Wednesday, December 13, 2006

Charts Indicate, Rebound?

S&P ,QQQQ Buy-Pressure are high enough to cause, hopefully weak, rebound. Good Trading

4 comments:

boris said...

Dear Readers, James may have been right yesterday about a pentup demand for a rally of sorts here.
Good Trading

Unknown said...

I really enjoy your blog and appreciate your willingness to help others.

I live in Australia and was looking for your opinion on some of the stocks I'm looking at.

(on Yahoo, AUS stock codes followed by .ax)
Namely IAG.AX and BNB.AX. I have a position in IAG which I'm looking to exit. (Does 6.2 look unreasonable given the recent bearish engulfing candle?)

I'm looking for an entry on retracement for BNB at 22.1 (or more aggressively at 22.5~.

Just of note, my positions usually last from 3 days to one or two months.

Thanks

boris said...

Dear Jebuskrite, Welcome from down under. In my eyes, Australia is up over...
While I prepare your answer... how did yuo find us.
Thanks Good trading

boris said...

Dear Jebuskrite, Thanks for your questions. I have following for you ...

BNB seems to have some more room left at 26. if it gets there strong and penetrates it furter move towards 30 is possible. I would go with your desire to enter on retracment, just use good short term approach and minimize the risk.
IAG seems to have hit a wall and retrace hard. Should have called me yesterday. 6.[12]x looks most reasonable, unless it rockets through it.

Thanks you . come again.
Good Trading