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Issue #396 
October 5, 2014 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Volatility and Weakness Increases Probabilities Top for Year Established!
DOW Friday closing price - 17009
On a weekly closing basis, the DOW ended up having an uneventful week as the index did not break any support levels and on Friday ended up still closing above the 17000 demilitarized zone. Nonetheless, on an intra-week basis the bears were mostly in control the first 4 days of the week and several support levels were broken, putting the index at risk of giving a convincing sell signal on the weekly chart if the index had not rallied on Friday. The index closed in the upper half of the week's trading range and further upside above last week's high at 17145 is likely to be seen this week.
The DOW ended up having a 471 point trading range, which was higher than the previous week's 401 point trading range and was the highest trading range since the 619 points range seen the last week of July. It should also be mentioned there have been only 2 other trading ranges in the past 41 weeks that exceeded last week's trading range and in both of those cases the index closed on the lows of the week but then within 2 weeks generated a turn around that carried the index to new all-time highs. The fact the index closed near the highs of the week this time does suggest this might end up being the exception, meaning no new all-time high will be made.
It should be mentioned that the 200-day MA in the DOW is currently at 16575 and having seen only a low of 16674 this past week it cannot be said the line was successfully tested, which in turn opens up the door for the line to be visited sometime in the next couple of weeks. It could end up meaning Friday's rally and likely further upside this coming week will encounter selling interest of consequence as the rally goes above last week's high and ends up becoming the needed and required retest of the highs before more aggressive profit taking and selling is seen.
To the upside, the DOW will show resistance between 17151 and 17161, then minor at 17226, and strong at the all-time high at 17350. To the downside, the index will show support at 16937 and then nothing until the 16703/16746 level is reached. Further support will be found at 16674 and then nothing until 16333 is reached. The 200-day MA is currently at 16575 and should show support, but then again on a closing basis.
The action in the DOW this past week did expose "a chink in the armor of the bulls" as intra-week support levels of some consequence were temporarily broken, meaning that the previously aggressive buying of dips, as has been seen often during the past 5 years, was not as much in evidence now as it has been in the past. This does suggest the index has found a top and that a correction of consequence is likely on the immediate horizon after a retest of the highs is done.
The DOW is likely to see some follow through this week to the rally seen on Friday with 17151/17161 as the upside objective. Nonetheless, if the bulls fail to get above the resistance at 17226 and then proceed to break below 16937 thereafter, the probabilities of a move down to the 200-day MA, currently at 16575, will be high.
NASDAQ Friday closing price - 4475
The NASDAQ gave a failure to follow through signal this past week on both the daily and weekly closing charts, having generated 3 daily closes in a row as well as a close on Friday 10 points below the previous 14-year high daily and weekly close at 4485.
The NASDAQ closed in the upper half of the week's trading range, suggesting that at least on an intra-week basis the index will go above last week's high at 4522 and generate the needed retest on the weekly chart of the double top and 14-year high at 4610. Nonetheless, having given several sell signals on the daily chart and given the failure to follow through signal on the weekly chart, the probabilities now favor the bears, at least as far as a temporary top for the year having been set.
It does need to be mentioned that with the exception of FB once again, all other major stocks in the NASDAQ have either given sell signals as well, or have weakened charts that point to a downside result.
To the upside and on a weekly closing basis, the NASDAQ now shows resistance at 4485 and decent resistance between 4579 and 4582. On a daily closing basis, resistance is also found at 4485 but not as strong as on the weekly closing chart. Further resistance is found between 4512 and 4518 that will be difficult to break. Additional daily close resistance that is likely pivotal as well will be found at 4555. Strong resistance is found between 4591 and 4598.
To the downside, the NASDAQ will show minor daily close support at 4466 and minor to perhaps decent at 4422. Below that there is minor support on a closing basis at 4362 and then decent and pivotal support at 4334.
The NASDAQ has not yet generated a retest on the weekly chart of the double top at 4610 or a good retest of that same high on the daily chart, suggesting that upside this week above 4522 will likely turn out to be exactly that, a required retest of the high before a decent end-of-the-year correction occurs.
It should be noted that the NASDAQ gapped up on Friday between 4441 and 4445 and then proceeded to go higher and close on the highs of the day. If the gap is not closed early in the week and the index gets above last week's high at 4522, the gap will become a magnet as well as a strong reason for the bears to short the index as the chart to the upside will be fulfilled, having generated the needed retest of the double top.
