Traders Corner   4 comments

Yesterday’s S&P 500 drop helped give the bulls a little breathing room for today, by raising the top of the Bollinger Bands. Other than that, the technicals are pretty much the same as they have been for about a week.

The S&P 500 levels to watch today:

UPSIDE: 1808 (November 25th’s high and the all-time high) and 1809 (top of the Bollinger Bands).
LAST CLOSE: 1802 (November 18th’s high).
DOWNSIDE: 1800 (November 25th’s low), 1797-1798 (2 data points), 1794-1795 (3 data points), 1790-1791 (2 data points), 1788 (November 18th’s low), 1782-1784 (3 data points), 1780 (November 14th’s low), 1777 (November 20th’s low and the 20 day moving average), 1773-1775 (3 data points and October’s high), 1770-1771 (2 data points), 1764-1768 (5 data points), 1760-1762 (3 data points), 1752-1755 (2 data points), 1746-1747 (2 data points), 1745 (bottom of the Bollinger Bands), and 1736 (50 day moving average).


Posted November 26, 2013 by edmcgon in Daytrading, Investing, Market Analysis, Technical Analysis

4 responses to “Traders Corner

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  1. I have a limit sell order on UPRO set for $90.31. I will probably sell it anyway today.

  2. Ed

    Thoughts on CKSWi and RDWR?

    • Ojunker,
      CKSW looks rough. Decreasing revenue, negative margins, and a disappearing dividend are all signs of trouble. On top of that, it’s at the top of it’s trading range. If you know the company and truly believe in it, I’d hold out for a drop into the $5-5.50 area. Otherwise, I’d avoid it.

      On the other hand, RDWR has much cleaner financials. Unfortunately, their stock price is showing it too. But a PEG ratio of 2.7 should come with better revenue growth than the 1.1% they showed in the last quarter. If you really like them, I’d wait for a drop below $16 before initiating a position. They just broke out of their trading range this month, and have recently flattened out, so they could be due for a dip.

  3. I sold UPRO at $89.52, for a 0.40% increase today, and a 3.01% increase overall. Not bad for less than a week.

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