Hot Spot Charting

Up,down or sideways? Review the charts for any clues that may help you with your own research. Thinking for yourself can be a pleasure and developing and applying strategic stock market research skills could give you the edge...

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Friday, November 03, 2006

THE BULL CASE

Slibe.com - Free Image Picture Photo Hosting Service QQQQ, weekly chart has the potential to produce an
inverted H & S pattern...

Slibe.com - Free Image Picture Photo Hosting Service DJIA, weekly chart could consolidate with sidewise progression before moving higher...

Slibe.com - Free Image Picture Photo Hosting Service $RUT, has the potential formation of a cup & handle...

Slibe.com - Free Image Picture Photo Hosting Service A long term look at the Q's shows that it has been in a three year channel...


Happiness is not a goal, it is a by-product.
"Eleanor Roosevelt"


Thanks for visiting...


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EMAIL- hotspotcharting-ook@yahoo.com
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$VIX


Daily...


Weekly...

I will be traveling today and unable to blog
until this evening.
Thanks for your emails and kind words...


00K



EMAIL- hotspotcharting-ook@yahoo.com
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Thursday, November 02, 2006

2/21

Some traders use only the 2/21ma's.
No candles needed but beware of fakeouts...








Thanks for visiting...

EMAIL- hotspotcharting-ook@yahoo.com
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The labor market

Online job ads flat in October, Monster says (Marketwatch.com)
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B8C5D2F5D%2D86FB%2D485A%2D83A0%2D9A3A147763F7%7D&source=blq%2Fyhoo&dist=yhoo&siteid=yhoo



Not responsible for content found on other sites...

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EMAIL- hotspotcharting-ook@yahoo.com
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Channeling stocks under $5

(Click any chart to enlarge)













"I do not know with what weapons World War 3 will be fought, but World War 4 will be fought with sticks and stones."
--Albert Einstein

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EMAIL- hotspotcharting-ook@yahoo.com
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HOT SPOT CHARTING

U.S. Sept. factory orders rise 2.1% vs. 3.8% expected (Marketwatch.com)
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BFF6BC108%2D2916%2D4E26%2D8677%2D8CE1D7C77217%7D&dateid=39023%2E4169237616%2D883999967&siteid=bigcharts

European Central Bank holds key interest rate (marketwatch.com)
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B9F142E70%2D8B89%2D4C3D%2DBD78%2D98009F6FAC50%7D&tool=1&siteid=bigcharts&dist=bigcharts
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Wednesday, November 01, 2006

In the Spotlight...

November 02, 2006
Initial Claims
Productivity-Prel
Factory Orders

November 03, 2006
Nonfarm Payrolls
Unemployment Rate
Hourly Earnings
Average Workweek
ISM Services




EMAIL- hotspotcharting-ook@yahoo.com
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RALLY on THURSDAY?

Why not?






Charts and comments are NEVER INTENDED AS ADVICE...

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EMAIL- hotspotcharting-ook@yahoo.com
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KICKIN' THE TIRES

(Click any chart to enlarge)

Toyota, very small gap left before major overhead
resistance...


GM, testing major overhead resistance...


Ford, bulls were trapped in September.
Major overhead resistance...


Daimler Chrysler, testing major overhead resistance.
Gap, gap, gap...


When I'm bearish and I sell a stock, each sale must be at a lower level than the previous sale. When I am buying, the reverse is true. I must buy on a rising scale. I don’t buy long stocks on a scale down, I buy on a scale up.
"Jesse Livermore"


Thanks for visiting...

00K


EMAIL- hotspotcharting-ook@yahoo.com
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Tuesday, October 31, 2006

Covered Calls & Retail Index Charts


Covered Calls Fund, broke lower on heavier than normal volume...


S&P Retail Index, perhaps looking toppy...


S&P 500 Retail Industry Group Index,
Ending wedge formation with some negative
divergence on the rsi & macd...

00K

EMAIL- hotspotcharting-ook@yahoo.com

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CHIP GLUT?

Intel, Texas Instruments May Face Chip Glut
as Holidays Loom (Bloomberg.com)
http://www.bloomberg.com/apps/news?pid=20601087&sid=alGJJnX8OrSU&refer=home

(Click any chart to enlarge)




(Not responsible for content found on other sites)

00K



EMAIL- hotspotcharting-ook@yahoo.com

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Trick or Treat at the BATES MOTEL



Dow Jones US Hotel Index:


The weekly chart is showing that this index is
at overhead resistance...

(The hotel stock charts below use a daily format)


Testing overhead resistance while showing
some negative divergence on the oscillator's...


Testing overhead resistance on declining volume...


Will FCH overcome its 50 & 200ma and keep the
uptrend channel intact?


Potential bear flag.
Note the recent distribution days...


Pennant. Watch which way it breaks...


Broke downwards from a raising wedge...


Mean reversion comes to mind...


Charts and comments are NEVER INTENDED AS ADVICE...

Have a great Halloween!

