Dow Jones Industrial has climbed back over 8100 level.
It has approached the downtrend line very closely. Although there’s a chance for it to break the downtrend line, but before it happens, I’d rather to sell into this strength to build more cash position.
How much will the market continue to rally? All major markets are quite extended after going straight up for almost two months.
It’s quite possible that it continues to move up, but I would sell into the strength to take some profits.
HNP is now in overbought condition. However, the volume has picked up a little. The next resistence is around 32. I’m ready to sell my May 30 calls.
HNP is now in overbought condition. However, the volume has picked up a little. The next resistence is around 32. I’m ready to sell my May 30 calls.
LFC reversed a little bit after it gapped down when the news came out about SEC formal probe.
SUNW is under pressure after today’s downgrade. I would close my position if it drops below 5 (It lost over 5% today, previously it’s 25% gain). I was tempting to sell it at 5.5 last week, but changed mind at last minute as I was thinking that it might break out from 5.5. I guess that there were people who were unloading positions around 5.5 to keep it under selling pressure. I would be a buyer again at lower price, say 4.7.
HNP resolved this triangle to the downside.