March 23, 2011

$EOG Cup & Handle

The first technical entry was at 108.00. Since I missed that entry I will have to wait for it to clear 115.25 or if it pulls back I would enter on a pull back to 10/21d moving averages.

When you make a trade, "you should have a clear target where to sell if the market moves against you. And you must obey your rules! Never sustain a loss of more than 10% of your capital. Losses are twice as expensive to make up. I always established a stop before making a trade." -J.L.

$FCX Ripping thru 50dma

FCX breaking out from this descending channel. Looking great and ready to retest recent highs around 61.50. Near term measured move is to 61.50 and longer term to about 80.00 +/-

On the 30 minute chart you can see the double bottom near 46.00 and the volume ramp showing demand at 46-47 level as well as volume ramping as it cleared 53.50.

I absolutely believe that price movement patterns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans -- and human nature never changes. - J.L.

FXE - Weekly

$LULU - 50d providing a lot of support

Will look to enter on a break of this descending trend line. 

$APC - Nearing all time highs

Would love to see volume surge when i clears 83.00. When/if it clears 83.00, 95/100 is my first target price. 

The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get rich-quick adventurer. They will die poor. - J.L.



$DE resting right on 50dma

DE set up to retest highs. It broke out of it's descending wedge on 3/18/11.

$WLT 30min Cup $ Handle

Long at 120.75. Stop is at 119.50. Target is roughly 126.00. Which falls in line with the gap fill from 3/7/11.
She Likes the Cup and Handle too...

$WLT to 190-200.00

WLT has been been basing for almost 4 months now. I am looking to enter on a break out of this descending channel and will add above the highs of the channel. Roughly looking for a move to $190.00 to $200.00. Measuring the move from 60.00 to 140.00 from 110.00 to 190.00.