May 27th 2009
Today in the Stock Market
Dear Fellow Trader,
Tuesday was that big move we needed to resume the uptrend. The real ignition this move has provided will be known only in the next few days, but normally a push like this in the face of some of the bad news (North Korea’s missiles, spending exploding from the governement) starts a move of many days…..
We will see if histroy will repeat itself.. ANd not to brag too much but TTNP is now almost 100% Up, and GRO did also very well yesterday
The 875 support level did resist very well. And yesterday’s move now has shown where we should go, but we also need to break this down trendline in blue on the chart, it will be around 922.
The Nasdaq also had a powerful day, in one day it erased about 3 days of down move, which is very, very good. And it shows that there is still some bullets left for the buyers…
And we do not see it on this chart, but that big day was done on an increase of volume over the last few days. (you can look at QQQQ chart to see the volume)
TTNP
Nothing else to say than WOW…Another 100% pick in 6 trading days. Congrats to those who joined on this one…
MDOR was still on our watchlist even if not mentioned here yesterday and got back in . And for those of you who watch the newsletter carefully, you wil remember that it came right into the buying zone i was talking about over 2 weeks ago….close to $0,75
SSLR is the same thing, on our watchlist and triggered yesterday. I hope that you all have a watch list with alarms to see them pop in real time.
VSTN too triggered yesterday, but you could still buy here or on weakness by averaging down…
UOMO first sign of reversal happened yesterday with this bottoming tail, around 0,25-0,27 area. So i started to buy some slowly and we will see if the short term downtrend is effectively turning.
GGWPQ is under chapter11 protection i think, but the trading looks good and by the chart’s look it could be ready for something so watch it.
HOT had a very good move yesterday and obviously with a good market like yesterday and it was one to move…Just remember there could be some resistance around 24 from that last peak in december, but i think most of the selling has been absorbed…
GRO kept going strong yesterday, we are up almost 55% on this one.
ITRI is a typical bullish flag, i wanted you to see it and i think it could move strong soon…
Finally keep an eye on FIG..
It never broke under this support line around $3,70 and it could be ready to go now..or soon.
Have a Great Trading Day !
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