 |
 |
 |
 |
 |
 |
Issue #337 
August 4, 2013 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
|
| Up, Up, and Away. New All-Time Highs Made!
DOW Friday closing price - 15658
The DOW was able to make another new intra-week and weekly closing high this past week having closed 100 points higher and increased the new all-time intra-week high by 58 points above last week's numbers. The index closed on the highs of the week and further upside is expected to be seen this coming week, especially since the positive momentum continues and there are no scheduled earnings or economic reports that could derail the bulls.
The DOW was helped this past week with better than expected economic reports as well as well as the Fed re-stating on Wednesday that they have no immediate plans to start cutting back the stimulus program. With an economy that continues to improve and the Fed support that keeps the market propped up, it is difficult to make a case for the bear side.
On a weekly closing basis, there is no resistance above. On a daily closing basis, there is no resistance above. On a weekly closing basis, support is minor at 15354 and decent at 14799. On a daily closing basis, support is minor at 15499, minor again at 15409 as well as between 15296 and 15318. Below that level, support is decent at the 15000 demilitarized zone and decent to perhaps strong at 14659.
To the upside, the DOW has only general or psychological resistance levels with 15700 being the general resistance and 16000 being the psychological one. Nonetheless, in looking at the longer term chart and using the weekly closing chart, a 2-point trendline can be drawn using the major all-time high seen in Dec99 at 11750 and the major all-time high seen in Oct07 at 14198 that connects this year at 15850. Using the intra-week highs on both of those years, it shows a possible intra-week upside target of 16050. By the same token, it can be said the index broke out of a haphazard flag formation this past week when it went above 15604, and that flag formation offers a 16151 upside objective on an intra-week basis.
In looking at the fundamentals and considering the potential bubble that has been created with the stimulus supplied by the Fed, it does stand to reason that these projected resistance levels could signal a major top to this 4+year rally that started in March 2009 at 6469 and that has caused the iDOW to rally almost 10,000 points and increase 2.48 times in price.
To the downside, the DOW has now built a support level of minor to decent consequence at 15405 that also represents the previous all-time high daily close at 15409 that was made on May 28th and from which a drop down to 14551 occurred. A drop and close below that line would not only give a short-term sell signal on the daily chart but a daily close below 15409 would also give a failure to follow through signal as well. A drop below that level will likely push the index down to the 15000 level which is where psychological support is found as well as the 100-day MA that has held well this year since being broken to the upside the first day of the year.
There are no technical or fundamental reasons presently for the DOW to falter this coming week. The index has momentum to the upside, no resistance above, and no scheduled economic or earnings reports that could derail the rally. There is a "general" resistance to buy at these levels so the probabilities do favor a slow upward climb rather than a fast and strong spike-type rally. Under those conditions though, the traders will be looking to see where the momentum stops and the index starts to back off without any negative catalyst occurring. It is likely that the top to this rally will come with a whimper and not a bang. By the same token, it is now likely that the index will continue higher without much selling until the upside objectives I mentioned above are reached, meaning that another 200-400 points to the upside are likely to be seen.
NASDAQ Friday closing price - 3689
The NASDAQ continued to outperform the other indexes having gone up this past week close to 3% in value with the other 2 indexes going up around 1%. What this means is that this rally still has legs attached to it because when the NASDAQ is the leader it means buying is being done overall and not just limited to one sector or a few specific stocks.
The NASDAQ will continue to be the index most closely watched this coming week as it is the only one that still has resistance levels above, even though they are "old" resistance levels from 1999-2000. Nonetheless, it does give the traders chart points they can look at, especially now where most of the economic and earnings reports of importance are out.
On a weekly closing basis, there is no resistance until decent resistance is found between 3860 and 3887. Above that level, there is minor to decent resistance at 4004 and decent to perhaps strong between 4234 and 4246. On a daily closing basis, there is no resistance in the last 12 months. On a weekly closing basis, support is minor to decent at 3357 and decent at 3202/3206. On a daily closing basis, support is very minor at 3587 and minor at 3579. Below that level, there is minor support at 3502 and minor again at 3459. Below that level, support is decent at 3400.
The NASDAQ has gone up on 23 of the last 28 days and the biggest drop on any one day was 46 points and it only happened once. The strength and points accomplishment of this rally (almost 400 points in 6 weeks) feels like the bulls are trying to get all they can before a collapse occurs. It is like running fast to shelter before the storm arrives. There is no close-by objective yet in sight but the frenzied nature of the rally does suggest that there is not much more left before a stoppage occurs.
