Saturday, June 06, 2009

Keep rolling the dice

I spent Friday away from the computer, so I was unable to trade all day. I managed to check the pre-market action and adjust my stops, then tried not to worry the rest of the day. When I got back I saw that no stops were triggered, so my 5 holdings still exist. Here's the update:

Is still creeping up the triangle support. I have two lines of resistance, the triangle peak at 4.10, and a Fibonacci peak at 3.99. On the other hand, I'm worried that this triangle has gone on too long and will fail. I'll be keeping my stops based on the Fib numbers.

Is trucking along an upward channel, and just popped through resistance. Fib numbers have a target of 21.14, and the channel says we won't get there before July 7. I'm keeping an eye on volume to see if it keeps up through this rally.

Tested resistance again today, but failed. Stop is based on Fib numbers, and the Fib target is at 6.12. I'm getting worried about this one.

Continues to test my patience, but it's starting to look like a short-term flag for the resistance penetration. That resistance is now support, and being tested repeatedly. I'm starting to relax a little more on this one, and Fib target is at 41.82, but the channel won't let that happen until August. There's always a bump-&-run pattern to boost it quickly.

Resistance around 2.24, and there's a really strong long-term target of 4.30. Long-term here means no sooner than August.

I'll also be looking into getting into OSCI, among a few others. But OSCI is less than a dollar, and volume is going nuts, so I'm going to see what I can do with it.

(image from

No comments: