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Bryan Gomez
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Bryan S. Gomez is from Manila and has been a student of the markets for 10 years. He started working for Citisecurities upon graduating from Ateneo de Manila University with a bachelor's degree in Management Engineering. Because of the internet, the investing landscape has been put in a level... More
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  • FLR turns up the volume; HEV breaks out with volume too 0 comments
    Sep 16, 2009 11:18 PM | about stocks: FLR, HEV, UUP, GLD

    At last we see volume turn up last night especially for our FLR which closed at 56.03. Our initial target is at 58, the top of the range. Hopefully we can start selling half at that point.
     
    Our HEV closed at 7.11 and I hope you did not watch the opening minutes because as the close tells us, going down is not its intended direction. It broke 7 with good volume and now I added the other half of my intended volume for this trade. Put your stop at 6.53.
     
    Gold is precious once again as dollar continues to be sold off. It seems to me that a legitimate gold break out will trigger inflation perceptively in the future which will then after trigger rising rates which will support the dollar. This is the fundamental sequence that I can think of. The technical sequence I can think of based on the dollar's chart (I am using UUP) is a probable retest at 22 and then a bullish MACD divergence to form for our entry. I estimate that dollar buying will happen very close to year end or at
    the start of next year.
    .

    The author is long FLR and HEV.
    Themes: Flour breaks out, Ener1 breaks out, dollar continues to break down Stocks: FLR, HEV, UUP, GLD
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