LDK: Short Interest

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gld

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Figures for 11/24

PTR: a good bull trap

GLD: does history repeat?

MSFT: long term chart

ISRG: A textbook chart maker

MSFT

Nasdaq: Daily

Nasdaq weekly

Dow

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Dow: Over sold

Dow

SPY: 11-07

SPY: Daily Chart

Dow: long term

Please click the graph to view the enlarged size.
This is a weekly chart for Dow. It's very clear Dow is still in the up trend channel. It is currently pulled back at the 38.2% level. Two weeks ago, it tested the 50% pull back level. It's very important to monitor the point of wave 2. The southest it can go is where the red arrow points at if Dow still wants to be bullish. This point has three major importances: 1. 61.8% pull back, 2. strong resistance, 3. up trend line. If this point is penetrated, then a bear market will be coming sooner or later. Otherwise, it will be another one to two years of bull market!

TA: DRYS and EXM

Click the figures to view bigger charts.
As the shipping sector is in a very nice up trend, the strategy here is to protect profits instead of finding an entry point or resistance level. I will only show 15 minutes chart in a 20 day range for DRYS and EXM. The first one is DRYS. This stock has a good up trend for several days and today it breaks down the up trend line. To be protective, the gap as indicated by the green area around $92 should be considered as a stop price.

This is a similar chart for EXM. EXM is having a harder time than DRYS. The up trend line is broken today too. There is also a gap above the current price level, which forms a strong resistance for this stock. Tomorrow, the region between the two horizontal green lines around $58 should be closely watched to see if it can provide some support.

CMI: Pull Back at a Support Level

After price break out(red circle), CMI is pulling back at a horizontal support level. If this level can provide a good support, this stock will have a longer running up.

USO: Long Term Technical Analysis

This is a weekly chart of USO in two years. It's very clear USO has formed a solid inverted head-shoulder bottom. If we connected the neck line, we can see that in the red circle the neck line provided a strong support for the short term pull back. Since then, USO has made a good rally.

Based on the bottom and the neck line, we can obtain an approximate target line and we can also see that the target was reached in the last week. Just because of this reason, USO was very volatile in the last week(see the candle in the yellow circle). The investors were indecisive about wheter taking profit or making new highs.

Also a resistance line is hovering around $65. In short term, it is a challenge for USO. However, in a long term, USO is heading for a price break out.

ICE: Will have a huge run!

On 09/25/2007, ICE was selected as one of the component stocks in the S&P 500 index. On this day, the volume reached nearly 20 million shares and the stock also had a huge jump. The jump brought ICE completely out of the short term down trend channel.

Let's review ICE's past performance first. After its debut, the stock kept running up for almost half a year, then it had a major correction along with the broader market correction in last June. Then ICE soared up for almost 8 months. Then there came a big correction again. A couple months ago, ICE made its all time high again. Since then, it was in a down trend.

From the chart, we can see there are three higher pivot highs and three higher pivot lows(the short red line is a low at close and it's not a pivot low, the long leg is an extreme value). In summary, what ICE did in the past two years was: a short run, a long and big run, and then a healthy consolidation.

Now, the real good news is the huge volume on 09/25/2007. It is almost the same amount as the debut volume. More importantly, it accounts for 1/3 of the total number of outstanding shares. Talking about accumulation, what else can be a larger accumulation than this one? Simply speaking, the supply of this stock will be in short, no matter the demand is up or down. Hopefully, this effect could be seen soon and for a long time.

SBUX: Update Here

Click: New Update

RSH: Trend Further Down

RSH is one of the unlucky members in this bull market. The sideways after a huge down trend didn't prevent the stock's further down. On Tuesday and today, short sellers controlled the market. As indicated in the red circle, the sideways is broken and a further down trend is confirmed by today's performance.

BSC: Shorters are panic

Let's first take a look at the daily chart: The green box and blue box are the shorting period when August data and September data were obtained. The red histograms are the volumes INCREASED during this period. The two red lines are the high end of short price and average short price in September. Today's rally could be viewed as a covering by shorters or short squeezing. However, if we look at the minute-wise chart for today, it seems another group of shorters are gaining strength at a higher price level.

Minute Chart:

The big jump today occured around 118 which is close to the average short price in September. This price triggered a set of short covering stop orders, with some fake news, the demand is mainly from shorter side. Then another group of people jumped in and dumped the stock as we can see from the decreasing trend of the OBV at the end of today's session.

SBUX: Uptrend Pressure is still high

Red boxes are the short interest volumes. SBUX is still under short pressure. Sideways may last for a while until some good news appear. September volume is still unavailable. Once it's available, the chart will be updated.

FIG: Short Squeeze should be watched

The figure is revised and updated based on new data released on 9/24/07. We can see the short interest is diminishing and the recent up trend might have already been a short squeeze.

The red histogram is the cumulative short interest volumes. The biggest short volume increase is around the price level in the green box. Technically, there is also good signs for short squeeze: 1. the downtrend is broken. 2. above SMA 50. 3. News of dividend announcement. The squeeze price range should be around the green box, that is, $23-$24.5. If FIG moves above $22, it'll be a good bet to expect a short squeeze. At that time, the stop price can be set as the current price level, that is $20.7.

AA: Long Term TA

This is a five year weekly chart for AA. In long term, AA is deciding to choose an up trend channel (green) or a down trend channel(red). From several points(green, red lines, and the SMA 20 week curve), we can see $39-$40 will form an important resistance for AA. In short term, this area is also a 50% pull back from the recent lowest low (as blue lines indicate). If AA cannot move above that area, it will pull back again and the next pivot low will determine whehter AA will be in an up trend channel or a down trend channel in a long run.

WFMI: Next couple weeks will be vital

This is a weekly chart of WFMI. WFMI is still in the down trend channel. In the past two months, WFMI tested the EMA 50 week curve three times. To see a trend reversal, WFMI has to move above the EMA 50 week curve first, then there is a horizontal resistance and the resistance from the upper bound of the down trend channel.

If WFMI cannot reach over the upper bound of the down trend channel, the $36 level should be closely watched, if there is a price break down at this level, the down trend will continue. If support is found at this level, WFMI will turn sideways.

GOOG: price break out

GOOG also made a price break out on Friday with a good volume. The base is a solid inverted head-shoulder pattern. The up trend of GOOG will continue although there may be a pull back in the near future. Need close watch for a rally.

CVX: Bullish

On Friday, CVX made a record price break out along with a high volume. The chart shows a clear cup and handle formation. There were nine consecutive bullish trading days with good volume increase in the last week. CVX is technically bullish!