It should also be noted that if the scenario mentioned above in the NASDAQ does get fulfilled, the chart will be showing a Head & Shoulders formation with the left shoulder at 4485, the head at 4610, and the right shoulder becoming whatever high is seen this week. The neckline will be the line drawn between the August low at 4321 and Thursday's low at 4367 that if broken would offer an objective of 4124.
The NASDAQ chart does suggest that at some point before the end of the year that the index will drop down to at least the 200-day MA, currently at 4295, or down to the 50-week MA, currently at 4240. It should also be noted that the index in 2012 had an 8% correction and an 8% correction from 4610 would place the index down at 4240 as well.
Probabilities this week favor further upside in the NASDAQ with an objective anywhere from 4523 to 4557 and then some weakness before the end of the week and a close in the lower half of the week's trading range and likely at or below 4485.
SPX Friday closing price - 1967
Of all the indexes, the SPX did the most damage to the charts this past week, starting with the fact that a sell signal was given on the weekly closing chart on Friday, as well as confirmation of the failure to follow through signal given the previous week when the index closed 3 points below the previous all-time high weekly close at 1985. In addition, a second sell signal was given on the daily closing chart, suggesting that the all-time high daily close at 2011 is likely to be the top for this year.
The SPX, like the other indexes, has not yet tested the high seen this year and having closed in the upper half of the week's trading range the probabilities favor further upside this week above last week's high at 1985. Nonetheless, with the previous all-time intra-week high at 1991 and the strong psychological resistance of the 200 level, the probabilities of the bulls accomplishing enough to generate new buying in order to resume the uptrend is low.
To the upside, the SPX will now show some minor resistance at 1985 and a bit stronger at 1991. Further resistance will be found at 2000 and then at 2011. Strong resistance is found at 2019. To the downside, support should be found at the 1950/1955 level and then stronger at 1925/1926. Strongly pivotal support is found at 1904, which includes the 200-day MA.
The SPX chart almost has to be considered the most negative or most telling of all the other indexes, inasmuch as the index made a new all-time high 2 weeks ago and yet gave it all up "and" also gave a now confirmed sell signal on both the daily and weekly chart in the process.
The SPX is likely to move up to the 1991 level this coming week but will likely experience strong selling interest trying to get up to 2000 and even more so above 2000. A failure to get above 1991 would be a sign of weakness that would likely bring in a new round of selling to the downside, especially if the index is unable to close above 1985 on a weekly or even a daily closing basis. Expect strength at the beginning of the week and weakness toward the end of the week.
The indexes showed a lot of weakness this past week but were able to turn it around at the end of the week, suggesting once more that buying dips continues to be "in vogue". Nonetheless, the bears are starting to show additional strength on these fallbacks which in turn suggests the bulls have begun to "lose a step" and that the high for the year may be set.
Volatility has not only increased but has been somewhat the constant over the past 2 weeks, also suggesting that some kind of top to the uptrend, at least for this year, may be in place.
The traders attention is now going to shift to the earnings reports that start on Wednesday when AA reports. Nonetheless, the economy has showed signs that it has topped out for the year and that could mean earnings will disappoint more so than stimulate. In addition, expectations continue to increase that the Fed is now considering an exit strategy for the Stimulus program for next year and if that gets confirmed on Wednesday, it could be a catalyst that the bulls will be unable to overcome.
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Stock Analysis/Evaluation
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CHART Outlooks
The volatility and selling seen this past week has increased the probabilities that the high for the year in the indexes has been found. Nonetheless, the late rally at the end of the week does suggest that at the beginning of the week the indexes will rally, at least through the FOMC minutes on Wednesday. Such a rally should be used to institute short positions.
All mentions this week are sales though in all cases the stocks mentioned need to rally to reach the desired entry points.
SALES
LEN Friday Closing Price - 39.85
LEN for the past 2 years has traded sideways between 30.90 to the downside and 44.40 to the upside. In addition, for the past 11 years the $40 level has proven to be a pivot point that more often than not has caused the stock to move down than up.
