DaviesTown.com/blog

I’ll keep this post short.

Have I mentioned how much I LOVE Bloomberg (red stands for love)? Well, now that I recently found out there’s a Bloombert Certification program, I’m going to strive to get certified ASAP! ..Cuz I love it that much.

New changes to my website www.DaviesTown.com. Very cool changes IMO. Features like “My Busy Hours,” “Stored Resources,” “Photo Galleries,” and a few others… I think.

Mmm what else… I exited HAL since it wasn’t going my way. I need to remind myself that the trend is my friend… but crude oil is exhibiting such strength that I can’t believe it. Oh well. =P

Mmm what else… Not many more posts will be coming out as I have been disconnected from my market feed for quite some time now. I’ve been focusing on (1) my website, (2) school, and now.. Bloomberg Certification program!! On top of that, there’s a plethora of investment books I need to read. PLUS, there’s the Canadian Securities Course. Oy. Sounds like a plan. =)

[Posted @ 08:13:55]

Follow up to this post. A nice image is seen this morning:

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The power of technical analysis.

[Posted @ 12:25:29]

Source: http://biz.yahoo.com/ap/080425/oil_prices.html

“Crude prices rose on initial reports that a U.S. ship had fired on two Iranian boats; the news raised concerns that a conflict between U.S. and Iranian forces could cut oil supplies from the region. A Navy spokeswoman said the origin of the boats was unclear.

The news was enough to send light, sweet crude for June delivery up to $119.55 before the contract retreated to settle up $2.46 at $118.52 a barrel on the New York Mercantile Exchange.”

There goes most of the nice candlestick formations I was talking about last night… I guess no clear-cut top afterall… The only ones that look like they’re going to fall are HAL and SLB. I’ll put some money in HAL since it will be essentially unchanged today to make a nice doji.

Strategy:

Last - 46.90 @ 12:56:35
Target - 42.00
Stop - 48.33

I’ll see if I can create a virtual portfolio to track my performance on this blog.

[Posted @ 00:44:32]

Weeee! I’m done my finals. Happy~!

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Top in USO (United States Oil ETF) and oil & gas related stocks? Hmm. That answer is contingent on tomorrow’s price action. One thing is for certain though: if what I’m seeing is correct on the charts, there is a high probability of a top in crude oil and oil & gas related stocks. Here’s what I see:

1. In terms of candlestick pattersn: Shooting stars and bearish engulfings.
2. In terms of overbought/oversold oscillators: Overbought levels.

All charts are WEEKLY charts. Unless oil, gas, and oil and gas related stocks go up significantly tomorrow, there is a very strong tendency for oil and gas related stocks to fall next week!! These are one of those moments when you can just see it happening. Am I certain you ask? Yes, I am certain indeed. Would I put money on this idea you ask? Yes, if prices remaim relatively stable (i.e., relatively unchanged) then I would definitely open positions.

Analysis on THESE — USO then APA, CHK, HAL, OXY, SLB, and finally XOM! Okay. Let’s begin with USO:

Weak signal. Nothing particularly special (except the all time highs) about USO’s weekly chart. I just had to put it up here because it captures the recent price action seen in crude oil.

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Bearish engulfing anyone? The volume isn’t particularly high though. I would like to see volume to exceed last week’s amount at the very least to have this pattern appealing.

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Shooting star anyone? I would like to see CHK to fall a little bit to have a nice doji shooting star. Volume is nice.

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Okay, I want HAL to tank (emphasis added)! Look at this STEEEEEP increase in price over the last four weeks. from 36.28 on the week of March 24th to 47.43 on the close on April 18th. That’s a 30.7% increase over 20 trading days. Hmm. I think when holders of HAL see other oil & gas related stocks falling, they’ll take profits as well… while they still can. That’s my theory anyways.

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OXY! Pretty OXY. They came out with stellar earnings today (April 24th). Earnings of $2.23 beat forecast of $1.98 per share (an upside surprise of ~13%) yet afterhours show little enthusiasm.. Hmm. Interesting.

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Slumbergeeeee~ (without the r =P) NICE SHOOTING STAR! Just lacking volume heh.

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And lastly, I present, XOM: triple top anyone? Glaaadly! =)