Stock Trading Predictions & Technical Analysis: SBUX, HGSI, NFLX, Dow Jones

Wednesday, November 11, 2009

SBUX, HGSI, NFLX, Dow Jones - BUY CONFIRMATIONS & Dow Jones Update

Update: I am no longer long SBUX as my stop loss was triggered. Keep in mind that its trend is still up, and my sale was triggered based on the fact that I was not willing to give up most of the gains I had accumulated, and therefore my tight VTSO has been triggered.

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SBUX - BUY CONFIRMED (possible support @ $21.50)
HGSI - BUY CONFIRMED (support @ $28.00)
NFLX - BUY CONFIRMED (support @ $58.00)

I would suggest setting stop losses under these support levels.

Please be advised that despite having BUY CONFIRMATIONS that you should be very cautious getting in at these levels, since the Dow Jones looks to be at the top of its up trending channel. However a sharp move towards 10400 or above could trigger a STRONG BUY for the Dow Jones. However, such a signal could be short lived and if it does occur could be followed by a strong pullback. As I write this the Dow Jones is almost exactly at the level of 10350 I said I expected to see go at before pulling back. So, I would probably suggest that you wait towards the end of the session to see what happens with the Dow. Despite the market looking strong right now, the Dow has gained around 650 points in just 7-8 straight sessions, and the possibility of starting to see a pullback near the close is a possibility. But like I mentioned before, we could get a STRONG BUY SIGNAL with a move at +10400. However, I suggest if you are looking to take any new positions, you should wait on the side lines to see if the market does continue higher, because if the Dow Jones starts pulling back now along its up trend, it could and should go as low as 9900-10000 before bouncing back up again.

DOW JONES - HOLD

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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.