LEN is presently showing a double top on all charts (daily, weekly, monthly) at 44.40 that has now been tested successfully twice with a high at 42.67 seen the last week of June and the 41.97 high seen 2 weeks ago, suggesting that if the overall market is heading into a corrective phase that the probabilities are high the stock will be heading back down to test the 30.90 low seen in August of last year.
LEN generated a reversal week this past week, having gone below the previous week's low and then closing in the green and on the highs of the week, suggesting further upside above last week's high at 39.90 will be seen this week. Such a rally should cause the stock to get up to the desired entry point where the stock can be shorted.
To the upside, LEN will find resistance at the top of the $40 demilitarized zone as well as at 40.44 and if that level is broken further resistance will be found between 41.27 and 41.57. To the downside, the stock will find decent support between 38.11 and 38.14. Below that level, further support is found at 37.27, at 36.41 and the strongest support is at 35.73. Nonetheless, on the weekly chart, the supports are found at 37.32, at 36.40 and at 35.73 and then nothing until 30.90 to 32.15 is reached.
LEN 10 weeks ago broke through all the mentioned supports when it dropped to 35.73, suggesting that if the stock is to correct with the indexes that all of those supports will be broken, in addition to the one at 35.73 that shows no previous history of support other than the one generated 10 weeks ago.
It should also be mentioned, that the probabilities now favor LEN heading lower on its own chart due to the double top and now 2 successful retests of it.
Sales of LEN between 40.18 and 41.56 and using a stop loss at 42.07 and having a 30.90 objective will offer a 4-1 risk/reward ratio. If a more secure stop loss is desired, use one at 42.77 though the risk/reward ratio will drop down to 3.5-1. If the stock gets above 40.44 at the beginning of the week, I would suggest waiting to short the stock between 41.03 and 41.56. The risk/reward ratio will get better but the probability rating will remain the same.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
BIDU Friday Closing Price - 219.02
BIDU got over the 200-week MA back in July of last year and proceeded to more than double in price, having gone up from $88 to the all-time high seen just 4 weeks ago at 231.40. Nonetheless, for the past 9 weeks the uptrend has stalled having made a high of 229.60 the last week of July and only increasing that high by $1.80 over the subsequent 8 weeks, suggesting the buying interest has waned and also suggesting that a correction of some consequence is now likely to occur.
BIDU has shown quite a bit of volatility the past 5 weeks having had weekly trading ranges of $16, $13, $23, $11 and $15 respectively and in the process having built a double top with a high of 231.40 on September 3rd and a high of 231.41 on September 19th, all signs of stock ready to correct.
BIDU made a new 10-week low this past week, having broken below the previous low at 208.35 with a low of 207.10. Nonetheless, there was no follow through to the new low and the stock reversed to close near the highs of the week, suggesting that the stock will go above last week's high at 222.54 and up to the desired entry points into the short trade. With no retest of the highs yet having been seen, a rally above 222.54 would be seen as a retest, making it possible for the traders to have more faith in taking profits or going short.
To the upside, BIDU shows intra-week resistance at the July high of 229.60 but also shows resistance at the high weekly close seen the week previous to that high at 226.50. Such a rally to either of those 2 levels could be seen as the needed retest of the high. To the downside, support is found at 210.10, at 208.53 and at last week's low of 207.19. Below that level there is no support found until the previous all-time high weekly close at 182.04. That level is further supported by the 50-week MA that is currently at 178.50.
Sales of BIDU between 226.49 and 229.70 and using a stop loss at 231.51 and having an objective of 182.04 will offer a 9-1 risk/reward ratio.
My rating on the trade is a 3 (on a scale of 1-5 with 5 being the highest).
PWRD Friday Closing Price - 20.44
PWRD has built a bearish Head & Shoulders formation on the weekly chart with the left shoulder at 22.82, the head at 26.24 and the right shoulder at 23.49. The neckline is at 16.45, which is also where the 200-week MA is currently located. A break below 16.45 would offer a 6.65 downside objective. Nonetheless, that objective seems a bit too much, but a drop down to the $10 level could easily be seen if 16.45 is broken.
PWRD is now showing 2 successful retests of the 26.24 high with the 23.49 high as well as the high seen 5 weeks ago at 22.46, suggesting the stock is now likely to head lower for the next couple of months.
PWRD generated a positive reversal week, having made a new 2-month low at 19.33 and then closing in the green and in the upper half of the week's trading range, suggesting further upside above last week's high at 20.90 will be seen this week.
