Nathaniel Mathe...'s  Instablog

Before we get into these charts I just want to point out an interesting thing I noticed this weekend. For nearly the entire weekend the top articles trending on Seeking Alpha all delt with the same idea of a stock market bubble ready to burst. Isn't this a indicator that the market should continue higher? Is the street still, after the year we have had, waiting for a pullback to buy in? Be sure to follow me on Twitter @CircaAlpha and on StockTwits @Circa. For qualitative analysis check out my articles on Seeking Alpha.

BlackBerry (BBRY)

Doesn't this chart remind you a little of physical silver? When I was going through charts this weekend this one caught my eye because it look eerily similar to silver before silver's harsh breakdown into the low 20s. I was stalking a short all last week but unfortunately I couldn't get myself to pull the trigger. I looked towards options but the expensive premiums turned me off. On Thursday, shares closed below key support at $14.71 and in the process broke below both the 21-day and 50-day moving averages. Friday shares popped early in the session before finding resistance at the 50-day. Going forward, it looks like further downside is ahead. As my first target, I'm looking for a gap fill to $14.15 and then an eventual move to support around $13.

Las Vegas Sands (LVS)

As predicted last weekend, Las Vegas Sands continued to the upside early in the week before stalling out just under $60 per share. Shares hit resistance at the upper bollinger band as the RSI signalled we were now in overbought territory. I actually sold my position mid week around $58.30 as it looked like shares were going to pullback further. I then took another long position about a dime higher at $58.40 before the was over. Going forward, I believe we could be on the verge of a cup and handle breakout above the key $60 price level. I remain bullish on the long term prospects of the company.

Lululemon Athletica (LULU)

Shares have consolidated since hitting the upper bollinger bands early last week. LULU is starting to look tired at these levels with the RSI touching overbought levels. Watch $81.75 for near term resistance as shares topped out at this level previously last week. Should LULU trade over this area I would a expect a couple days of continuation to the upside. I may try a short position early in the week but will keep a close stop loss. I still remain weary of this company's long term growth potential especially in Asia. Is LULU just a fad?

Disclosure: I am long LVS.

Las Vegas Sands (LVS)

Las Vegas Sands finished strong on Friday closing at its highs for the day while breaking above $57.88. I am looking for a continuation to this breakout on Monday up to the top of the bollinger bands. I may be adding to my long position on an early pullback if we see broader market weakness.

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Nokia (NOK)

Nokia finished the week at its highs while closing above resistance. Shares closed above resistance seen at $3.60 and trend line resistance around $3.35. I am looking for a continuation candle on the weekly chart. I am looking to possibly take a long position early on Monday for a move to $4 per share.

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Disclosure: I am long LVS.

Additional disclosure: I have no positions in NOK, but may initiate a long position in NOK over the next 72 hours.

Las Vegas Sands (LVS) has pulled back over the last couple days after trading near $57 per share last week. Shares are nearing trend line support around $52.50 as well as the 50-day moving average at $52.93. I expect that shares will remain above the 50-day moving average and make a move back up to $57 in the near term. Over the course of this pull back, the RSI has fallen from overbought territory and now reads a 51. Shares have rebounded slightly since hitting the lows of the day at $53.10. For more information on Las Vegas Sands please refer to my article from earlier this year.

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Disclosure: I am long LVS.