Charlie Anderson's  Instablog

Charlie Anderson
Send Message
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, 7-30 0 comments
    Jul 30, 2011 9:39 AM | about stocks: TRLG, NRG, GES, SAN, CLF, SHOO
    My worries were everyone's this week. The market had a rough week, down almost 4% in five days of trading. The model portfolio, however, was only down 1% on the week mainly due to an extraordinary performance by True Religion after reporting blockbuster 2Q results Friday. The shares were up 9.2% on the week, and had a weighted impact of 2.3% on my portfolio. GES was down again, which was frustrating. It's beginning to look like those shares will be in the doldrums for the rest of the year, but I can wait. NRG is in consolidation, which is fine by me. It was nice to see CLF pullback practically 10% this week, and I'm considering entering a position early next week, however; I'd like to wait for a default to be avoided. SHOO bottomed Friday, but I have no available cash to enter a position because I bought shares of STD as a trade on support at $10. 
    Despite the market's lack of trend this summer, it was only in this last week that volatility skyrocketed 44% to the highest weekly close since September of 2010. This is also a sign that people are worried. The other major signs are coming out of the CDS [Credit Default Swaps] & futures markets, which I don't follow. My worry from last week has become anger at our government, because this is entirely their fault. With the S&P currently at 1293, I see support between 1275 and 1265. Even now, and especially if we drop below there, I think we're looking at a head-and-shoulders pattern which would mark a long-term top in the market. I would exit my trades [STD], and move to short ETFs or cash. That being said, my optimism isn't yet totally shattered. We'll just have to wait and see.
    Stocks: TRLG, NRG, GES, SAN, CLF, SHOO
Back To Charlie Anderson's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • FSLR is approaching the bottom end of its range between 100 and 150.
    May 26, 2011
  • GES broke out of the symmetrical triangle formation today on 1st quarter results.
    May 26, 2011
  • GES is near the upper limit of a large symmetrical triangle formation, and will hopefully break out to the upside.
    May 17, 2011
More »

Latest Comments

Most Commented
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.