Clockwork and others, please have a look at the following charts. Different timeframes of a Dutch company called ASMI.
I feel that if this daily bar remains an inside bar, there is a golden opportunity to short if it breaks below the previous day's low.
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Without knowing much about the company, I would say that your analysis is reasonable. I like the fact that it is at a major resistance point, and the world seems a little skittish at the moment about anything risk-related. (including stocks) I also like the fact that your stop loss could be really tight as well.
Also, I am still pissed off about the Dutch losing the WC finals.....so I would short it out of spite. Just be careful you don't get "DeJonged".
PS - Just looked again.....if you get stopped out, look at the larger "head and shoulders" like pattern. It could be saying it has a target of about a 5 EUR gain as well. Just keep in mind that you can make a loss a larger gain if you are vigilant and pay attention.
For those of you that have been following the blog, I mentioned this the other day. The SPY (SP 500 ETF) had an inverse head and shoulders. I bought calls this morning again, and am happy. This is the third time I have bought calls since the original break out, all have made money so far.
My arguments for a weak dollar are not limited to the printing of money (which might be overblown, but still has been significant). Instead, the current account deficit is enormous, and keeps growing, while at the same time the world - countries, as commercial institutions - are showing less interest in buying US debt and assets. If the capital account surplus falls, then the current account deficit must decline as well (because balance of payments has to be in balance)- the mechanism through which this happens is a depreciation of the dollar....
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I think a lot of Europeans are about to see their socialist dreams crashed. They will be trading in their 30 hour work weeks, with 6 weeks of paid vacation a year and spending more time at the beach than at work for the life of the average American.
Not that I like seeing the ultra wealthy gain more and more, while the little guy gets screwed more and more, but that is what will happen.
There is a good reason the ultra wealthy support an ever expanding govt. They own both political parties in the USA, and have created a worker class that one can barely escape from.
It will be interesting to see how the Europeans respond to all of this. Here in the USA it has been very interesting.
I think a lot of Europeans are about to see their socialist dreams crashed....
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I would say it devolved into "My gang (political party) is better than yours!"
I mean, Bush was bad.....so we got "Hope and Change"......which of course means the same thing essentially. Gitmo is still open. We are in three armed conflicts, not two. The deficit is a friggin' joke. (We have yet to see a budget that would actually CUT SPENDING. As if the whole concept is that difficult.) The economy is still shit for the rest of us. Bad room deals in the Congress with 2,500 page bills being introduced with only a couple of hours for people to read them.
It is astonishing how much contempt the political class has for the rest of us.
I've been looking at the EU but in all honesty I don't think I've made my mind up on it quiet yet...
However, this one tends to look more solid, maybe because it does not involve the US directly
Anyone else watching this pair?
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Agreed. And to be honest, there are central banks sitting below there, waiting to help you out if the market falls too far. This chart caught my eye as well!
Maybe now someone at the IMF will finally know what some of their policies feel like. They take a special kind of fondness to rapists in American prisons.
August will be an interesting month if the US debt ceiling is not raised
I can only imagine the outcome, best have my trigger finger ready
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Honestly, there is no way in hell these morons would dare not raise the ceiling. When you here "spending cuts" in the US, that simply means not raising the spending by as many percentage as the year before. From what I have seen, the Congress has never actually "cut" spending.
Hey Chris, not sure if you saw or not but C did a reverse 10:1 split late last week. I didn't even know until I got a note in the mail from Edward Jones.
I am guessing this is not a good move, as they will allow C to drop further without it making them look as bad to new investors. I am sure they did this to get interest from new investors (a stock stuck under $5 for so long looks very unattractive).
Any thoughts on this? I am holding for now, I just never expected this move.
Hey Chris, not sure if you saw or not but C did a reverse 10:1 split late last week. I didn't even know until I got a note in the mail from Edward Jones.
I am guessing this is not a good move, as they will allow C to drop further without it making them look as bad to new investors. I am sure they did this to get interest from new investors (a stock stuck under $5 for so long looks very unattractive).
Any thoughts on this? I am holding for now, I just never expected this move.
Thank you,
T.J.
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I knew about it when they announced it. I did adjust my position size accordingly, as I didn't think it would work. (It didn't so far.)
Yea, I am surprised by it all. I just see the 10:1 reverse split as bad news for a long term hold. I am thinking about selling all my shares and putting that back into mutual funds due to the split.
Do you think this is over reacting, or does the 10:1 split really change the outlook for the long term growth of this stock?
Yea, I am surprised by it all. I just see the 10:1 reverse split as bad news for a long term hold. I am thinking about selling all my shares and putting that back into mutual funds due to the split.
Do you think this is over reacting, or does the 10:1 split really change the outlook for the long term growth of this stock?
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I am not sure to be honest - I just know that the math works out the same. I mean, you have 1 share that is worth 10 times more than it used to be - but only 10% of your original position size as far as quantity. As far as I can tell - in the long run it doesn't matter.
I am not sure to be honest - I just know that the math works out the same. I mean, you have 1 share that is worth 10 times more than it used to be - but only 10% of your original position size as far as quantity. As far as I can tell - in the long run it doesn't matter.
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I just have a bad feeling that the reason C did it, is they started to lose faith in their own stock and gave up on it being a cheap buy at under $5.
So they did the 10:1 split to draw more interest from traders with the price being more respectible.
I don't know, long term hold, so time to wait and see.
Update on the USD/CAD. Keep in mind, the oil markets saw significant buy at the $95 support area, and the bar is inverse of this one.....which makes sense. The blue moving average line is a 100 day, which I did for my TA gig......don't normally follow these averages, but plenty of people do. If we fall from here - we could continue the trend.
