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Friday, December 14, 2007 

US Consumers still spending - Retail Sales surprise

Chart courtesy of stockcharts

Finally today was reported one of the key factors that many analysts are always looking for, Retail sales. It was clear that consumers have not been affected by the worries of high fuel costs neither with the problems related with the credit and home sales. Retail sales in the U.S. increased twice as much as forecast in November. The 1.2 percent increase was biggest since May, followed a 0.2 percent gain the prior month, the Commerce Department said today in Washington. Purchases excluding automobiles jumped 1.8 percent, the most since January 2006.Finally we see something that could bring some relief to this market, stopping market volatile and all stress around in investors, about a possibility recession. I will be worry in the US economy when we start to see a decrease in the creation of jobs and a decrease in spending, until there, I’m still very confident in thiseconomy. I'm convinced that we'll move up again.

Chart courtesy of stockcharts

RIG may be ready to breakout !!
Looking at the chart stock has had a nice run over the past few weeks and today stopped again at the major resistance $139. I'll be Bullish in this stock if breakout this area.

Chart courtesy of stockcharts

RMBS is looking great in this cup and handle. Now all we need is for it to break naturally. Keep Rambus on your lists for a potential break-out candidate, if markets cooperate.

Chart courtesy of stockcharts

Shares of First Solar were up today nearly 3% or $6.67 to $248.35, reaching during the regular session a new 52 week high at $256.45. The daily chart show a continuation of the up trendline with MACD and RSI in the Bullish areas, the stock is in a strong bull market with both 50 day and 200 day moving average going up. Keep an eye on FSLR for a possible over $256.45. UBS upgraded stock today with a buy and a new price target of $350 per share.

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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