Friday, May 13, 2011

New Highs For TRN and NAZ Very Likely Next Week

SGS is Long (as of close of 4/1/2011)
RTS 20110404 Long Portfolio (Bench Mark)
RTS is selling MEE and buying ERTS on Monday at the open. 

My LT Portfolio
I'm Selling BIDU and buying ERTS on Monday, not sure when, I'll post on FB.
My IT Portfolio
My ST Portfolio

Despite major indices selling off around 1% today (Friday), the broader market held up very well.  SPX closed above the active neck line (SPX 1336), still validating the recent inverse head and shoulder price formation.  SPX has also formed a falling wedge (thick green) which is a bullish price pattern and signals a  break out to test the recent high (SPX 1370) probably by late next week.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.