PWRD has been straddling the 200-day and 50-week MA for the past 2 weeks, both currently between 19.90 and 19.80, but with the green weekly close on Friday, both lines have now been tested successfully, suggesting the bulls will once again try to re-test the previous highs this coming week.
To the upside, PWRD shows minor resistance at 20.99 that also includes the 50-day MA, currently at 20.90. Further and stronger resistance is found at 21.90 and then the recent successful retest of the high at 22.46.
To the downside and below the 200-day MA, PWRD shows quite a few supports on the daily chart starting at 19.24 and then each about 50 points lower until the stronger supports are found between 16.45 and 17.50. Nonetheless, on the weekly chart there are only 3 supports found before the 200-week MA is reached, at 18.34 and at 17.69 and at 17.05. It should be mentioned though that all those supports are considered minor. It should also be mentioned that below 16.26 there is absolutely no support until the $10 level is reached.
This mention will be mostly based on PWRD getting back down to the 200-week MA but the H&S formation built over the past 15 months looms ominously over the stock and if the neckline is broken, the $10 level is likely to be reached.
Sales of PWRD above 21.50 and using a stop loss at 22.56 and having a 16.45 objective will offer a 5-1 risk/reward ratio.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
AXP Friday Closing Price - 87.16
AXP had been on a very strong uptrend that stated in March 2009 from 9.71 to the high seen in July at 96.24. Nonetheless, 3 months ago the stock topped out, having built a double top at 96.04/96.24 and giving a clear reversal signal on the weekly chart with a new all-time high and a close that week below the previous week's low, in addition to breaking and closing below the 200-day MA, currently at 89.65.
AXP broke the 200-day MA on July 31st and for the past 2 months the line has acted as a strong resistance level as the bulls have only been able to trade above the line on 6 of the last 40 trading days and even on those days it has not been by more than $1.
AXP is now showing a bearish inverted flag formation with the flagpole being the drop from 96.24 to 85.75 and the flag being the trading range between the low seen last week at 85.05 and the 90.68 high seen 3 weeks ago. It should also be mentioned that the week the stock got up to 90.68 it had a positive reversal week and closed near the highs of the week suggesting that 2 weeks ago the stock should have continued higher. Nonetheless, the bulls were unable to generate further upside as the stock closed in the red last week and made a new low this past week at 85.05, suggesting that the bulls had their chance to invalidate the negatives but failed.
AXP made a new 6-month intra-week low this past week but no follow through to the downside was seen as the bulls were able to generate some buying interest to close in the upper half of the week's trading range and keeping the weekly close above the previous 6-month weekly closing low at 86.47. The stock should go above last week's high at 88.32 this week and at least up to the 50-week MA, currently at 88.75 and perhaps on an intra-week basis up to the $90 demilitarized zone.
To the upside, AXP shows minor resistance at 88.32 and again at 88.82 and then nothing until 90.22 is reached, which does include the 200-day MA, currently at 89.75. To the downside, minor support is found at 86.88 and a bit stronger at 85.75. Further support, is found at 85.05, at 83.99, at 82.77 and then nothing until the $80 level is reached. Objective of this trade will the previous all-time high weekly close at 78.33 that also includes the 100-week MA, currently at 78.30.
Sales of AXP between 89.70 and 90.21 and using a stop loss at 91.35 and having a 78.33 objective will offer a 7-1 risk/reward ratio.
NFLX Friday Closing Price - 459.54
NFLX has increased in value over 900% in the past 2 years and 163% just in the last 5 months but did see some decent selling come in 5 weeks ago when the stock first approached the $500 level with a rally up to 489.20. With the indexes likely to have found a top for this year, the probabilities do not favor the bulls being successful in getting to $500 until next year and therefore a correction back down to the 50-week MA, currently at $400 is likely to be seen over the next few weeks.
Nonetheless, NFLX did generate a positive reversal this past week, having made a new 8-week low and then closing in the green and above last week's high at 456.95, in addition to closing on the highs of the week, suggesting further upside above last week's high of 460.60 will be seen this week.
To the upside, NFLX does not show any resistance on the weekly chart until the June high at 475.87 is reached (472.35 on a weekly closing basis). Further upside is found at the all-time high of 489.20 (479.19 on a weekly closing basis).
