Obama vs The World

So Obama wants to limit the investment practices of banks.

Interesting.

I'm not entirely sure if I'm for it, against it, or if I couldn't care less. One minor detail missing is that Wallstreet was one of the causes for the near-financial meltdown, right? Ok,... so what about ALL OF THE OTHER REASONS? I'm pretty sure the government had a very large hand in creating the initiatives that set the wobbly wheels in motion, and their power sure as hell has gotten larger. I won't go into the details about how they caused the housing-crisis, because frankly I'm not really sure if I care anymore. But I feel the finger is being pointed toward "capitalism" because there is a much larger agenda at hand. It's really no different than the Bush agenda (not the practices or goals, rather the fact they both are/had pursuing/pursued an agenda that is not in the people's best interests.

Paragraph 2

Now that I've added a chart to my blog, I guess this post is starting to make a little more sense now. I'm sure lots of people are shaken up by the market action.. but I'm here to relieve you and to tell you everything is ok. Look at the chart above. It tells you where to exit and where to re-enter. The patterns should be similar so watch for them. This dip is NOT A SELL. Here comes a lie: Everything I say is 100% accurate.

I enjoy making predictions though, because when they come true, you look like a guru.

Blah blah blah.

In other news..

Here's how I would apply fibonacci to the current retracement. If you're curious why I chose this level (the bottom of first major retracement in the market since the rally) feel free to ask. I'll just make something up on the spot.

Actually I'll tell you the answer: Swing points. And no I didn't just make that up. I believe the market is going higher, but we're going to see lots of sideways action. See my previous post as to why I think we go higher.

The Market is going higher!

I know, the bears have a pretty valid argument, however, the charts are saying UPSIDE until proven otherwise. Until RSI is in the red on a monthly, I say the market will continue to climb.

Weekly is HUGELY bullish.

Once the market decides its overbought, look out below. I wouldn't start worrying until we get into the mid 11,0000's, according to Mr. Fibonacci, and even from there it's a whole other ball park. There was some resistance at 50%, which we just followed along for several weeks.
Until then, ENJOY the opportunities given to you (us) by a steadily climbing, if not simply sideways, market.

AF

some bios. don't bother paying attention to cash/price/market cap, as i'm sure it's all off

Watchlist for tomorrow and the next few days.. maybe some charts if I can muster the energy

CT

SONS

ZHNE

EEE

AMFI

RAD

APPA -- I highly recommend this stock. Do your DD. PDUFA coming in March

GNVC targets part II

Here are two charts of GNVC. I added the 2nd chart and moved my 0% Retracement level up so that it matches the chart. From here, I would use the range of the two targets for each level as a target..

1st Target = 1.38-1.43

2nd Target = 1.63-1.69

3rd Target = 1.94-2.01

Looking at the daily, you can see the breakout getting ready to take place. Be cautious with bios however.

MESA continued - a few sell targets and basic chart analysis

This is what I see when I look at MESA

For the sell targets, I used the intermediate high of .28-.30 because the chart is still bearish. If the chart continues to trade in this manner, I would expect the pops to be bearish so I am conservative in my targets by using the lower of the two highs. MESA has ongoing news so you can't exactly chart future events. If you own MESA at .10-.11, a strategy of selling and holding on to gains would be to sell 2/3 or half, but even I have problems selling pieces of a position.

Everybody has their own methods of target projection.. Some might sell the gap at .20. I would sell the 50% retracement at .20. In the end, we all look at the same chart so whatever you call it is fine.

MESA WEEKLY

It's always good to take a counter position to a trading idea. It keeps bias out of the trade.

The MESA weekly says this could be trading in this range for a very long time. It's also very bearish so pops should be sold. A lot of people look at RSI as an "overbought/oversold" indicator. I use it as a measure of strength only, and the weekly still says this could have some downside before it's all over. I like my weekly charts solid, sideways, with a weekly RSI over 50. Notice what MESA did the last time the RSI was trading at a high level - it ran from .14 to over .36. RSI sitting at lower levels (under 40) will sometimes stay in the bearish trend and continue lower (the opposite of what they do over 50-60). Once again. any pop should be sold. I would PREFER to play MESA at a double bottom at .04 which is what I'll probably do

MESA - long term support

MESA support can be found in this area. A stop would be placed just underneath this level, or if you wish, could use this as a basis for building a position. I would prefer trading this as a double bottom at .04-.05, but will look for an entry if this turns up from here

GNVC targets