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, 6-5 0 comments
    Jun 5, 2011 8:41 PM | about stocks: NRG, GES, AZN, LLY, SPY, VIXM

    The one thing that seems to be unfailing in my time studying the market has been that as soon as I start making new highs for consecutive days, things go wrong. Monday yielded the breakout that I predicted last week, but it didn't feel quite right. The volume was too low and support was tested. This proved right for Tuesday through Friday, as the market fell over 3% in 4 days. My portfolio took a pounding this week and gave up all of last week's gain and then some. I'm selling BWLD at the open Monday, as the support didn't hold. Everything was down last week, and people seem worried. A lot could go wrong, and my ears were flooded with bearish sentiment all week. 1300 should act as support, but it might not be that strong. Downwards volume also picked up for the latter half of this last week, as volatility stood still. I'm nervous looking forward, but I am also cognizant of investment opportunities amid the fray.

    Stocks: NRG, GES, AZN, LLY, SPY, VIXM
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