To the downside, very minor support is found at 445.60 and then nothing of consequence until last week's low at 437.29 is reached. Below that level, there is no support until the August low at 412.10 is reached, which does include the 200-day MA, currently at $410, and 50-week MA, currently at $400.
The short trade in NFLX is only based on the probabilities that the indexes have topped out for the year and therefore that the stock may have topped out as well, leaving the attempt at $500 for next year. With the stock still in a strong uptrend, the probability rating will be lower than it would otherwise be, especially since the stock has not yet given any kind of sell signal. Nonetheless, with a stock that has appreciated so much over the past 2 years, it would be safe to assume that some year-end profit taking will be seen.
Sales of NFLX between 472.22 and 475.86 and using a stop loss at 490.35 and having a 400.00 objective will offer a 4-1 risk/reward ratio.
My rating on the trade is a 2.75 (on a scale of 1-5 with 5 being the highest).
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Updates
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| Monthly & Yearly Portfolio Results
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Closed Trades, Open Positions and Stop Loss Changes
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Status of account for 2007: Profit of $9,758 per 100 shares after losses and commissions were subtracted. Status of account for 2014, as of 8/1 Profit of $25337 using 100 shares per mention (after commissions & losses) Closed out profitable trades for September per 100 shares per mention (after commission)
EDC (short) $9 CAT (short) $512 MELI (short) $1117 Closed positions with increase in equity above last months close minus commissions. LVS (short) $866 Total Profit for September, per 100 shares and after commissions $2504 Closed out losing trades for September per 100 shares of each mention (including commission)
AKS (long) $35
NFLX (short) $198 RECN (long) $123 OXY (short) $79 CAT (long) $131 CAT (long) $5 Closed positions with decrease in equity below last months close plus commissions.
MELI (short) $105 Total Loss for September, per 100 shares, including commissions $2722 Open positions in profit per 100 shares per mention as of 9/30 DLTR (short) $122 Open positions with increase in equity above last months close. NONE Total $122 Open positions in loss per 100 shares per mention as of 9/30
ENG (long) $21
FLSR (long) $617 Open positions with decrease in equity below last months close.
SIGM (long) $106 Total $1592 Status of trades for month of September per 100 shares on each mention after losses and commission subtractions.
Loss of $1688
Status of account/portfolio for 2014, as of 8/31Profit of $23649 using 100 shares traded per mention.
AAPL had an inside week but a close in the middle of the week's trading range as well as slightly below the bottom of the $100 demilitarized zone (closed at 99.62). Nonetheless, the stock did not participate this past week in the weakness seen in the indexes, suggesting the probabilities "slightly" favor the bulls and the uptrend resuming. There is a strong double low on the daily closing chart at 97.99/97.87 that if broken would suggest a drop down to the $90/$91 level. Resistance, on a daily closing basis, is found at 100.75, at 102.64, and at the all-time high at 103.30.
AKS got down below the 200-week (currently at 7.77), the 200-day (currently at 7.68), and the 50-week MA (currently at 7.25) this past week but managed to rally off of an upgrade to close above the 50-week and just slightly below the 200-day and 200-week MA, suggeting that if any further upside is seen this week that all the breaks will be negated. The stock did close slightly in the lower half of the week's trading range but slightly in the upper half of the day's trading range on Friday, suggesting further upside will be seen at the beginning of the week, and above Friday's high at 7.79. A close in the green on Monday would be a positive and a close in the green next Friday a stronger positive. Minor resistance is found at 8.47 and support at 7.17. If support is broken, it would be a negative statement since an upgrade with a $10 objective was given this past week. On the weekly chart, no resistance is found until 10.33. DLTR tested the support level at $55 and reversed to close in the green and on the highs of the week, suggesting further upside above last week's high at 56.87 will be seen this week. Resistance continues to be decent to strong at the 57.40/57.42 level. A break above that level would suggest the $60 level will be tested. Support is between 54.67 and 54.99 that is broken would suggest a drop down to the $50 level. Probabilities favor the bulls. ENG got down to the pivotal support at the 2.00 level with a low this past week at 1.97. Nonetheless, the bulls were able to generate a bounce to close in the upper half of the week's