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Quasi Trader
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I seek out value or mispriced stocks with a catalyst and special situations. I’m also a top down macro market trader. I invest for the long term and the short term. I use common stocks, options and ETFs. I use fundamental and technical analysis. I’ve been trading since 1993.
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  • What The Market May Be Setting Up For

    Retesting a breakout level (old resistance) is a common occurrence. The thick black line marks the spot where the S&P broke out of the trading range it had been in from 2000 - 2013. I cannot imagine not retesting that area at some point in the future. Now, the index could break down tomorrow or it may be some time. I don't know. But, in the next chart I will show you what I think may happen.

    (click to enlarge)

    It's possible the market traces out a head & shoulders top first before breaking down. If so, the formation only measures to 1700. But I think if it drops that far it may as well go ahead and test that breakout zone at 1570 or so.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Jan 29 10:02 PM | Link | Comment!
  • My Two Favorite Charts Right Now

    (click to enlarge)

    (click to enlarge)

    Disclosure: I am long UPL.

    Tags: UPL
    Jan 24 7:06 PM | Link | 1 Comment
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