4 replies to this topic

[Cirrus]

To go along with a really nice weekly chart...

Four separate directors have purchased over $15 million in stock out of their own pockets the past 10 days. I find this a little unusual for a large mid cap to large cap stock near ATH's.


http://stockcharts.c...08591&r=859.png

[hiker]

not so fast....is the rally over...have mutual funds completed the buying program? btw, Cramer is pumping FCX every single day now...

http://forums.techni...post?id=1791991

weekly chart at the end of this thread.

I am a seller today.

sure, it may make sense to buy it again another day...

copper sector delayed data -

Symbol Pct from Yr High Trade Change Volume Avg Vol (3m)
- - - - - BHP Down 4.79% 48.31 Up 0.93 Up 1.96% 1,616,900 3,443,170
- - - - - CUP Down 39.86% 4.1500 Down 0.0400 Down 0.95% 173,900 456,518
- - - - - CUU.V Down 9.94% 1.45 Down 0.05 Down 3.33% 119,801 515,166
- - - - - FCX Down 9.16% 65.60 Up 1.39 Up 2.16% 8,468,000 9,782,920
- - - - - IVN Down 6.88% 11.37 Down 0.14 Down 1.22% 217,000 595,585
- - - - - MAD Down 11.38% 11.53 Up 0.20 Up 1.77% 2,700 20,293.4
- - - - - OLN Down 25.83% 16.80 Up 0.14 Up 0.84% 151,100 668,326
- - - - - PCU Down 6.80% 71.32 Up 0.38 Up 0.54% 735,400 2,613,510
- - - - - TGB Down 38.35% 2.62 0.00 0.00% 98,600 741,536
- - - - - TNRO.OB Down 28.02% 2.62 Up 0.01 Up 0.38% 11,800 63,501.6
- - - - - WIRE Down 46.27% 25.44 Down 0.07 Down 0.27% 28,727 465,821
- - - - - WLVT.PK Down 66.28% 2.31 Up 0.11 Up 5.00% 186,582 288,774

Edited by hiker, 29 March 2007 - 10:56 AM.

[Cirrus]

I'm looking for a run over the next 6 months. It may be due a pullback on the daily--agree there. My stop is a weekly close below 60 OR a dramatic weakening of the relative strength to the SPX of energy and industrial metals. I also bought CEO based on the weekly chart just a few TDs ago. I see that one heading to 100. I've had much better luck in this market holding longs (and sometimes shorts) for longer periods of time and basing my trading on weekly and not daily charts...FWIW.

Edited by Cirrus, 29 March 2007 - 12:48 PM.

[hiker]

yes, the weekly chart is what we are both talking about. I understand Cirrus. It is of interest that most of these analyst upgrades come near the new top of the multi-month price advance.

[Cirrus]

Hiker, You may be right. I'm looking for a BO and multi month run in energy and industrial metals stocks. It may not happen. I really think it depends on the fed and markets. I happen to think those groups lead IF the bulls get another IT run. If they turn south I'll be short this market--though I already have a couple of shorts. Also, this type of volume pattern (heavy weekly volume at highs) typically leads to further moves.

Edited by Cirrus, 29 March 2007 - 01:50 PM.