To the upside, the NASDAQ does not show any intra-week resistance until the 4000 level is reached. Nonetheless, on a weekly closing basis there is decent resistance expected to be found around the 3860 level, which is only 171 points higher from Friday's close. With the index "averaging" an 83 point rally to the upside every week for the past 6 weeks, it can be surmised that reaching the 3860 resistance level could be seen in a matter of just 2 weeks.
To the downside, the NASDAQ will now show support at 3573 and then again at the gap area at 3552. A break of the 3573 level of intra-week support would now be a negative sign and closure of the gap at 3522 will likely signal that a top to this rally has been found.
With the charts of AAPL, AMZN, NFLX, GOOG, and PCLN all suggesting higher prices will be seen this coming week, the NASDAQ is likely to continue higher as well. By the same token, the situation with the index is like that of a rubber band that keeps stretching and when no further give is seen, it will either break of bounce back with the same kind of strength.
The probabilities highly favor further upside this week and little selling seen. With the DOW now likely to get up to the 16000 level, the NASDAQ being the leader and usually working on a 5-1 basis with the DOW, it will likely get up to the 3860 level, and all probably within a period of 1-3 weeks. Any deviation from that will likely be seen as a failure of the bulls to accomplish the upside goals and that would likely be seen as a strong negative. Like I have said before, the traders will now probably be looking more at what the indexes do not do, than what they do, at least over the next couple of weeks.
SPX Friday closing price - 1709
The SPX took a bit of a leadership role this past week as the index had a better percentage gain than the DOW and also broke though the decent psychological resistance at 1700. With no resistance above, the index has open air and the only thing that might stop it is the other indexes getting up to their potential upside objectives. The index itself has no chart upside objectives or resistance levels in view.
Some of the SPX stocks, such as GS, JPM and MS do show some resistance levels above, but then stocks such as AXP and MMM are also into new all-time highs with no resistance above either, suggesting the index could continue higher without much problem.
On a weekly closing basis, there is no resistance above. On a daily closing basis, there is no resistance above. On a weekly closing basis, support is minor to decent at 1592, minor to perhaps decent at 1558/1561, and decent between 1553 and 1555. On a daily closing basis, support is minor to perhaps decent between 1669 and 1676, minor at 1649, and very minor 1634. Support is decent between 1608 and 1612 and decent at 1573.
The SPX is not likely to be the leader of the indexes at this time and therefore dependent on what the other indexes do. With the upside showing only open air, the traders are likely to key on the support level at 1669/1676 for any special clue about the index itself. That area is now considered minor to decent support and a break and close below 1669 will give a sell signal as well as a failure to follow through signal and would probably mean that the top to the rally has been found.
To the upside there are no parameters to watch but many of the previous big-time highs have come in around the mid-point area between 2 psychological levels, meaning that the 1750 level might now be the upside target. For the time being, the probabilities do favor further upside with 1700 now becoming a probable support level for the short-term.
The bulls are now back in full control after most of the important economic reports this past week came out better than expected and the indexes were able to make new highs convincingly. In addition, it was once again stated by Bernanke that the Fed is not planning on cutting down Stimulus anytime soon, meaning that the bulls have "their cake and are eating it as well". With no economic or earnings reports of consequence due out this week, the bulls are likely to feast since the bears have no reasons to be aggressive sellers at this time.
Traders are likely to continue to push higher but reluctance to buy at these lofty levels has been seen as of late and as the indexes go higher that feeling is likely to increase, suggesting that further upside will be seen but it will be labored and slowly accomplished. It is not a seasonal tendency but there have been a 6 occasions in the last 15 years that the indexes found an important high somewhere between July and October with most of those being in September, meaning that there is some reason to believe that within the next few weeks that a top will be found.
For this week though, it will all likely be rosy for the bulls with new all-time highs made, likely most every day. Any deviation from this outlook though, would be a cause for concern for the bulls.
|
Stock Analysis/Evaluation
|
CHART Outlooks
It is expected that further upside will be seen in the marketplace during the next 1-3 weeks. Nonetheless, upside momentum is starting to slow down and it is likely that the upside is limited. On the other side of the coin, when a top is found the subsequent drops in price are likely to be strong, meaning that sales have a better profit potential than purchases.
By the same token, it will likely take patience to achieve the desired entry points into short positions, meaning that trades may not be found easily at this time.
