At the beginning of every week I will take a look at the broad market as a whole and discuss what important updates will be happening in the week and if any significant reports/earnings will be coming out.

Then everyday I will try to find a new stock that I feel is poised for a big next couple of days and set price targets, stops, etc.

Monday, May 12, 2008

Ideas for this week:

As stated before:

Long CF

Short XOP, ICE

Now for some new analysis:

COP:

As can be seen from this chart it looks as if COP has made a triple top on the weekly graph. The MACD is still showing a negative trendline as is the RSI. Furthermore on a daily chart there is a hammer candle on Friday and a bearish doji on today's chart. So the thoughts on this one are:

Short at: 88.25
Cover at: 90.00
Profits: 76.00
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