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Wednesday, November 14, 2007 

Trade Ideas for Thursday - BRCM, YHOO, CIEN, RMBS

Chart courtesy of stockcharts

RMBS has been in a sold trend recently and has held up pretty well on its 200 dma. It is trading in a small bull pennant here and could breakout if the markets cooperate.

Chart courtesy of stockcharts

Ciena "CIEN" had a high volume breakout in October and then promptly decided to go nowhere. It has been trading sideways which has allowed the 50 day simple moving average to catch up to it. It has successfully bounce off this sma in the past so I am looking to see if that trend will continue.

Chart courtesy of stockcharts

YHOO - I closed my long position on Yahoo today, because I'm still seeing a big selling pressure on stock. Let's see if tomorrow support at $24.74 will sustain this pressure.

Chart courtesy of stockcharts

BRCM - Stock broke down so be careful if you're on the long side, next support it is only at $26.80.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!


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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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