Sunday, June 21, 2009

JPM, CEP, UNG and BIDU per popular request

Interesting stock CEP. The "flying pennant" looks good for long, but the MACD looks butt ugly. It is in such a no mans land between Fib's they give no guidance.

The channel I drew really seems to this might go to test the lower channel before it heads back towards 50%.

Let me know what you think? I'm am kind of more temped to do something like short FSLR as a related oil price play.

JPM - looking to buy puts on a ramp up


  1. Steveo, Place obvious retracements on the SPX from 08 highs to lows.

    Now place fib extentions at March Low, March high, and 3/30 low.

    These dates shift a bit from security to security. One interpretaion might be that we see charts pause here beteween a tight retracement and extention battle. I'm seeing this everywhere. EB

  2. Anon -
    "march low march high..." is as orbitrary of a placement for fibs as it gets. following that logic why not to place is at feb low jan high?
    You always have to use either "absolute fib 0 to high" or "comparable highs with low in between" and vice versa
    JMHO based on 20 years of mistakes

  3. DavidDT wrote, in response to steveo77:


    for some reason I could not paste links to charts on your blog's comments

    so here they are BIDU daily


    I see BIDU as very shaky short right now, it will depend if it will stay under 298 on daily close, and I am afraid it will not, what you see as rising wedge, I see as ascending triangle (clearly visible on 30 min chart)

    At least risk level is clear for this trade

    as for "numbering" - do google on DeMark TDSequential

    Link to comment:


Insightful and Useful Comment!