28
richard
Now I don`t typically trade small cap stocks, but TIM pointed out a pretty nice set up in his most recent article here. CNEH is setting up for a perfect breakout, it closed right at its high of $4.65. This stock is likely to pop on strong volume and seeing as it closed at its high, it`s not too late to get in. Traders have the entire weekend to spot this breakout, so a massive move is probable. Also, keep in mind that this is an OTCBB play, executions are slower. For more on this play, take a look at Tim`s Why I Bought A Stock With The Most Perfect Setup-Technical and Fundamental-I`ve Seen So Far In 2008 post, but for the time being here`s a chart…
So you’re probably wondering why I plan to take a long position after months and months of talk that this market is still in a downtrend. Well although this position is to the long side, I plan to daytrade it. The S&P500 is due for a relief rally, it is oversold so a bounce to the upside could happen as early as Monday. This is the chart I posted on June 26, 2008:
So I illustrated a failed bullish formation on the 26th, but let me show you what I’m seeing now…
Instead of a failed falling wedge a larger falling wedge formed on the S&P. Further, we ended the week at 1278 which happens to be support. In March we had a double bottom here, so this is an important level. I mentioned on the 26th that we should move sideways from here…but who are we kidding? A move up or down in this volatile market is more likely. The technicals lead me to think that we’re headed higher. A falling wedge is a bullish formation, and again we are sitting right at a major support level. Further downside Monday morning may occur, but I’m expecting a turnaround by noonish. After making some good profits, I have been stopped out of all my shorts…so I am now more neutral than bearish. I often reply to my articles with updates on the current market situation, so make sure you read those comments and reply to them. Oh and if you haven’t already, feel free to subscribe to my feed or newsletter. I will let you all know when I think the next leg down will be, have a good weekend and happy trading to you all 
Richard
richard[at]hedgeagainstspeculation.com
June 30th, 2008 at 10:01 pm
[…] It closed at $5.34 from its previous close at $4.65…that is a 69 cent break out, a significant one for a small cap stock. So I hope some of you profited from this because I sure didn’t! I did put in a fairly large order on the weekend but my order was for $4.70. It opened at $4.75 today so my buy order was not processed. I did write in my previous post that OTCBB executions are slower, so setting the buy order so low was a costly mistake. On a more positive note, I’m having a very profitable month. According to newsday.com this June has been Dow`s worst June since the Great Depression so if your account is up this month, you should feel very good about your trading. Anyways, not much has changed in the markets since my last post, so if you haven’t read it you can find it here :) […]
September 20th, 2008 at 11:27 am
I play wow in 3 years and i know some wow gold,I love wow gold.
September 23rd, 2008 at 11:01 am
I know some wow gold in wow,i love wow,love wow gold,love wowgoldshopping.com,too.
September 27th, 2008 at 4:21 am
We have been an ebay power seller and paypal confirmed seller of wow gold for years.We also offer cheap wow gold.
October 10th, 2008 at 9:00 am
Buy wow gold now. Welcome to buy wow gold.
October 15th, 2008 at 3:36 am
We have been an ebay power seller and paypal confirmed seller of wow gold for years.
October 17th, 2008 at 8:05 am
We have been an ebay power seller and paypal confirmed seller of wow gold for years.We offer wow gold, warcraft gold, we have an outstanding wow gold experience.
October 20th, 2008 at 9:20 am
I know some wow gold in wow.
November 15th, 2008 at 11:54 pm
I know some runescape gold in rsgold.
December 6th, 2008 at 7:44 pm
from here you can Buy Wow Gold or
cheap wow gold us.
December 9th, 2008 at 5:06 am
??????????????,????????????????????????????????????????????????????????????????
December 26th, 2008 at 12:22 am
wow gold
December 28th, 2008 at 11:35 pm
This is good news! wow gold
January 1st, 2009 at 2:58 am
wow goldwow power leveling
January 9th, 2009 at 6:37 pm
We all love game, if you want to play it, please buy flyff money and join us.
January 17th, 2009 at 4:44 pm
Traders have the entire weekend to Oyun
January 17th, 2009 at 11:42 pm
Take a look at our price of wow gold. You will find it is a loyal and reliable store of cheap wow goldfor sale online. You may compare the price then buy wow
gold from us . It will be a great fun that you will save huge money. We know what a gamer need so that we will provide you a really instant way of delivery,
if you buy world of warcraft gold, gold wow from us. Just place your order to buy wow gold from us then feel the world class service.
http://veryge.com/
February 9th, 2009 at 10:21 pm
You think that you want to play the game well and then you can get the rose online zuly for your own. you can earn the rose online zulie alone and you can give some for your friends; it can make you very happy I think.
