Sunday, February 02, 2014


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UPL - long trade

Last days UPL don’t care much about market action and despite of weakness it is strong if we look daily chart and form triangle pattern. I’m interested for triangle breakup and long continuation. Weekly continuation pattern support that possibility, same as monthly reversal cup and handle. If that will happen then I will look at least for $27.50 target area what is also daily equal move resistance.
Trading plan:
Entry:  $24.08
Stop:     $23.80
Target area:   $25 – 27.50   
Type:  swing trade

OVTI - short trade
I will try to take OVTI on 60 min bear flag what can lead in to daily break down and another daily selling wave. Monthly chart suggest that if that 60 min and daily idea will work we could see monthly break down and run to $10 area. For start that is far away, but I was like to show possibility and what I see there.
Trading plan:
Entry:  $15.30
Stop:     $15.55
Target area: $14 - open  
Type: swing trade

Stocks Peak One Year After Bonds (History Set to Repeat?)
Financial parallels between the 1920s and today
By Elliott Wave International
The financial parallels between today and the 1920s are striking. History doesn't always repeat itself, but you can benefit by seeing what we see. Read more.


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