Erik comes here every day like "clock work" and takes time to write a very informative piece for everyone to read and hopefully gain insight...Erik is a stand up guy!
keep an eye on JOYG. its trading at 18.40 at the moment and i believe it hits 19..then look for 20(a round number) followed buy the 50 dmd which is 21. 21 should prove to be a magnet..keep in mind that both JOYG and BUCY have a habit of gapping up and then fading..today could be much different...
GE are definitely clamping down on their finance division. GE Money offers financing for business' who wish to offer finance to their customers(a good thing) but not in this environment. they also have alot of retail store accounts. that said,how bout dumping NBC ?
I personally think GE will...
my grammar is atrocious sometimes lol..i trade much better than i write,thats why i chose trading opposed to teaching English. that said,i will take that as constructive criticism.
the big support level most traders were focused on wasthe october 2002 low on the dow and s&p.. everone looks at the stock market bemused by the sudden uptrend 3-6 months before the economy and jobs market turn because he all know it signals a new economic recovery. the market is supposed to be...
working out as well. don't get greed,it opened near 116 and dropped to the 105 area. no excuses if anyone waited around to take profits. FCX trade is looking strong as well.
looking for FCX to hit the 29.40 area today. i like the chart and think FCX goes higher today OR it gaps down a bit with the futures and bounces so either way,its a good trade especially on any opening weakness.