The Crystal Ball...Monthly Chart Musings...by Eric F

I have a Crystal Ball and it works! Only in hindsight J… Here it is I pondered if BRCD would run to $8 on 4/15 before what I consider to be a bear market rally runs out of steam… http://spiketradeblog.blogspot.com/2009/04/brcd-bull-or-bear-y-eric-f.html Looks like the rally has got more room to run. But the BRCD daily chart is flashing some interesting signals…I digress, I don’t want to get caught up in semantics, I don’t really like to use the term bull market or bear market, it is sort of like a label because I can be both based on what time frame I am looking at. I think the market is either trending higher or lower or chopping about going sideways. All I can say about this week is WOW! What goes up fast tends to come down fast also! I would not be surprised to see all these gains wiped out to set up a “double bottom” for some… at this intermediate pull back point…”We shall see said the blind man” is my mantra. The monthly indexes are showing the uptrend to sideways chop is intact and I figure it will likely be several months before value is reached and another major direction may be set...

Now back to the BRCD chart at hand…Not sure when this thing will run out of gas but it is looking to me like a weak advance…The 52 week high lies at $8.42 all former gaps in the daily are now closed…Somebody once said- “sell new highs”…Looks like a short opportunity may be coming in this one…

Good Trading,

Eric F

Wrestling with BRCD - by Eric F

Just wanted to revisit the BRCD trade idea I suggested back on 4/15-16 here on this blog: http://spiketradeblog.blogspot.com/2009/04/brcd-bull-or-bear-y-eric-f.html

Now the exit is so much more difficult than the entry in my opinion! Today I was 30 cents from Target #2 and it was dark cloud cover on large volume. It looks like it is going sideways here at $6 and its stretched from the EMA’s.

I told myself yesterday to watch the open but intentionally slept in and sat on my hands again. I know the gains at some point will need to be consolidated…when is the question and at what price. The stretch goal is $8…but I don’t have a crystal ball that works!

As I have said before- I hate Targets! I just want to sell when the chart says “Sell” on a technical exit or when the moving stop loss is hit…

Any comments or analysis would be appreciated.

Good Trading,
Eric F

BRCD - bull or bear? - y Eric F

I wanted to post the BRCD chart since I think something interesting is going on…We have enjoyed an incredible rally for the last 5 weeks- among a long list of others. The question is - is this going to continue or will we see a major pull-back…

Looking at the hard right edge it looks like another jumping on point, but I may be the greater fool…I post the weekly and daily chart below. Once it fills a gap at $5 it can go to $6.50 without much resistance…who knows before this bear market bounce is over it may just go to $8 where it either tests a gap in the daily chart or fills it…


WEEKLY CHART- pulling back this week- does the trend have further to go or is it topping out? Price targets at 5 to 6.5…

DAILY CHART… Sorry for the large and busy chart- but this is what I got used to looking at…Overbought and pulling back…Oscillators are resetting but the big question is the trend?

Disclaimer: I am long BRCD…