party until the last trading session, May 11, 2013. On May 11, the DJT failed to make a new high while all other major market indices made new high. This failure could be simply another temporary divergence between the DJIA and the DJT or it could be the final warning from the Dow Theory to alert us to prepare for the imminent market top.

As the market has displayed time and time again, those that try to call the market top will be reminded who is the boss and will get punished, and those that exercise diligence and patience on listening to what the market has to say will be rewarded. At the present time, the market continues to punish those going against the prevalent trend. Let’s remind ourselves, the market topping out is a process and not an event, and it does not just reverse itself on a dime. The market has to complete the process of money transfer and risk transfer before it changes course. This transfer process takes time and as this process progress, the attuned students of the market will see this process play out. Until the market start showing signs that it is in the final stage of this transfer process, one should continue to ride the trend cautiously or head to the sideline and observe.

Here is a video that review the recent market price action and highlight some of the intermediate key levels the market might be targeted.

Click here to view the video if you do not see a video player on your screen.

Has AAPL Made A Bottom?

From the recent Apple stock price action, it appears an intermediate bottom for its stock price might have been made. This bottom might be due to Apple’s recent stock repurchase announcement.

After Apple announced its earnings for the second quarter of fiscal 2013, it announced an increase to its stock repurchasing program from $10 billion to $60 billion.

Apple reported record revenue for the quarter, but the quarterly net profit of $9.5 billion ($10.09 per diluted share) was below a year-ago same quarter result of $11.6 billion ($12.30 per diluted share). In addition, the gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. Apple’s stock price would have reacted in an adversely negative fashion with these financial results. Instead, the stock price held above the recent low of $385.10 made on April 19, 2013. More importantly, Apple stock price has increased more than 10% since the reporting of second quarter financial results. Its stock price went from $406.13 at the 4/23/13 close to 5/2/13 closing price of $449.92. The reason Apple stock price did not reacted negatively could due to the possible price support from its $60 billion stock repurchase program.

From a technical perspective, the monthly stock price chart show a dragonfly doji candle formed for the month of April. This type of candle typically signify a near term price reversal, and an intermediate low for the stock price.

Click chart to enlarge

Usually, a dragonfly doji candle is accompanied by capitulation selling. But for AAPL, there was no increase in trading volume for the month of April. The absence of increasing volume associated with the dragonfly doji could mislead some of the AAPL bears to remain short while they wait for the capitulation to occur. This misread from those AAPL bears could turn out to be very painful and costly if the April dragonfly doji candle reflects the true price action.

Click here to see possible trading price levels for AAPL.

Disclosure: Long AAPL

Post Earnings Review - 5/4/2013

Here is a video reviewing the price actions for the following stocks that have recently posted their quarterly earnings.

Click here to view the video if you do not see a video player on your screen.