PURCHASES
AMT Friday Closing Price - 70.50
AMT is a stock that had been on a meteoric rise being the largest operator of cellular towers in the world and the cellular phone use continuing to expand. Nonetheless, the company was recently accused of improper accounting (see enclosed link to article: AMT and the stock took a nosedive from a high of 85.26 seen on May 21st to a low of 69.54 seen just 1 month later. For the past 6 weeks the stock has been extremely volatile having seen a rally up to 78.33 and now a drop back down close to the 69.54 low seen in May. Fundamentally, opinions on this stock run the gamut from strongly bullish to strongly bearish and it is difficult as of this writing to choose a direction fundamentally.
From a chart points of view only, AMT is at an important level of support at $70 that goes back 14 months to June 2012 and therefore a level where a purchase can be considered based on the fact that the risk is small and the profit potential high. In addition, since the initial allegations of improper accounting came out there has been no additional tangible news to link the stock to lower prices than the low prices already seen 6 weeks ago.
To the downside, AMT shows 4 previous intra-week lows between 68.65 and 69.54 that go back to July 2012. On an actual weekly closing basis, support is found at 69.44. It should also be mentioned that the 100-week MA is currently at 69.25 and that line has not been broken since September 2009, meaning that it is a level that will stimulate decent to strong buying by chart traders and not likely to be broken unless further fundamental negatives come out.
To the upside, AMT does show minor to decent resistance at the 50-week MA, currently at 75.90, which does include 2 previous intra-week highs of minor to decent consequence at 75.62 and at 76.22. Rallies up to $76 are highly likely to be seen if the support level holds up this coming week. Further resistance is found at the previous high of consequence seen a few weeks ago at 78.33 that is not likely to be broken unless some of the negative allegations are proven false.
With so much uncertainty around AMT right now, but no assurance of malfeasance yet known, there is a good possibility that the stock will trade within the parameters mentioned above for the next few weeks. With the stock trading now at support, a purchase would be the thing to do. Either way, whatever trade is done (buy or sell), the probability rating is low on either side.
AMT did close on the lows of the week on Friday and further downside below last week's low at 69.73 is expected to be seen this week, likely taking the stock down to the low 69's level where purchases can be considered that will offer small risk.
Purchases of AMT between 69.30 and 69.70 and using a stop loss at 68.55 and having a 75.90 objective will offer a 7-1 risk/reward ratio.
My rating on the trade is a 2.75 (on a scale of 1-5 with 5 being the highest).
SALES
GPS Friday Closing Price - 46.48
GPS has been on a strong up-trend for the past 23 months having rallied from a low of 15.08 to last week's high at 46.56. The stock has had 2 small corrections and 1 decent correction during this run up with stock increasing its rate of ascension since the last correction seen at the end of last year when the stock corrected back down to the 29.84 level from a high seen in October at 37.85. Since that date, the stock has gained 155% of the 302% gain seen since September 2011.
GPS is showing 7 months in a row of green closes and is now mimicking the largest run of monthly green closes ever seen in the stock which happened from 1998 when the stock ran from a low of 20.17 to a high of 51.57 before generating a strong correction back down to 39.35. The all-time high in the stock was seen in February 2000 when the stock got up to 53.75 but it should be mentioned that the highest monthly close ever has been 50.37, suggesting that any rallies above the strong resistance there (both chart-wise and psychologically) will likely be sold aggressively.
GPS closed on the high of the day/week/month on Friday and further upside is likely to be seen this week with the $50 becoming a magnet that will likely draw the traders to continue buying the stock aggressively until that level is reached. The stock has only been generating weekly gains between $1.50 and $2.50, suggesting that the $50 level will not be reached this coming week but will be reached sometime this month. With the stock never having had 8 months in a row of green monthly closes, there is a decent probability that at the end of August the stock will close in the red, below last month's close at 45.90, which in turn would mean further downside the following month.
To the downside, GPS does not show any intra-month support until the 39.13/39.35 level is reached, making that price the trade's objective. It should also be mentioned that on an intra-week basis, the stock has moved straight up from 40.00 up to last week's high without even 1 week showing a lower low than the previous week, meaning that if resistance is found, there is no support on any chart that would stop the stock from dropping down to the objective mentioned.
Shorting GPS will require patience as the stock is not likely to be a short until the $50 level is reached and that may not occur for another 2-3 weeks. Nonetheless, based on the history of the stock and on the technical aspects of the recent rally, a short position will offer a high probability of success on any sale above the $50. Keep in mind though, that the $50 level is a monthly close resistance, meaning that the stock could actually rally all the way up to 51.57 or even the all-time high at 53.75 before turning south. Nonetheless, the probabilities do not favor any rally above 51.57 on this rally.
