Tweet Things I like about FIRE chart: breakout of lengthy base with volume support of RSI 40 held low volume on pullbacks relative to volume on rise catalyst for breakout was earnings chart has remained above breakout candle

Tweet I used the opens strength to unload most of my shorts. We are in an area of support for TSX and Oil after what’s been a brutal time for commodities. I’m not a support/resistance trader but for those that are now may be a good time to initiate some new longs. I also don’t […]

19
Jun

Tweet A reader asked me what’s my take on crude. As of now we’re oversold but could continue down to where I’ve deemed a decent amount of support in the $29.50-30 range. The other scenario has crude rallying up to the $34-34.50 level where it would run into significant resistance. Bottom line: We are oversold but […]

10
Jan
stored in: Trend Trading and tagged: , , ,

Tweet The markets continue to behave very bullishly since the new year started with up day after up day with intraday corrections. It’s my hope that we pull back about 40 points on the Nasdaq, which would then set up some buying opportunities. Two new stocks I’m adding to my watchlist today are HNT SGMS. […]