Investor's Opinion
Portfolio Update
Published: 2010-01-26 20:08:00 EST by Unknown
EVEP had a bullish day on slightly better volume than average. The price movement of the past couple weeks looks like a charting pattern called a cup & handle. This pattern suggests a breakout. We also have the Stochastic indicator continues to climb above it's signal line and the MACD indicator has climbed to the point of intersecting with it's signal line. After this additional day of price movement, I think it will continue to climb. That is my opinion, you can take it or leave it.
SLV had a bullish day on better than average volume, but only after take a dive at the open. In the end, despite gaining back much of it's opening loses, it closed lower than the previous day's close. I am glad I listened to the contradiction of the Stochastic and MACD indicators, which are both still pointing down. However, today the price movement is slightly above an inclining support line I have been tracking it against. Also, the bid and ask prices are higher and narrow in spread. This leads me to believe that there is a chance of a bullish move tomorrow. I am putting an order in to buy more at this level. It won't leave me with much afterwards. But I will have enough to sell a covered call against it in the future.
ISPH, my paper trade, had a bearish day on less than average volume. The Stochastic indicator is holding a consistent decline while the MACD indicator is slowing down slightly. Also, the bid and ask prices are wide apart and bracket the price movement of the day. I still believe that the direction for the immediate future is sideways. That is my opinion, you can take it or leave it.
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Labels: chart patterns, covered calls, MACD, option strategies, paper trade, Stochastic, stock picks, stock strategies, updateUpdated: 2010-01-26 20:54:53 EST
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