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, 5-15 0 comments
    May 15, 2011 8:14 PM | about stocks: NRG, TRLG, BAC, GES, LLY, AZN

     The market had another rough week, and failed to hold onto gains from early in the week. While this week's sell-off was markedly less powerful than last week's, it wasn't great. This could, however, represent a good buying opportunity if you buy the reverse head-and-shoulders thesis. I decided to sell Bank of America [BAC] at market open on Monday, as the support at $12.08 didn't hold. This was an unsuccessful trade, but I will only lose a small amount. Guess continued to outperform, and I'm up nearly 10% in a few weeks. NRG and Astrazeneca are also doing well. Eli Lilly [LLY] may have broken out of an 11-year long downtrend, but it is too early to tell for sure. If so, this would be very bullish. True Religion is also doing well. I'll be on the lookout for more trades, and I would like to buy shares of Eli Lilly in the model portfolio.

    Stocks: NRG, TRLG, BAC, GES, LLY, AZN
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