ICE, WCC with new volume and buy point

Let me start this out by saying that this information is nothing but educational. Since I am not a registered investment advisor, I cannot claim this to be any offer to buy or sell a stock and any information that is conveyed is merely educational. Now that I got the legal &%$ out of the way, here let's learn how to make money.

So what do you think of the Dow Jones closing above the highest level in 5 years? Not bad, eh? Just when I said yesterday to watch out because the market looks overbought. Proves that even I cannot predict the direction of the market just like those big "investment gurus." I believe the impetus for the rise was oil's drop below $70/barrel. It fell over $2.50 to $68.50-something. If that is so true, why the hell isn't Bush receiving kudos for bringing the price of oil down. Ought to be the opposite of the Donkeys bashing him for the high price of fuel earlier this year. Hmmm, laws of supply and demand do play a role in the price of oil. Of course, I'm waiting for the typical whining from the Donkeys to claim that he's forcing the price of oil down right before the elections. Well look at a chart, Donkeys. It has been dropping since May. The drop couldn't also be from the fact that the US supply is at an all time high and people have curtailed driving. Nah!

OK, OK. Political diatribe over. Let's look at what happened to the suggestions:

LTM got filled at $46.36 and closed at $46.87.
WDC got filled after a gap down. Trading volume was slightly above normal so this is still OK, but kind of puts a damper on the potential for the stock to rise.
HSR missed the fill and closed up more than 8%. I would still put in a buy range of 8.50 to 9.50
FMCN closed down on weaker volume. That is still OK so keep the price target of $61 with the Sell Limit order.

Now be careful with this next one. I have my eye on WCC (note this is different than the WDC stock that got filled today) WCC had a jump today in trading volume way above average. It also closed above both the 50 day and 200 day moving averages. This makes this trade a long-term trade. I would trade this up to $64. This one is a bottom-feeder just like HSR. The constant bounce of $56 in the past four months makes $56 support. clicking on the image to the left enlarges it.




ICE has just popped out what is called a cup and handle. The handle is being completed right now and it has worked through all of the resistance to rise to new highs. Buy range of $77 to $80 is feasible.

Good luck in learning. Learn Democrat, Earn Republican as my friend once told me.