Archive for April, 2010

Illumina (ILMN) Looks Ready To Resume Uptrend

Illumina (ILMN) is trading over 40 this morning, after reporting strong earnings on Wednesday evening. The stock has been working its way back through a huge unfilled gap since last October, stalling at 40 in January and again in March.

A breakout above this resistance level opens the door to a vertical spike that carries price [...]

April 29, 2010 • Posted in: ALERT, TA • No Comments

Biotechs Issue Sell Signal

Gilead Sciences (GILD) got crushed after earnings on Wednesday, dropping nearly 10%, and bringing down the entire biotech sector. The iShares Nasdaq Biotech ETF (IBB), which had carved out a bullish consolidation pattern, broke two-month range support and triggered an interesting short sale signal.

The sector rollover follows poor price action in the last few weeks [...]

April 22, 2010 • Posted in: ALERT, TA • No Comments

Tape Reading Tells

Reprinted with permission from: The Master Swing Trader Toolkit
Alan S. Farley McGraw-Hill 2010. All Rights Reserved.
Tape Reading Tells
Experienced tape readers keep a collection of key observations tucked away in their brains, so they can act quickly whenever the tape cycles into analogous price action. This hodgepodge of personal [...]

April 9, 2010 • Posted in: Market Mechanics • No Comments

Ford (F) Setting Up A 2-3 Month Decline

Ford (F) has been one of my favorite stocks since the 2009 low. I listed it as one of three top picks for 2010 last December at TheStreet.com. I own the other two (IBM @99 and AAPL@191) and have been looking for the right time and price to buy F.

Sadly, that might have to wait [...]

April 5, 2010 • Posted in: TA • No Comments