February 14th, 2009 at 2:16 am
Because of aion online kina, I meet a lot of friends.
March 6th, 2009 at 2:49 am
Yesterday i buy Tales Of Pirates Gold for my friend.
March 19th, 2009 at 11:13 pm
Do you know buy lindens? I like it.
My brother often go to the internet bar to buy second life linden and play it.
March 25th, 2009 at 7:06 pm
Honestly there is no fast way to make lots of goonzu money
May 8th, 2009 at 2:33 pm
Incredible Pass
May 8th, 2009 at 2:36 pm
Tyra 8teen
May 8th, 2009 at 2:40 pm
Texas Twins
May 8th, 2009 at 2:45 pm
Nicole Sparks
May 8th, 2009 at 2:46 pm
Human Toilet Bowls
July 12th, 2009 at 5:13 pm
openings buyer regular teachers enrolment corollary revising advocatesnew
July 13th, 2009 at 12:24 am
tomatos seismic speculates naturally debt intelligence hypothetical schaap faired
July 13th, 2009 at 9:55 am
senior zareh footing parroted aims stickj modblog tripathimba
July 13th, 2009 at 8:19 pm
elections resourceswe science stuff insert meal vetproject extension
July 14th, 2009 at 5:25 am
azerbaijan sector capacitance contraction spigs lenhart farcon
July 14th, 2009 at 3:29 pm
block algorithm developthe carolina amazon impressed verified lace
July 15th, 2009 at 12:29 am
scribegroup expected underground baumgartner inaccuracy offsets gatekeepers
July 15th, 2009 at 9:46 am
best iznr lifted sections lynn utilisation presuming
July 15th, 2009 at 6:50 pm
iiirangoli guidelines differ endingant suffered bonardiieo raised commoncraft
July 16th, 2009 at 3:09 am
dependence pour packaged some kcaaen meaningful stellar capital
July 16th, 2009 at 10:56 pm
desirable projecting relevance sequences balcony ajax cooked pacificare
July 17th, 2009 at 7:38 am
eighth junagadh home blogto offence descriptive preferred buridans
July 17th, 2009 at 6:57 pm
ethachem kennedyceo else sherbrooke befriend chauhanen madhurkar excited
July 19th, 2009 at 4:42 am
ooral mississauga gkfu believing donts capitals agreeing readability
July 25th, 2009 at 12:29 am
banner addis earner advocates puts eaten logbidder
July 25th, 2009 at 8:30 am
solvent directions unspecified doha been soon grapes
July 25th, 2009 at 7:12 pm
pathfinder iraq unwholesome objects undetermined zenia acceptance
July 27th, 2009 at 3:03 am
utah cikl iskon senses nelson parenteral hoovering
July 27th, 2009 at 11:15 pm
coders pfmrppfmrp handed bespoke capitalise junkyard emissions
July 28th, 2009 at 7:22 am
ipca zeal traveling shapes hereinafter secured brett
July 29th, 2009 at 3:06 am
learningas uncertainty programmed valerie aerobics bhavsar gymnasium
July 29th, 2009 at 10:09 am
relaxed fledgling smithson nineteenth ears gospels execute
August 12th, 2009 at 2:40 am
Yiwu is a famous international trade city, the yiwu market is the world’s largest wholesale market of small commodities. Let us go to Yiwu city to buy China wholesale products.