Sales of GPS between 50.00 and 51.57 and using a stop loss at 51.75 and having a 39.34 objective will offer a 7-1 risk/reward ratio.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
JNPR Friday Closing Price - 21.80
JNPR has been on a roll as of late having generated 7 green weekly closes in a row and 12 out of the last 15 weeks. The stock has rallied from a low of 15.62 seen the week of April 22nd to the previous week's high at 22.10. Nonetheless, the recent rally does not compare favorably with what the stock has done long-term and does suggest that the company continues to "lose steps" rather than gain upside.
JNPR is a stock that got up to 244.50 in the year 2000 and then fell all the way down to 4.15 in 2002. Evidently the company made some adjustments as the stock began a long-term rally that ultimately took it to a high of 45.01 seen in March 2011. Nonetheless, at that point the stock "lost a big step" with a drop down to 14.01, seen in July of last year which considering that the DOW has rallied 3000 points during that period of time does suggest the company is having some fundamental problems that are unlikely to be resolved any time soon.
JNPR has been on a sideways mid-term trend since March of last year showing 2 highs at 23.06 and at 22.98 and 2 lows at 15.77 and 15.62 . With the stock now in an overbought condition and "still" in a mid-term sideways trend with more probabilities of the downtrend re-starting due to the history of the stock, the probabilities favor taking a short position on this rally and letting the bulls prove that things have changed for the better.
To the upside, JNPR shows clear intra-week resistance between 22.98 and 23.06 which have been the highs seen over the past 19 months. . To the downside, the stock shows some minor support at the $20 demilitarized zone but then nothing until 18.05 is reached. Further and stronger support will be found at the lows seen the past 12 months at 15.77 and 15.62. The strongest support will be found at the low seen the 52 months at 14.01. Further support is found at 12.43.
JNPR seems to be a company that is attempting to recover from long term ailments but seems to taking more steps back than forward and only bouncing back to previous highs when things go well.
Sales of JNPR between 22.50 and 22.58 and using a stop loss at 23.16 and having an objective of 15.77 will offer an 9-1 risk/reward ratio. Even if the stock only goes down to the $20 level, which seems to be a high probability if the 23.06 high is not broken, it will still offer a 4-1 risk/reward ratio.
My rating on the trade is a 3.5 (on a scale of 1-5 with 5 being the highest).
MSFT Friday Closing Price 31.89
MSFT received a negative earnings report 3 weeks ago and the stock took a strong fall in price from a new 6-year high at 36.42 to a 3-month low at 31.02. In the process, the stock did generate a key reversal having made multi-year highs and then closing decidedly below the previous week's low, suggesting that further downside of consequence will be seen.
During the last 2 weeks MSFT has only been able to generate small inside weeks with green closes, most likely not continuing the downfall because the indexes have been moving up. The stock did close near the highs of the week and further upside above last week's high at 32.11 is likely to be seen this week. Nonetheless, the bounce is not likely to go much higher as there are few reasons after the negative earnings report for traders to be bullish. The $5+ spike down in price that MSFT experienced 2 weeks ago is likely to be duplicated at some point in time soon with the 200-day MA, currently at 28.15, as the objective.
To the upside, MSFT shows resistance at the spike low that was broken on the way down at 32.57 (33.26 on a daily closing basis) and from which the new multi-year high was made. Additional and important resistance is found at the previous high for the year at 32.95 (32.60 on a daily closing basis). Having broken support and given a failure-to-follow-through signal at the same time will make that level strong resistance, especially since the break of support came off of a fundamental piece of news.
To the downside, MSFT shows minor intra-week support at 30.23, which does include the 200-day MA, currently at 29.95, and a bit stronger intra-week support at 28.32, which does include the 200-week MA, currently at 28.20. As such, that level is a very viable objective that has a high probability of being reached. Nonetheless, the monthly chart does show that the stock is in a long term sideways trading range between $20 and $37.50 in which the lower level would be seen if the 200-month MA, currently at 27.90, is broken.
To the upside, MSFT shows a gap between 35.22 and 32.67 that is likely to be tested before further downside is seen, especially since the stock generated a green weekly close on Friday as well as a close on the high of the day. Retests of the gap area are very common and with the indexes likely to rally at the beginning of the week, the probabilities are high that the gap at 32.67 will be tested with a decent possibility of 32.95 being seen as well.
