"Da-doo-ron-ron-ron, Da-doo-ron-ron".
Thursday, January 26, 2012
Netflix chart update
"Da-doo-ron-ron-ron, Da-doo-ron-ron".
Thursday, January 19, 2012
Joe Fahmy: Relative Strength Trading webinar
Great educational (and free) TraderInterviews.com video webinar with Joe Fahmy on trading high relative strength stocks in healthy markets.
Joe is one of my favorite trading follows on Twitter and we've also highlighted some of his blog posts and interviews here in the past.
So with that introduction, you should know that I'm posting this video because I've learned a lot about the stock market and trading from Joe in recent months. You'll probably walk away from this webinar with some knowledge that you can use in your trading as well.
Fahmy offers a quick summary of his general trading philosophy at the start of the webinar, then quickly launches into a discussion of his relative strength concept. You'll hear Joe explain why he looks for growth stocks that are emerging as leaders when the overall indexes are bottoming or consolidating. He also offers a few keys to successful trading and ends with a solid Q&A session with the webinar group.
Check it out, and be sure to follow Joe's blog and tweets at the links above.
Related articles and posts:
1. Trading psychology: interviews with Joe Fahmy & Phil Pearlman - Finance Trends.
2. Kirk Report interview + Q&A with Joe Fahmy - The Next Big Move.
Monday, January 09, 2012
Netflix melt-up and Google breakdown
Chart update on Google ($GOOG). After breaking out nicely above longer-term resistance near $645, $GOOG has spent the last few days giving back those gains and more.
Today we saw $GOOG open with a gap down at $646.50 and it quickly slid downhill from there, ending the day at $622.46 (-4.2%).
As Reuters reports, Google took a slide after Motorola Mobility ($MMI) warned of lower-than-expected earnings, which prompted worries over Google's entrance into the hardware side of the smartphone market via their Motorola acquisition. So we've gone from breakout to correction mode in just a few short days.
Meanwhile, Netflix ($NFLX) continued its recent melt-up, surging 13.8% higher today.
The market seemed excited about Netflix streaming services crossing the Atlantic to Britain and Ireland. Not to mention the short-covering rally that ensued. As the article above points out, $NFLX is up 40% in the first five trading days of the year - so much for dour 2012 predictions.
Look for a potential gap fill play back to $115 in the near-term. If Netflix can keep building momentum in their business through the first part of the year, maybe they'll be able to regain some share momentum and slowly heal the memory of last summer's DVD vs. streaming split debacle.
I've not been following Netflix closely in recent months, but I have been eyeing the chart in recent days and will continue to watch it here. You can hear more about their vision for the future in this Charlie Rose interview with Netflix CEO, Reed Hastings. We'll see if they execute.
Disclosure: I have no current positions in either $NFLX or $GOOG, nor have I had any position in either stock in recent weeks. Readers will be alerted to any future long or short positions I hold in individual equity names mentioned, if those positions are held at the time of writing.
Nothing here should be taken as a recommendation to buy or sell securities. These posts are strictly for educational purposes and a market journaling exercise. Thank you for reading.
Today we saw $GOOG open with a gap down at $646.50 and it quickly slid downhill from there, ending the day at $622.46 (-4.2%).
As Reuters reports, Google took a slide after Motorola Mobility ($MMI) warned of lower-than-expected earnings, which prompted worries over Google's entrance into the hardware side of the smartphone market via their Motorola acquisition. So we've gone from breakout to correction mode in just a few short days.
Meanwhile, Netflix ($NFLX) continued its recent melt-up, surging 13.8% higher today.
The market seemed excited about Netflix streaming services crossing the Atlantic to Britain and Ireland. Not to mention the short-covering rally that ensued. As the article above points out, $NFLX is up 40% in the first five trading days of the year - so much for dour 2012 predictions.
Look for a potential gap fill play back to $115 in the near-term. If Netflix can keep building momentum in their business through the first part of the year, maybe they'll be able to regain some share momentum and slowly heal the memory of last summer's DVD vs. streaming split debacle.
I've not been following Netflix closely in recent months, but I have been eyeing the chart in recent days and will continue to watch it here. You can hear more about their vision for the future in this Charlie Rose interview with Netflix CEO, Reed Hastings. We'll see if they execute.
Disclosure: I have no current positions in either $NFLX or $GOOG, nor have I had any position in either stock in recent weeks. Readers will be alerted to any future long or short positions I hold in individual equity names mentioned, if those positions are held at the time of writing.
Nothing here should be taken as a recommendation to buy or sell securities. These posts are strictly for educational purposes and a market journaling exercise. Thank you for reading.
Tuesday, January 03, 2012
Google breakout: chart update
Google broke out above some long-term resistance today. See the daily chart below.
Here's an updated weekly chart to show the longer-term view.
The stock had been trading in a rather wide sideways range between $450 (support) and its prior highs (resistance) near $645 since January 2010.
Today, $GOOG cleared that resistance level with ease, soaring to $665.41 by the day's close. Not a bad trick for the first trading day of the year.
Here's an updated weekly chart to show the longer-term view.
Today, $GOOG cleared that resistance level with ease, soaring to $665.41 by the day's close. Not a bad trick for the first trading day of the year.
Saturday, December 31, 2011
William Blake art from The Book of Urizen
William Blake etching with watercolor & ink (Tate collection).
Thursday, December 29, 2011
Lao Tzu on prediction
Those who have knowledge, don't predict. Those who predict, don't have knowledge. - Lao Tzu. $$
David Shvartsman
FinanceTrends
David ShvartsmanFinanceTrends
Tuesday, December 27, 2011
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