Reviewing stock market chart trends for Apple Computer (AAPL), Research In Motion (RIMM), Las Vegas Sands Casino (LVS), and Conoco-Phillips Oil (COP)
Below are some charts I saved for blog discussion. If you think I’m wrong about the direction of the stock then explain your “why” in the comments or if you think I’m right let me know also.
Below is RIMM’s Daily and Weekly chart.
First is Research In Motion (RIMM). Recently a large sell-off has probably been influened by a lot of reasons 1. Feb Bernanke comments, 2. Apple taking market share and AAPL self-off, and 3. Jim Cramers Mad Money showing saying to sell RIMM probably got fragile investors going. RIMM earnings aren’t until April 2007. Since the market is turning over right now and many over bought and higly priced stocks are getting a lot of profit taking. As you have seen with AAPL and RIMM as soon as fear is shown and investors are worried about loosing profit more selling happens bringing in a new trend of selling with worried investors. Just recently Fed Bernankes comments of a “fiscal crisis” is not what positive optimistic investors wanted to hear. That is a great reason to start buying Puts on all your favorite stocks.
Below is AAPL’s Daily chart.
You can see Apple Computer’s doji star reversal sign with a opening low gap after earnings. You can also see volume being sold off and changing direction. For the past 5 years AAPL has moved down after Q1 earnings even if beating analyst. I expect AAPL to open lower again 1/19/07. It might move higher, but end lower.
Below is COP’s chart.
Conoco-Phillips has been trading sideways with good size Call and Put trades going both ways. Currently I think COP is going higher even with the recent Crude oil at below $50 BBL. We are going to be hitting a support level soon on crude. They oil companies are going to pay off congress or something. It will happen and oil will go higher again probably to $60. There has already been reported a cold-wave coming through the states and oil prices/bills are going to rise for next quarter. I think COP, as a company, stands out. This Call position might be too early. There is room for error here that COP could go lower, but I think my entry point is on the money.
Below LVS’s chart.
Las Vegas Sands Casino company has done quite well and still growing. I remember when this stock was only $60. At that time it’s trend was going up on all charts. I was buying other options most likely for AAPL and some stocks I regret now trying to get more growth when LVS would of did it all with FXI. I think some profits are going to be taken off the table and this stock will be pushed down to $100 again before it moves higher unless it trades with the rest of the market down.
well let me know your thoughts to discuss leave a comment.
thanks, finance ninja