Apr 26
$PKI got hit today after disappointing earnings, triggering our stop after slicing through first support and even going as far as the 200-day MA. It had remained in a lengthy consolidation pattern since our entry but Friday’s move invalidated our rationale. We’ll exit at Monday’s open. As of Friday’s close we were -13.6% on the …
Apr 24
$ALXN has pretty much been straight down since our entry. We had a marginal break of that $91 area we cited before managing to climb back above it Tuesday, but in Wednesday’s session it performed poorly again finishing with a clean break to an 8-week low. In our entry post we stated such a move …
Mar 26
We’re adding a long in Corning ($GLW) to our portfolio this morning. This is a stock that doesn’t fit the pattern of many of our longs, it’s not already in an established long-term uptrend, but its price action on a short-term and intermediate basis suggests it could be in the early stages of a very …
Mar 15
This week we got stopped in MS China ‘A’ Shares ETF ($CAF) and St. Joe ($JOE), both of which we detailed here. We also added longs in HCA Holdings ($HCA) here, and Lululemon ($LULU) here. We currently have positions open in 25 stocks. As always we’ll go through the losers first, then the winners, highlighting any charts …
Mar 14
This is a bit more of a speculative long than we would normally take. I say that only in terms of its current position relative to its highs, as we normally like to buy something in a slightly more elevated position both short-term and long-term. Take a look at this daily chart of the last …
Jon Boorman, CMT, is a market technician, analyst, and trader with 25 years experience in global equity, forex, and futures markets. He employs trend following and momentum strategies to generate actionable trade ideas. More....
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