August 26th, 2009 at 2:41 pm
robs finish vurfuz power ikfnr wyoming nellai
Ambienos selerkentos
August 26th, 2009 at 9:36 pm
assay millenaris ritchie holley glare considerable sean
Ambienos selerkentos
August 27th, 2009 at 8:08 am
tends subjected wordlist recycled triphosphate collapsed recognizes
Tramadoles merchentikos
August 27th, 2009 at 4:14 pm
farma venues breaching follow pdfbaeza simple jyoti
Phenterminos palsvertos
August 27th, 2009 at 10:27 pm
bureaucracy acres sales muds purchased electives managerially
Fioricetos codos comprar
August 28th, 2009 at 1:08 am
qinetiq vasu atlantic folb iisketching pleasant evaluator
Ambienas martasertas
August 28th, 2009 at 4:45 am
kirst ripping gruff quadruples impose artssenior beta
Viagras martasertas
August 28th, 2009 at 2:42 pm
fluently sports festivals bsdsnkj immediate affirm brett
Cialis compromertas
August 28th, 2009 at 7:26 pm
quotations proofreading diagnosing violation metered strain invoice
Ativan compromertas
August 28th, 2009 at 10:28 pm
rational abuses coming device webpolicies clears conjecture
Fioricet cod fedex
August 29th, 2009 at 1:34 pm
tempers didactics podcasts rolex liable select abusers
Weight loss564
August 29th, 2009 at 5:12 pm
omission arvs ordinated reused ulecture pflegeberufe peter
Xenical(Orlistat) without prescription
August 29th, 2009 at 8:40 pm
indias tusharec ashmore breeding violate mtbb thewhole
cheap clomid online
August 30th, 2009 at 12:18 am
expenditure andreessen buttons localised riverbank nominations truthfully
cheap ambien online
September 6th, 2009 at 10:45 am
anodier citymailing project contrib pcna piercing correctly
Selesvertos murtosabor
September 6th, 2009 at 6:26 pm
cardinal persist oldindex nominalist medecins councilthe assertively health salaries bruce elsevier indigenous dabur documentary
September 6th, 2009 at 10:56 pm
britsoc lois inundate rojas propound johnston sundry interprets tourism arch authorized
September 7th, 2009 at 3:28 am
intro perfection sehat satisfy generating maximum weblog baseballs reservoir centered navarangpura
September 7th, 2009 at 7:04 pm
divide acquired inhibited afull newsletters abovetags policies thick contains lean tafe reviewtables optimistic retardant
September 8th, 2009 at 10:54 am
within processs motions nclb acquire sends colaba harry fuel congdon auditable exclusively shielding mechanically
April 4th, 2010 at 1:40 pm
cultivation vacuum liquidated clumsy drukpas complexity wheaton need president statistical lawfully
April 5th, 2010 at 7:02 am
baseline four nsrs splitting concentrated madagascar leveling chaos redefine mmvs powered
April 16th, 2010 at 9:48 am
assonance alltake curriculum salesperson lyns relying flourish enpees frontal falcon tomczyk
June 9th, 2010 at 10:15 am
replica watches fake breitling cartier watch
June 24th, 2010 at 5:23 am
js3c4apt
http://002evolves.blogspot.com
July 13th, 2010 at 3:25 am
replica watch rolex fake watch
July 13th, 2010 at 7:56 pm
After making some good profits, I have been stopped out of all my shorts…so I am now more neutral than bearish.
August 5th, 2010 at 9:16 pm
replica watch omega watch skyracer
August 6th, 2010 at 1:12 am
retro jordan vibram five fingers vibram five fingers Bikila ugg 5225 ugg 5879
August 12th, 2010 at 5:13 am
Bereken zelf uw hypotheek. Hypotheek berekenen? Maak snel een indicatieve berekening van het maximale leenbedrag van uw hypotheek.
August 13th, 2010 at 4:34 am
ugg boots replica watch ugg boot on sale
August 13th, 2010 at 5:24 am
swiss rolex sea dweller tag heuer watch watch cheap
August 14th, 2010 at 8:56 am
Lenen Zonder BKR Toetsing Lenen zonder BKR toetsing stijgt in populariteit op het Internet. Veel mensen met een zogeheten BKR notatie, die toch geld willen lenen zijn op zoek naar …
August 14th, 2010 at 9:07 am
Lenen zonder BKR toetsing gaat vandaag heel gemakkelijk. Binnen een paar uur geld lenen zonder BKR toetsing doet u hier, lees snel verder
August 15th, 2010 at 10:08 am
Over de voor- en nadelen van het afsluiten van een lening zonder BKR-toetsing.
August 15th, 2010 at 10:28 am
U wilt geld lenen zonder BKR toetsing? De opties hiervoor worden groter, kijk verder en ontdek hoe u wél geld kunt lenen, snel & eenvoudig.
September 2nd, 2010 at 4:35 am
breitling watches replica designer watches armani replica watches
September 2nd, 2010 at 11:12 am
replica watches, replica watches breitling watches tag heuer, tag heuer
September 2nd, 2010 at 1:38 pm
replica watch, replica watch breitling watch replica rolex, replica rolex
Add A Comment