February 26th 2008
Trading Ideas for 2/26
Here’s a quick look at three shipping stocks that I think are worth your time. If the market continues its advance out of the triangle, these three stocks are poised to move.
The weekly patterns for all three stock are positive. Each has bounced off the 50 SMA and is consolidating. I would like to see each closer to a 52 week high, but alot of damage was done over the past few months.
Good Luck!
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2 Comments »
Options Strategery on 26 Feb 2008 at 3:06 pm #
The key is ‘if the market moves out…’. There are a lot of similar charts out there. I still don’t know why the market is so positive in the face of a constant onslaught of bad economic numbers.
Jonathan on 26 Feb 2008 at 6:53 pm #
I’m just trying to remain flexible.
I agree on the economic concerns. I don’t know where the spending is going to come from to keep the economy going when so many people have been locked out of the equity in their homes. It’s unfortunate that our economy has become so dependent on consumer deficit spending.