00K

EMAIL- hotspotcharting-ook@yahoo.com
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In the news (Links)

WASHINGTON (MarketWatch) -- U.S. consumer confidence dipped unexpectedly in October on growing pessimism about the job market and the economy, the Conference Board said Tuesday.
http://www.marketwatch.com/news/story/Story.aspx?guid=ad67bb8b-ce2d-42af-86d6-0386d248d1a0&siteid=mktw&dist=morenews

WASHINGTON (MarketWatch) -- The Chicago region's economy weakened sharply in October with a worrisome rise in inventories, according to the Chicago purchasing managers' index released Tuesday.
http://www.marketwatch.com/news/story/Story.aspx?guid=a0d95bd2-2a99-48db-bec7-8eb5e32a8d42&siteid=mktw&dist=morenews

WASHINGTON (MarketWatch) -- Consumer sentiment strengthened slightly in late October, according to media reports Friday of proprietary research from the University of Michigan.
http://www.marketwatch.com/news/story/Story.aspx?guid=aa484c08-c8e6-4ef7-b42d-7387548fd862&siteid=mktw&dist=morenews

UBS Reports 21% Decline in Profit on Trading Slump
Oct. 31 (Bloomberg) -- UBS AG, Europe's biggest bank by assets, said third-quarter profit fell 21 percent, missing analysts' estimates after trading revenue dropped at its securities unit.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWEFcP22LU2g&refer=home



There are nights when the wolves are silent and only the moon howls.
~George Carlin


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EMAIL- hotspotcharting-ook@yahoo.com
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Monday, October 30, 2006

Booo....

Let's try halloween orange.

(Click any chart to enlarge)

A look at a few hourly charts before tuesday's open...


QQQQ, rebounded a bit from fridays decline.
Closed below support...


IWM, closed at the 21ma but took heavy selling
an hour before the close...


SPY, stayed below its 21ma all day.
Watch which way it breaks...


DIA, closed at support. Note the RSI turned
back at the 50 line...


Just like a ghost, you've been a-hauntin' my dreams,
So I'll propose on Halloween.
Love is kinda crazy with a spooky little girl like you.
~Classics IV


Thanks for visiting...

00K

EMAIL- hotspotcharting-ook@yahoo.com

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Percent of stocks above 50dma......


NASDAQ...


S&P 100...


S&P 500...

Charts and comments are NEVER INTENDED AS ADVICE...


00K


EMAIL- hotspotcharting-ook@yahoo.com
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Upcoming Expo's

Futures & Options Expo 2006
http://www.futuresindustry.org/expo2006-2658.asp

The Traders Expo Las Vegas
http://www.tradersexpo.com/tradersexpo/lasvegas/main.asp

(Not responsible for content found on other sites)

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Volatility Indexes




The Volatility Index, which shows the market's expectation of 30-day volatility. It is constructed using the implied volatilities of a wide range of S&P 500 index options. This volatility is meant to be forward looking and is calculated from both calls and puts. The VIX is a widely used measure of market risk...

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EMAIL- hotspotcharting-ook@yahoo.com
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Sunday, October 29, 2006

Click any chart to enlarge...

Japan's Industrial Production Slipped 0.7% From Record in Sept.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeyQ6hABlgVI&refer=home

Shares of Rinker Group were up sharply Friday following Cemex’s bid to buy the Australian company for $12.8 billion.
http://www.forbes.com/business/2006/10/27/cemex-rinker-update-markets-equity-cx_mk_1027markets12.html




RIN & CX charts are provided to accompany the story above...
(Not responsible for content found on other sites)


Brief review of RSI & MACD indicators...

The Relative Strenghth Index-RSI, is a technical momentum indicator that compares the magnitude of recent gains to recent loses.
Buy and sell signals can be generated by looking for positive and negative divergences between the RSI and the underlying stock.
The RSI is best used when combined with other stock-picking tools...

Moving Average Convergence Divergence - MACD, is a trend following momentum indicator that shows the relationship between two moving averages of prices.
1. Crossovers - As shown in the chart above, when the MACD falls below the signal line, it is a bearish signal, which indicates that it may be time to sell. Conversely, when the MACD rises above the signal line, the indicator gives a bullish signal, which suggests that the price of the asset is likely to experience upward momentum. Many traders wait for a confirmed cross above the signal line before entering into a position to avoid getting getting "faked out" or entering into a position too early.
2. Divergence - When the security price diverges from the MACD. It signals the end of the current trend.
3. Dramatic rise - When the MACD rises dramatically - that is, the shorter moving average pulls away from the longer-term moving average - it is a signal that the security is overbought and will soon return to normal levels. Also watch for a move above or below the zero line because this signals the position of the short-term average relative to the long-term average. When the MACD is above zero, the short-term average is above the long-term average, which signals upward momentum. The opposite is true when the MACD is below zero...

To know is to do!
"Socrates"

Thanks for visiting...

00K




EMAIL- hotspotcharting-ook@yahoo.com
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Let's look at a few restaurants...

  • Monday's HOT SPOT CHARTING short candidate

    OSI May Restate Results Over Gift Cards
    Potential liability for the restaurant chain is estimated at between $20 million and $40 million.
    http://www.cfo.com/article.cfm/8097376/c_8098516?f=home_todayinfinance


    CAKE, closed at support...


    CPKI, closed at support. RSI moved below trendline.
    Note the recent massive distribution day...


    LNY, upwards channel but turned away at resistance.
    Watch which way it breaks...




    The big money is made by the sitting, not the thinking.
    Once a position is taken, the hardest thing to do is to be patient and wait for the move to play out.
    "Jesse Livermore"


    EMAIL- hotspotcharting-ook@yahoo.com
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