Finally....

Wow, I have never been so late with a blog posting before! I am a day late but, thanks to my NZD/USD trade, far from a dollar short. I've been up since 3 a.m. catching up, and I am at long last going to do the post I wanted to do last night! (Technical Note: Blogger seems to be having major issues recently. I can't view comments, and I imagine none of you have been able to post. The lateness of this post is my fault, but the technical problems are not!)

If you saw the news last night, you should recognize what a scoop I provided with my bizarre BillyWitchDoctor.com post a week or so ago. That clip was from Aqua Teen Hunger Force and - wouldn't you know it? - they were the top story yesterday. No, I'm serious. There was a huge bomb scare in Boston, and it was due to a publicity stunt from our french dry/milk shake/meatball pals. Nice going, Frylock.



OK, back to charts. Today's entry is a little weird because I start pulling charts for it at 4 in the morning and was still doing so just 90 minutes before the close of the market. So this isn't a typical end of day commentary.

Kudos to those of you who took my NTRI suggestion seriously. This was a beautiful chart. It had a lot of good elements.....a major ascending trendline that had been broken.....a clear area of resistance.........a (sloppy) head and shoulders pattern. And it positively fell to pieces subsequent to my suggestion to check it out.


For those who didn't mind the risk, the rewards were handsome. Check out the action on this NTRI put - - up thousands of percent in just a few days!


Bulls in the stock market can take heart from the Transports. It looks like this has broken its clear bearish pattern. And, as I'm typing this, it looks like the market is headed to another solid close higher.


The S&P 500 is at the very, very top of its ascending channel. Any higher, and it's going to break above resistance.


Another cheer-up for the bulls is the MidCap 400. This is about as good a cup with handle pattern as you're ever going to see (my lame rendition of the pattern, in green, notwithstanding).


The Dow 30 seems to be headed for yet another closing higher today (the market's got another hour and a half open as I type this). But it's still below the ascending trendline is broke early last month.


For a bullish play, I like Genentech (DNA). The saucer shape and the volume both look positive.


CNX for a short idea.


Bank of America (BAC) is another good short idea. I closed my puts a couple of days ago at a profit, and it looks like it might be time to re-enter.


Sun Microsystems (SUNW), mentioned a month ago (or so) as a bullish play, is doing well. This is a gigantic saucer - just massive.


No one has commented on my FOREX suggestion (maybe there are only equity players here), but it's been doing amazing things. I've doubled my account balance in just a week based on this one currency.


I had never charted MWP before, but this is another good short idea.


McDonalds (MCD), shown here with Bollinger bands and the RSI, is a pretty safe bearish play.


And Google (GOOG), which announced earnings last night, is doing something really interesting - specifically, it's acting like a normal stock. In the past, whenever they had earnings, there were these massive gaps (highlighted here in green). There was no gap today - - although it's somewhat bearish for GOOG that yet another quarter of blow-out earnings is actually producing a down day (so far) for the stock.


My apologies to any of you wondering what took me so long to do the post. It's been nuts!

Remark on Comments: I think the geniuses at Google (Blogger) are busy counting their billions of dollars, because their site is sure a mess tonight. People can't even post comments. 90% of the reason I do this blog is to read people's comments, so please try again later. I want to hear what you have to say, and others do too!