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Serge Berger is the Head Trader at Blue Oak Advisors LLC. and runs the Daily Financial Newsletter and Chat-Room Service at www.TheSteadyTrader.com. The website guides traders and investors through the trading day using a multi-time-frame approach to trading. During his career, Serge he has been... More
My company:
Blue Oak Advisors LLC
My blog:
The Steady Trader Blog
My book:
Multi-Timeframe Trading - A Comprehensive Trading Plan
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  • Intel (INTC) To Rally Much Higher?
    After yesterday's large rally in INTC, the semiconductor complex almost completely destroyed a very bearish chart pattern in many semiconductor stocks, as well as in the SMH ETF.  

    The point here is not so much to look into the details of the daily chart but noticing how hard INTC bounced off the $19 area, which also coincided with the low-end of the longer-term narrowing trading range.  The stock is now right back in the middle of this trading range and will find next resistance at $22.  On a break above 22 on a weekly chart I will consider initiating a long position.  

    Charts are just one necessariy items to study and as such the seasonality factor (late spring – late summer weak for stocks) as well as the cyclicality of stocks (I think we are nearing a top in this bull market) give me many reasons to believe that INTC will have a very difficult time catapulting itself above $22 for an extended period of time.
    INTEL

    Apr 21 8:05 AM | Link | Comment!
  • S&P 500 Daily Chart Analysis – April 21
    As I've been discussing with Premium Members over the past week or so, the S&P 500 is starting to get into a position for a nice move higher, potentially as high as 1440.  

    On the chart below let's notice a few key parts.  First, the 50% retracement of the December lows to the February Highs, which held.  Next, the 50% retracement of the March lows to the recent April highs, which held.  Next, note the inverse head & shoulders pattern in the SPX since February.  This particular pattern could run as high as 1440 if it were to play out in a textbook fasion…which of course things rarely do. 

    My upside targets are 1360, 1380 (where I will take a good amount of long exposure off), and then 1420.

    Should we stall somewhere around 1440 – 1450 it will be key to watch how the 1300 area and ultimately 1250 aread hold up.  Should we then slide into a pattern of lower lows we could conclude that the February and April highs marked a double top.  

    SPX Daily Chart

    Apr 21 7:11 AM | Link | Comment!
  • Is The S&P 500 Ready To Soon Make New Highs For 2011?
    That's the question many investors are asking themselves as we sit somewhere between resistance ($1345) and support ($1300).  Last Thursday's test of the $1300 area and subsequent bounce with follow-through on Friday may have been a the signal we needed to go long again – note the bullish candlestick on Thursday's trading session.  In my opinion it won't be wise however to bet the farm at this late-cyclical stage and given that earnings announcements will bombard traders and investors with fury for the next few weeks.  At TheSteadyTrader.com we will guide subscribers through the earnings season by taking calculated trades as the opportunity arises, and should a trend in either direction re-emerge we will massage core holdings accordingly.  That's how we roll, have a look!S&P 500 Daily Chart
    Apr 17 10:55 AM | Link | Comment!
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