timwest

timwest Wizard

CSCO is apparently breaking out of an accumulation zone from $16.24 down to $13.30. The breakout occurred at a price level which leaves CSCO between support at $15.40, down $1.30, and resistance at $17.40, up $0.80. So even though the trend looks constructive it has more risk than reward. One way to make the odds work in your favor is to wait for a pullback to...

timwest Wizard

GM has an interesting trade setup: This is either a setup for a rally after its prolonged selloff or just a resting place before the next downleg occurs. The #1 selloff consumed 5 days. The #2 was 4 days. The #3 was 3 days. And now the downtrend line is close to being violated (if it closes above it) and a rebound is possible. The risk is to the 3-day low or...

timwest Wizard

"All the king's horses and all the king's men couldn't get silver to rally again." How is it that this market could NOT muster enough buying interest to move to new highs amidst so much potentially bullish news? SLV and all of its sister etf's that own silver or silver derivatives should be tested in the coming days and weeks and months. This situation of "no...

timwest Wizard

What is MOST interesting to me about GLD here is it has faied to attract new buyers at a time of near panic as measured by VIX reading above 40 which happened concurrently with fears about the solvency of European banks, ratings agenciy downgrades and announcements to throw more debt onto the back of most developed nation's economies. Obama's fiscal stimulus...

timwest Wizard

The EuroCurrency ETF is deeply oversold in a new, solid downtrend. The way to structure trades in this market is to wait for a rally back toward the low-risk RESISTANCE AREA marked on the chart from from 140-145. Enter shorts starting at 138, 138.50, 139, 139.50 and use a 143 stop initially. Once 136 is violated then reduce stops to 141. The fundamental...

timwest Wizard

The chart is suggesting either this recent distribution from the $600 level back down to the $500 level is either stage 1 of a bigger decline to break under the last 52-weeks worth of trading OR I will consider this an accumulation level if prices don not begin to decline under the $480 level in the next 5 weeks. There is a good chance also that a weak,...

timwest Wizard

The Swiss Franc (FXF) is deeply oversold and ripe for a rebound. Today's move above yesterday's high could setup a quick rebound back to the 120 level. Risk a drop back to 111. Last 112.44. By Technical Tim