Sales of MSFT between 32.19 and 32.66 and using a stop loss at 33.05 and having a 28.40 objective will offer a 4-1 risk/reward ratio.
My rating on the trade is a 4 (on a scale of 1-5 with 5 being the highest).
|
Updates
|
| Monthly & Yearly Portfolio Results
|
Closed Trades, Open Positions and Stop Loss Changes
|
|
Status of account for 2007: Profit of $9,758 per 100 shares after losses and commissions were subtracted. Status of account for 2013, as of 7/1 Profit of $7933 using 100 shares per mention (after commissions & losses) Closed out profitable trades for July per 100 shares per mention (after commission)
QCOM (long) $359 AAPL (long) $3341
Closed positions with increase in equity above last months close minus commissions.
RIG (short) $30 Total Profit for July, per 100 shares and after commissions $5171 Closed out losing trades for July per 100 shares of each mention (including commission)
HRB (short) $93
AAPL (short) $182 LEN (long) $730 QCOM (long) $132 NFLX (short) $282 NFLX (short) $110 Closed positions with decrease in equity below last months close plus commissions.
HRB (short) $541 Total Loss for July, per 100 shares, including commissions $3170 Open positions in profit per 100 shares per mention as of 7/31
HPQ (long) $16 Open positions with increase in equity above last months close. SIRI (short) $78 KGC (long) $39 DCTH (long) $6 Total $165 Open positions in loss per 100 shares per mention as of 7/31
ELON (long) $11
Open positions with decrease in equity below last months close. FCEL (long) $30 Total $41 Status of trades for month of July per 100 shares on each mention after losses and commission subtractions.
Profit of $2125
Status of account/portfolio for 2013, as of 7/31Profit of $10058 using 100 shares traded per mention.
FCEL had another uneventful week with sideways trading being the norm. The bulls are faced with the formidable task of breaking the 200-week MA (currently at 1.58) that has not been broken to the upside for the past 5 years, as such the trading seen can be considered base building from which to launch a new attempt to the upside. Support for the week is at 1.21 and resistance at 1.34 and a bit stronger at 1.40. A break above 1.40 will likely cause the 1.58 level to be tested.
ELON has been under sell pressure since failing to break the 200-day MA, currently at 2.50, 12 days ago. Nonetheless, the bears have not been able to accomplish to break the support levels they were successful in breaking in the past even though the stock showed 9 days in a row of red or unchanged closes. Nonetheless, on Thursday the string of red closes was broken when the stock closed in the green, suggesting that the sell pressure is abating because of the inability to break the support at 2.19 (2.22 on a daily closing basis). The stock got up to the 50 and 100 day MA's, currently both at 2.33, this past week but the bulls were unable to punch through, leaving the stock in a small trading range between 2.22 and 2.37. A rally or a break above or below either of those 2 levels will likely generate additional movement in that direction. Probabilities favor the bulls as the bears have shown an inability to take the stock below these support levels for the last 2 weeks. SIRI made a new 6-year weekly closing high on Friday, closing 1 point above the high weekly close seen Nov07. Another green close next Friday will confirm the new breakout and suggest the stock will move up to the next area of minor to perhaps decent weekly close resistance between 4.10 and 4.26. The stock closed on the highs of the week and further upside is expected with the intra-week high seen the first week of December 2007 at 3.94 high as the objective. Weekly close support is now found between 3.58 and 3.60 but if the stock is able to get above 3.94, the 3.77 level will become the new support level. KGC generated a red close on Friday and near the lows of the week suggesting further downside will be seen this coming week. By the same token, the stock was able to bounce off of the 5.01 level up to 5.26 suggesting there is strong buying interest in the $5 demilitarized zone. Drops down to 4.97 could be seen this week but should continue to find strong buying interest there. A green close next Friday would suggest all the downside action is complete and that the stock will begin to work upwards toward the $8 upside objective. A rally above 5.70 (5.47 on a daily closing basis) would now be a buy signal. HPQ generated a new 18-month high this past week and did close near the highs of the week, suggesting further upside will be seen this coming week. There is no previous resistance above until 28.56/28.67 is reached and even then that resistance is 22 months old. The stock broke out of a bullish pennant formation this past week that does offer a 29.59 upside objective. Decent intra-week resistance above 28.67 is found at 30.00, which is not likely to be broken the first time around and from which a correction back down to the $25 level could be seen. JBL