Wednesday, February 06, 2013

 I like to remind that resistance is area, not exactly price.

stock picks for 02/04/2013

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Good Trading!
Ivica Juracic

Pristine Trading is having an open house on February 5, 6, and 7th to their "Black Room", if you don't have a free membership with them just go to their site, http://www.pristine.comand sign up, it's, FREE!!!!!!!!!!!!!!
I will be in the room those three days, mainly because I'm a cheap bastard, but also to get Paul Lange's opinion of where the market's are going. If I had to GUESS, which is my favorite strategy of course, I'd say that they would be saying that over $68 and Da Q's are a GO, even though they have been showing massive relative weakness in comparison to Da Udder Index's, this is a double edged sword of course, as you COULD say, that they are going to play catch up, in a BIG way, to every one else, which would provide the needed fire power for the SPY, DIA and IWM to continue their power trends, BUTT, with the markets obviously over bought and in dire need of a pull back, Da NasDOGS will pull back MUCH MORE than the Udder ones. The first pull back after a run up like this is ALWAYS buyable, ALWAYS................... well, OK, MAYBE.......POSSIBLY............PROBABLY..........well, OK, they will be as long as they don't pull back under that bottom support line. If they do break under that support then they have a lock on the gap fill from December 31st, which, of course, would be THE BUYING OPPORTUNITY OF A LIFE TIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIME.............................
As long as they don't collapse back to $19, hahahahahahahahahahahahahahahaha...............

A Coy Public Suddenly Gets Cozy with Stocks
The last burst of market optimism?
By Elliott Wave International
The public is jumping into stocks after being reluctant to do so for most of the uptrend since March 2009. A bullish sign or a red flag? Well, consider that investors were also bullish on Oct. 9, 2007, just before the Dow's all-time closing high. Just days earlier (the third week of September 2007), equity fund inflows hit an all-time record of $23 billion. See the chart. Read more.


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