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Saturday, July 22, 2006 

Key Word : The trend is your friend !!!!!

Courtesy of stockcharts.com

Dow Jones closed on Friday for the second time this month below the EMA200. I think this is a very critical phase for the DOW and perhaps the scenario for another drop in this indice could appear soon. The first objective would be the retest of the previous low at 10700 and then 10400.

Courtesy of stockcharts.com

Corning stock chart in the daily time frame it's show a descending triangle with a target in the $20.40.

Courtesy of stockcharts.com

Yahoo shares fell sharply on Wednesday 21% after the company reported weak revenue from Internet search advertising in the second quarter. Yahoo earned $164 million in the second quarter matching analysts’ expectations. The company’s revenue was $1.58 billion, up 26%. Yahoo’s revenue from selling advertising and other marketing services was $1.39 billion, up 27%. The company maintained its predictions for revenue and operating cash flow for this year.

Courtesy of stockcharts.com

Ericsson "USA " shares fell to $31.06 on Friday after the company said profit dropped for a second straight quarter, following the acquisition of unprofitable Marconi Plc assests.
Ericsson stock in the daily time still trading in a downtrend and I believe we will go to continue in this trend.

Courtesy of stockcharts.com

Red Hat, Inc. " RHAT " stock has been moving in a negatively inclined channel since May as show the chart above. During this week touched in the top of the trend and inverted again, so this short uptrend lost the strength, next support before the bottom of the trend is $21.50.

That's All. Have a great weekend and a good business week.


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Inspite of a little shoving around in the market the big guns have managed to hold their ground and it is no surprise considering their track record.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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