made a new 18-month weekly closing high, closing above a decent to perhaps strong weekly close resistance at 23.27 (stock closed on Friday at 23.38). The stock closed on the highs of the week and further upside is expected to be seen with a test of the 19-month intra-week high at 23.95 likely to occur. The stock did generate the 7th green weekly close in a row and the probabilities do favor a red close next week that could be indicative. In the past 4 years the bulls have been successful in generating 5 previous runs of 7 green weekly closes in a row and 1 run of 6, but in that period of time there has not been 1 single occasion where 8 weekly closes in a row were seen. A red weekly close next Friday, as well as the 23.95 intra-week high not getting broken, would create a double top on the intra-week and weekly closing chart, and it could cause a decent correction to occur, especially since no support is found until the $20 level is reached. OPEN was having a strong week up until the earnings report came on out Thursday afternoon that was disappointing and caused the stock to close 3.76 below the high of the week. The stock was able to close in the upper half of the week's trading range, suggesting that the report itself was not so bearish as to guarantee that no further upside will be seen. By the same token, the bulls were unable to generate a new 2-year weekly closing high, meaning that if the stock closes in the red next Friday that a bearish Head & Shoulders formation will have been built. The stock was able to rally off of the lows of the day on Friday to close near the high of the day suggesting the first course of action for the week will be to the upside. Resistance will be found at 68.70 and then again at Thursday's high at 70.87. Support is now important and likely pivotal down at 63.20. With the indexes likely to continue higher this coming week, the bulls will have a slight edge chart-wise speaking. Nonetheless, the earnings report was disappointing and may prevent the stock from going higher. Much will be known after the action on Monday. VHC was unable to generate much follow through off of the previous week's strong rally and close on the highs of the week. The bulls were able to produce a very minor green weekly close but "still below" the 200-week MA, currently at 19.30 (stock closed on Friday at 19.17), suggesting that the selling resistance at this level is high. Traders are awaiting further information regarding the patent litigations in process but no rulings are expected any time soon. A break below last week's low at 18.99 will likely bring in some selling and a probable drop down to minor support at 18.62, or at 18.20, or decent support at 17.13. A break above the week's high at 19.74 will likely bring about a rally up to the 50 and 100-day MA's, currently both at 20.90. The bulls have a slight edge because the stock is showing a possible bullish flag formation but the action this past week was disappointing and has left the door open for a small correction to be seen.
|
1) ELON - Purchased at 2.36. Averaged long at 6.593 (3 mentions). No stop loss at present. Stock closed on Friday at 2.26.
2) HPQ - Purchased at 25.50. Stop loss now at 24.96. Stock closed on Friday at 27.00.
3) FCEL - Averaged long at 1.34 (5 mentions). No stop loss at present. Stock closed on Friday at 1.22.
4) VHC - shorted at 19.30. Stop loss at 19.77. Stock closed on Friday at 19.17. .
5) JBL - Shorted at 23.02. Stop loss at 24.05. Stock closed on Friday at 23.39.
7) HYGS - Liquidated long positions at 12.90. Averaged long at 12.935. Loss on the trade of $7 per 100 shares plus commissions.
8) KGC - Purchased at 5.02 Averaged long at 5.20 (4 mentions). Stop loss now at 4.77. Stock closed on Friday at 5.10.
9) AAPL - Liquidated at 452.65. Purchased at 419.10. Profit on the trade of $$3355 per 100 shares minus commissions.
10) OPEN - Shorted at 68.36. No stop loss at present. Stock closed on Friday at 67.11.
11) AAPL - Shorted at 455.77. Covered shorts at 457.45. Loss on the trade of $168 per 100 shares plus commissions.
Previous Newsletters
|
Encyclopedia of Chart Patterns. A must have for chart aficionados! |
The opinions and commentaries by Mr. De Vito are not a recommendation to buy or sell, but rather
a charting guideline, based on his own knowledge and experience, regarding the stocks he is following or
that are brought to him by others. Mr. De Vito does not presently offer a track record of his trading experiences.
No inference of success and/or failure should be assumed. The
information enclosed above, regarding his background, length of trading, and experience, is correct
but is not meant to suggest, state, or infer any future success in trading, based on his opinions. The information herewith included should only be used by investors who are aware of the risk inherent in securities trading. Mr. De Vito accepts no liability whatsoever for any loss arising from any use of the information and/or comments he supplies. |
|
|
|