$YHOO should find support …”should”

the last time we blogged for @seeitmarket about $YHOO we looked for pattern completion around 48-50. http://www.seeitmarket.com/will-yahoo-stock-top-alibaba-ipo-yhoo-13758/

since the highs we’ve corrected roughly 33 percent in the biggest correction since the 2008 lows.

today, we finished the first pattern BUY since the top and we also have 34 a little lower.

  • .382 retracement from 2008 lows w/ a projection (blue arrows) SHOULD be support.  we’ll see ….

if your a bull, these are critical levels.  also, note on the weekly, the RSI does not show bullish divergence at lows (blue arrows) – it hits the RSI low and then starts back up.  we “might” go lower on the RSI but bullish divergence isn’t needed.

YHOO weekly
YHOO weekly
YHOO daily
YHOO daily

Busy with @seeitmarket coming into the 2015!

Folks, what a wealth of information from Andy @seeitmarket …..

Here’ what I’ve been up to – check out the links and all of the amazing contributors:

  • the Banks … they lead us up and they lead us down.  PATTERNS suggest they are at MAJOR resistance and what this means for the overall market: http://www.seeitmarket.com/bank-stocks-near-make-break-point-2015-13986/
  • IBM … a complete laggard.  A case can be made, however, this a stock to own in 2015: http://www.seeitmarket.com/ibm-stock-reverse-higher-2015-investing-13980/
  • Copper … a BUY has been BULLISH for China and we completed an intraday BUY at the end of the year.  Perhaps a nice bounce is coming? http://www.seeitmarket.com/copper-prices-falling-buy-zone-13975/
  • the DOW … is it going up into 20,000 in 2015? As my loyal readers, you know I was watching the .618 projection from the all time low at 28.48 and it did not hold at all. so, the logical next target is the AB=CD and, folks, that’s up at 20K+  here’s the link … http://www.seeitmarket.com/dow-jones-targeting-20000-djia-investing-13972/
  • the TRANSPORTS …the AB=CD got crushed.  so, perhaps higher is in the cards: http://www.seeitmarket.com/dow-transports-move-higher-targets-13969/
  • YAHOO – will it stay or will it go? http://www.seeitmarket.com/yahoo-yhoo-sell-price-pattern-important-time-price-13965/

Enjoy and bookmark http://www.seeitmarket.com

Bart

YHOO important PRICE and TIME target hit (intraday)

so, did a post about the Alibaba ($BABA) fever and full expected that upper target up/around 48 to get tagged and then some selling to come in … well YHOO had been pounced lately (roughly -15%) and now we just completed an intraday SELL pattern as shown here:

YHOO SELL PATTERN
YHOO SELL PATTERN

 

so, here’s the daily pattern that hit …

YHOO DAILY 1.27 pattern into Alibaba IPO
YHOO DAILY 1.27 pattern into Alibaba IPO

in conclusion, need to watch this level very closely for weakness. if YHOO continues  up w/ strength then it might capture the upper 48 target posted here:

Will Yahoo (YHOO) Stock Top On Alibaba IPO Fervor?

let me know if you have any questions.

Bart

$YHOO, Rocky and TAP OUT

in the world I live in the chart is everything …

price and time and PATTERNS.  an amazing businessman, friend, mentor and excellent investor/trader and I are short YHOO.  he’s listened, studied and has seen the power of the patterns …the power in the fact that they manage risk.  BUY or SELL at the pattern level and decide how much to risk … pretty easy, correct?

well, tonight, I’ll admit I am tired …

as one of the few remaining BEARS out there I simply have to take stock of YHOO.  We are short YHOO and it’s held 33.50 for three months.  if you study the chart below and if your a candle guy or gal you’ll find that for 3 months the OPEN/CLOSE has been almost exactly at the same level.  pretty cool that the PATTERN identified has held the market at bay and yes, REAL capital has been deployed.  (note: I don’t know WHO this is going out to in the virtual world but everything that I blog is real time w/ real capital at RISK..) the bottom line — it HAS NOT sold off from this level.  I could go on and on about margin debt, cycles from the 1800’s, deflation, QE, talking head pundits and all of that “stuff.”  

so what do you do … ?  you go back to your training and objectively assess the situation.

1. in 2005 top there were, obviously, some very powerful intra-month swings for 3 months and then capitulation.

2. look at the lows in 2001-2003 – TWO YEARS of an up and down swing and then it explode from 4 to 44 dollars.

3.  mid 2006-mid 2007 we did the N correction (blue arrows) and then capitulation…note, we are at the same level as we were at the time of the thump in 2007.  coincidence?  no…I don’t think so…

so, if you think about it for 3 months we have been “in the money” and “out of the money” so what is the gameplan …?

1.  REMAIN SHORT

2. Expect 33.52 to potentially give away to the upside but the 36.25 area to hold and it sells off big time.

3.  IF we get a DAILY close above 38/we are wrong and STOP OUT.

now that I have presented my plan there is no “fret” or “guessing” just pure numbers …

look at that SEPTEMBER candle into 33.36 … we KNOW why it’s digesting in this area, but we don’t know if it’s going to crack and go to 16 …

last thing – note our low was 9 (3*3) and the .786 is 36 (6*6)

“it is always better to be out of the market wishing you were in, than in the market wishing you were out …”

believe we will find out, soon where this puppy is going ….

TAP OUT or put up the Rocky fight … TBD

make it a great weekend …Main20131108223604

B