On November 29th, I sent out an alert to buy the January 2014 35 Calls because there was a bullish engulfing pattern showing up on the charts. At the time, the stock was trading $38.20 and I set a target price at the gap up around the $40 level. Now that the stock has moved higher I think […]
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Equity Oracle: 11/29/12
All of the major indices are showing bullish engulfing patterns and although Bank of America is not showing an engulfing pattern, it is showing bullish tendencies. For instance, the long shadow under the green candle tells us the sellers tried to push the stock down during the course of the day, but the buyers came back with force to […]
Equity Oracle: 11/21/12
Macy’s has formed a Cup & Handle pattern and it looks as though the stock is making a move to break out to the upside. The Cup & Handle pattern is a popular price pattern among active traders and the video I’ve produced for you will explain the pattern in detail. The “Brim” of the cup is where […]
Open House Webinar: 11/19/12
AJ goes over this month’s stock picks. See this month’s webinar »
Equity Oracle: 11/15/12
The Oil Sector is looking a little oversold right now as we reach for a role reversal support level around the $36 area. The drop in trading volume suggests to me that the selling pressure is easing up a bit. When you see that happen at a major support level the buyers start to pay attention and often you […]
Equity Oracle: 11/08/12
Silver is one of those commodities that trade very technically. In other words, the price action follows the technical signals the majority of the time and this time we are seeing a very well defined bullish engulfing pattern forming on the daily candle charts.