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JOYG: Do Not Be Long Near $78.65

July 8, 2008 12:11 AM

oilderrick.jpgOne of my calls to be long this Titanic market was JOYG. If you are long this stock, watch for a reversal around $77 or so here. it would have to clear $78.65 to have any chance of being long, and even then it would have to clear the high of $90.00. The easy money of up 3.03% has been made (up 4% from the open), dont be a pig. I gave the readers a 3% - 4% gift long, with a firm number to hold, as always. Have I mentioned in the last 23 seconds I believe in numbers? (Unless news).

With all that said, i still believe if you are long this market you are on board the Titanic. Take profits early and take them often. Take the 3%-4% profit long, exit, and wish the passengers good luck. But that is my view.

Written by Tom@StockBlade.com · Filed Under JOYG | Leave a Comment 

Stock Updates: XOM, AEM, XLF, CHK, AAPL, JOYG, GS, GOOG

April 3, 2008 4:51 PM

Most stocks are set up to break either way consistent with the overall market.

CHK is long above $42.15, nothing has changed. I said over a week ago it would have an issue near $48, and it has, and also said it wa likely to trade between $43-48 for quite some time, and it has. It has been in about a $2.00 trading range for 8 trading days. My bias is still long above $42.15 and caution near $48. Same story, different day.

XOM: Exxon took out a couple of key levels, but it has has issues inthe $90 area, repeatedly and I am not a fan of it up here. There is no hard number to be leary of except the all time high however.

AEM: This stock will be sold the second the trend breaks or gold falls off. This stock is a little more difficult to predict as it is traded as a “proxy” for gold prices, which in turn trades inversely to the dollar. This is a short waiting to happen up top however….so better have a quick break pedal if you are long this…

XLF: Not a fan of the financials up here unless we clearly take out the $27.50 range…too many brokers/banks have key points up in that range, and is why i said sell XLF yesterday at $27.10. It dropped a quick buck off that early today.

AAPL: Apple technically is all clear once we took out $151.20. There is caution up here though as I mentioned. Plenty of people that have been long Apple for 4 months…and sweating bullets every day would love to escape even. i also think people are far too optimistic on the Iphone as a competing product against RIMM. It isn’t even in the same class. The IPhone competes against personal use phones - not business - and RIMM is coming out with a touchscreen soon…. But the chart still says long….but have a quick exit if trouble…

JOYG: JOYG is an avoid up near $70.00, IMO. It has to clear $72.00 to be long in that area.

GS: I mentioned to be very careful Goldman above $180 the other day….and it backed off $182 range yesterday and slid all the way to a low of $172.88 today. It has to clear $184.52…and even then I am not a huge fan as it will have more issues near $200.

GOOG: Goog was an easy short today. it had to clear $475.74 to be long. Going forward, if it clears $432.01 there will be additional pressure put on. I said the other day I am simply not a fan of GOOG and expected it to reverse. Bingo.

Written by · Filed Under AAPL, AEM, CHK, GOOG, GS, JOYG, XLF, XOM | Leave a Comment 

StockBlade’s Numbers for CHK, AEM, JOYG, VLO, DE, XLF, GOOG, EK, AAPL, XRT

March 28, 2008 8:35 PM

Our numbers to be long or short/avoid long each stock were just updated. See Current SB Numbers on the main menu for the chart.

Written by · Filed Under AAPL, AEM, CHK, DE, EK, GOOG, JOYG, VLO, XLF, XOM | Leave a Comment 

Stocks that I have mentioned to be careful long….

March 24, 2008 1:12 AM

I have mentioned a number of stocks in the last two weeks to either avoid long, be VERY careful long, or to flat out short them. All have got crushed in recent days.

JOYG: I said short it the day after it made an all time high of $72. Today $62.04

WLT: I said short it the day after it made an all time high of $61.20. Today $54.10

 CHK: I said short it (twice) after it made all time highs at $49.87. Today $44.29

MON: I have strongly said avoid, avoid, avoid a number of times….it has plunged to a low of almost $90 Thursday

AEM: I said it was an implosion waiting to happen and to wait for a short signal. It has plunged from a high of $83.45. Today $67.19.

These are all moves within ONE week…and shows why you will eventually lose “following the crowd”, especially the crowd that is making raging bull noises on tv…. If you had bought all of these, you would be down over 15%….in ONE week….not good.

That is why I said short, avoid…or both……….. and Cramer was screaming long on both CHK and AEM….hmmm

Written by · Filed Under AEM, CHK, Cramer, JOYG, MON, Short Watch, WLT | Leave a Comment 

JOYG - Joy Global

March 16, 2008 1:47 PM

My long term charts suggest that we either just saw the March high for JoyG or it could explode to the upside. My short term charts suggest to take the former and exit the stock right here.

You could also short it here on a bounce to $70.50 with a hard stop above $72.00. The short side of this could be a tight trade or it could fall rather sharply. Charts have not confirmed this yet. In April I will have a better call on the longer term here.

$63.50 looks to be reasonably important here. If we could get under that, then $60.70 test would be in the cards.

Written by · Filed Under JOYG, Short Watch | Leave a Comment