Seeking Alpha

steadytrader's  Instablog

Send Message
Serge Berger is the Head Trader at Blue Oak Advisors LLC. and runs the Daily Financial Newsletter and Chat-Room Service at 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
View steadytrader's Instablogs on:
  • S&P 500 Inverse Head & Shoulders Pattern?
     I'm not going long on this basis along and need more confirmation, but note the inverse head & shoulders pattern in the S&P 500.  The SPX currently also sits right at the 50 day moving average (yellow line) and this morning is gapping up 0.7%.  I need more confirmation to go long, but for now this is an interesting discovery.  An ultimate final target of this inverse head & shoulders pattern would also be around $1340, which is the high-end of the $1380 - $1340 final upside target I currently see for the SPX.  Funny how these things work huh?
    S&P 500 Inverse Head & Shoulders Pattern
    Apr 13 9:36 AM | Link | Comment!
  • Chesapeake Energy (CHK) Failing At Important Levels
    Yesterday I scribbled about the nice consolidation phase in CHK and how above $34.60 I could be a buyer for a bucket 2 trade, see here

    Today's price action is entirely different and all the more important to note.  Today CHK broke below an uptrend line in place since last December, as well as the 50 day moving average (yellow line), and as such also fell out of the narrowing trading range mentioned in yesterday's blog post.  

    While I still like the name longer term, I will only commit any capital to longs above $34.60.  More specifically, what we are discussing in the chat-room is a bucket 2 short trade.

    Apr 12 2:57 PM | Link | Comment!
  • Altria Group (MO) All-Time High A Fade?
    Yesterday MO made a new all-time high and as such closed above last November's high. With earnings coming up on April 20th and the stock having had the massive move up, the question I am asking is whether it is worth trying to fade this potential double-top formation.  Fundamentally speaking I can see demand from emerging economies increase (or at least remain stable), as new generations of smokers turn up for the toking.

    Technically, yesterday's close left a fairly suspicious bearish looking candle at an all time high and today's candle so far looks no better.  Additionally note how far from the 50 and 200 day moving averages the stock has moved.  i am not one for holding many bucket 2 positions into earnings and I don't plan on doing so here either.  

    What I wrote in today's Morning line-up and we discussed in the chat-room was more along the lines of a quick bucket 2 short ahead of the earnings and being back out flat before the numbers. Yes, exact levels were discussed.

    Tags: MO, altria
    Apr 12 11:58 AM | Link | Comment!
Full index of posts »
Latest Followers


More »
Posts by Themes
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.