Our most recent Charts to Watch articles
Harry Boxer - May 20, 2013
The stock market had a pretty interesting day on Monday. It was kind of sloppy, but a lot of stocks that we follow did well. The solar stocks were very strong. We’re going to stay with the longs for now, so let’s see what’s going on with them. Ambarella, Inc. (AMBA) has had nice movement. It had a strong move up Nov-Jan, pulled back through Feb, and then moved back up again.
Mike Paulenoff - May 20, 2013
As we speak, spot gold is up nearly $27, and has traded as much as $55 or 4.1% off of the overnight low at $1338.41. Most significantly, however, is the fact that the plunge in gold tested but did not violate the April 15 multi-year low at $1321.50. Instead, gold has reversed with power to the upside, and is confronting its prior recovery-rally peak at $1393.40 hit on May 16. If gold hurdles and sustains above $1393.
Mike Paulenoff - May 17, 2013
This morning's upside reversal in 10-year yield from 1.86% to 1.94% ended the correction off of Tuesday’s high at 1.99%, which failed to hurdle and sustain above the 2.3 year down trendline shown below (dashed line). However, both my near and medium pattern and momentum work argue that today's reversal initiated a new upleg within the maturing intermediate-term base pattern in 10-year yield.
Harry Boxer - May 16, 2013
The stock market showed some signs of weakness on Thursday, but it didn’t break yet. The stocks we’re following are still doing well, so let’s take a look at some of those. Aegerion Pharmaceuticals, Inc. (AEGR) went ballistic on Thursday, running to the top of the channel to the initial target, and then went crazy, up 14.73, or 32%, on 4.7 million shares. It started out in the high 40’s, ran up and wedged several times, formed a coiling-type pattern, and reached 63.
Mike Paulenoff - May 16, 2013
After plunging to new multi-year lows at 21.69, Silver Wheaton Corp. (SLW) has pivoted to the upside with power, and has climbed above 23.99 for an intraday-upside reversal of 6% so far. More significantly, however, is the prospect of a major-key reversal if SLW can climb and close above yesterday’s high at 23.13, which will represent a warning signal to the bears that the decline in SLW from last Nov high at 41.30 is over.
Mike Paulenoff - May 15, 2013
"The Tepper Rally" aborted the most recent pullback in its tracks at 13.95/92 off of the May 9 high at 14.26. Ford Motor Co. (F) now is screaming towards a full-fledged retest of its Jan high at 14.95, which if hurdled and sustained, should trigger upside continuation towards 15.60-16.00. Only a decline that breaks 13.92 will compromise the current technical set-up.
Harry Boxer - May 15, 2013
It was another interesting day for the market on Wednesday. There was an afternoon slide that looked pretty serious, but it came right back and closed positive. The technicals weren’t great, but nevertheless, the market keeps marching along, and until we get the break, we'll just keep plugging away at the long side, at least for now. Himax Technologies, Inc. (HIMX) is doing wonderfully. The major trend is up. The channel is up.
Harry Boxer - May 14, 2013
It is still a resilient market, and we’re still seeing a lot of stocks running. There’s no sense in focusing on the shorts just yet. There are some stocks that look negative, but at this point, until we see that break, we’ll continue to look on the long side. Aegerion Pharmaceuticals, Inc. (AEGR) has been one of our swing trades and one of our favorites since it broke out in Oct-Nov.