Charlie Anderson's  Instablog

Charlie Anderson
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I am currently a student. I use a mix of technical and fundamental analysis to arrive at investing prospects and then do in-depth analysis.
  • Weekly Outlook, 3-13 0 comments
    Mar 13, 2011 6:32 PM | about stocks: NCI, NRG, BBY, TRLG, ABEV

     The market's continued sideways action is worrying me. The trendline I mentioned in my previous post was broken, and downwards volume is picking up. However, the S&P 500's support at 1300 has held strong so far, and because of that my bullishness is unabated. Conversely, I entered into a long position this week in Best Buy [BBY] as a short-term technical play with solid financial health and decent fundamentals. I also have my eye on HH Gregg [HGG]. While it has stronger fundamentals than Best Buy, it is in a downtrend with no sign of stopping. When I begin to see signs of a bottom, I will enter a long position.

    Stocks: NCI, NRG, BBY, TRLG, ABEV
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