Ideas for the near future:

I wished that I had posted these first two yesterday as they had huge gains today. But c'est la vie!

FCX:

Short: As can be seen the major trendline is currently at around 75 (blue line). There is resistance at 120 (teal line) and the orange line above it is where I would personally put the stop loss (around 124). Now what is interesting that that there was an inverted H&S formed but the volume pattern was not correct and then the subsequent break-out was on lower volume. Thus to me it looks like a failed bullish breakout that hit resistance at 120 and then will fall below the neckline. Furthermore the MACD Histogram seems to have leveled off. I entered a position at 118.5 and will ride it down (unless my stop loss is hit) until about the 100 area when I will take out some profits and then take the rest of the profits at 90 or so. Oh yeah and it could also be construed as a double top... (it fell almost 3% today from the 118.5 mark)

IP:

Long: To me it looks like a double bottom could be forming in this company at $25.00. The MACD trendlines need to break through the trend-line to really get this security But the MACD Histogram has started to show a positive divergence upwards toward the zero line and thus makes this a good opportunity. Now as far as the trend-lines go it looks as if it is in a bearish trending channel but since it is at the lower trend-line again it is another good buying opportunity. Since today it ended up around 3.5% my price target is about 26.5-26 depending on how things are shaping up for the stock and the dow in general over the next couple of days but my ending target is around 29 with at stop loss below 25.

KRY:

This is an extremely risky play but I really like it. First the weekly:

What needs to be noted here is the down-ward channel that the stock was trading in and then the subsequent down-ward break-out of the channel on huge volume for the stock. The only other things of note are the RSI and MACD trend-lines which look to be holding.


Now these are the trend-lines from the first graph. The upper trend-line for the channel isn't as important as the bottom which I made sure was a very good trend-line. What is EXTREMELY interesting is where the 3rd up-day's high was after the bottom. It stops RIGHT AT the bottom trend-line which is now resistance. That held on very large volume.

From here I think that KRY will eventually get back down to the .6/.5. Stop is obviously above the bottom trend-line I think I might try to get in tomorrow around 1.10-ish or so

That is all for tonight more to come tomorrow