trading range as well as near the highs of the day on Friday and further upside above Friday's high at 2.23, which is also the week's high , is likely to be seen. If the stock closes in the green next week, Friday's close at 2.16 will be considered a successful retest of the 200-week MA, currently at 2.06. Any daily close above 2.31, followed by confirmation the following day, would also negate the break of the 200-day MA, currently at 2.31. Probabilities slightly favor the bulls. FCEL broke below the 2.00 level (as expected due to the multiple lows in that area) and got down close to the 1.86 support level. The bulls were unable to close the stock above 2.00 and did close in the lower half of the week's trading range, suggesting further downside below last week's low at 1.895 will be seen. The 1.86 level is considered important and pivotal support and if it holds and the bulls are able to close the stock next Friday above 2.00, a double bottom will have been built and the uptrend would then likely resume. Resistance on the intra-week chart is found at the 200-day MA, currently at 2.19. A rally and close above that level would be a positive. Probabilities favor a drop down to 1.86 and a rally thereafter. FSLR generated another down week, the third in a row, to close once again in the red and in the bottom half of the week's trading range, suggesting further downside below last week's low at 62.16 will be seen. On a positive note though, the stock got down to the 200-day MA, currently at 63.00, and did generate a successful retest of that line with a green reversal day on Thursday and another green close on Friday, suggesting that if any further intra-week downside is seen this coming week that it will be limited and not likely to see any follow through. The 50-week MA is currently at 61.88 and that could be the downside objective if further downside is seen. The stock closed near the lows of the day on Friday and further downside below Friday's low at 63.87 is likely to be seen on Monday. If that occurs and the bulls are able to hold the drop to or above the 200-day MA and then turn it around and go above Friday's high at 65.07, no follow through to the downside on the weekly chart is likely to be seen. Probabilities favor some weakness this week but a reversal by the end of the week. GIGM generated a minor reversal week, having made a new 3 year low and then closing in the green and near the highs of the week, suggesting further upside above last week's high at .87 will be seen this week. It should be mentioned that the .80 cent level (.76 intra-week) is pivotal as that is the low weekly close for the past 12 years and a weekly close below that level would be a strong bearish statement. Resistance is found at .87 and then nothing until .94. A rally above .97 this past week would suggest the 1.00 level will be tested. Probabilities slightly favor the bulls this week but they need to get the stock above .87 in order to stimulate any new buying. SIGM generated a new 4-month low this past week but then reversed on Friday to close near on the highs of the week, suggesting further upside above 4.43 will be seen. The support at 4.04-4.09 held up with a low this past week at 4.07 and now with the reversal it can be said that a double low has been built using the 4.09 low seen on July 28th. Resistance is found at 4.45 and then again at 4.50 where the 200-day MA is currently located. Further but minor resistance is found at 4.63 and then a bit stronger at 4.79. If the bulls can generate a confirmed close above the 200-day MA, the probabilities of the stock getting up to the 5.00 demilitarized zone will increase strongly.
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1) SIGM - Averaged long at 4.82 (2 mentions). Stop loss now at 3.99. Stock closed on Friday at 4.40.
2) AKS - Purchased at 7.60 and at 7.23. Averaged long at 7.415 (2 mentions). Stop loss is at 7.07. Stock closed on Friday at 7.65.
3) FCEL - Averaged long at 2.227 (4 mentions). No stop loss at this time. Stock closed on Friday at 1.99.
4) MELI - Covered shorts at 107.22. Shorted at 118.53. Profit on the trade of $1131 per 100 shares minus commissions.
5) GIGM - Averaged long at 1.225 (2 mentions). No stop loss at present. Stock closed on Friday at .85.
6) ENG - Purchased at 2.03. Averaged long at 2.195 (2 mentions). Stop loss is at 1.78. Stock closed on Friday at 2.16.
7) SINA - Liquidated longs at 41.28. Loss on the trade of $2025 per 100 shares (4 mentions) plus commissions.
8) AAPL - Purchased at 98.47. Stop loss is at 97.62. Stock closed on Friday at 99.62.
9) DLTR - Averaged short at 56.523 (3 mentions). Stop loss now at 57.52. Stock closed on Friday at 56.87.
10) FSLR - Averaged long at 70.60 (2 mentions). No stop loss at present. Stock closed on Friday at 64.10.
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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. |
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