May 17
What a week this has been. What a month, what a year. This continues to be a great period for trend followers. Every day price just makes a nonsense of price targets and fundamental rationalizations. None of them matter. Price is the final arbiter of everything you do as a trader. This week we added a …
May 09
Two of our four utility longs have given us an exit signal tonight; Dominion Resources and Wisconsin Energy. We’ll be out at Friday’s open. As of Thursday’s close we were making 10.1% (incl div) on $D, and 8.6% on $WEC. Earlier this week we stated in our update Relatively Weak, Absolutely Strong that while there was no doubt …
Mar 04
I’ve liked Microchip Tech ($MCHP) for a while but it hasn’t given me the low-risk entry I was looking for, until now. Here’s the weekly chart where you can see the breakout it had from a huge descending triangle last month. Looking at the last six months in more detail on the daily chart below, you …
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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