Thread: coolhand's Account Talk

Originally Posted by coolhand

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After finding support along its 200 day moving average, CLX has pushed through the first area of resistance (Leading Span B), crossed the Standard Line (weak bullish cross) and has bounced off the Leading Span A Line (resistance) the past two trading days. MACD still shows upside momentum and RSI is positive, but price could turn back down soon if it can't break through resistance. Technically, CLK is in an intermediate term downtrend and seasonality is weak, so I'd be inclined to sell for a short term gain.

I don't get a lot of time to post during the day (I still have a day job), but when I get a chance and want to share something I try to do at least a quick post.

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Back in September I showed a chart of CLX and while I don't currently have it as one of my model portfolio stocks, I track it nonetheless. It's a good long term buy and hold stock. As I mentioned in September's post, price had to get above the cloud (resistance) if it was to attempt to break out of its downtrend. It took a few more weeks, but look at the move it's made of late. That's what I like about large, solid, dividend companies. They don't generally fall apart. Patience is often rewarded in this market sector.

As you may know, I bought IBM last week and it's making a move higher currently. BP, another stock I own, is breaking out. If you had bought Nestle a while back, you'd be in the money too. ABT, UL, and Coke are moving up too. Yesterday, I bought EXC, which I have been pointing out in my premium service was at multi-year lows. It appears to be trying to breakout now too. Here's some updated charts:

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I know many of you are focused on leveraged instruments, but there are other, less stressful opportunities. I would recommend allocating some of your portfolio to another strategy such as dividend investing. It's another way to diversify your risk. By the way, I bought some EXC yesterday.

"I know many of you are focused on leveraged instruments, but there are other, less stressful opportunities. I would recommend allocating some of your portfolio to another strategy such as dividend investing. It's another way to diversify your risk."

I agree Jim. In fact, I think it should be a MAJORITY of your portfolio. Leveraged investments should only be a small portion (10% or less) of your overall portfolio.

Originally Posted by MrJohnRoss

"I know many of you are focused on leveraged instruments, but there are other, less stressful opportunities. I would recommend allocating some of your portfolio to another strategy such as dividend investing. It's another way to diversify your risk."

I agree Jim. In fact, I think it should be a MAJORITY of your portfolio. Leveraged investments should only be a small portion (10% or less) of your overall portfolio.

I concur. I think I've only played a leveraged fund once or twice this year. And not big bets. I have much more success with individual stocks.

Originally Posted by coolhand

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After tracking sideways in the low $6s for several months, it looks like FAX is coming back to life. The chart looks bullish again for the longer term (weeks to months).

The bull flag has formed and looks like a nice buying opportunity here.

Once again, another stock that was below my "buy under" price is breaking out. At least in the short term. Patience has been paying off as price for Exxon Mobil is now above the cloud. The chart is looking more bullish although RSI is overbought.

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I'm not seeing a lot of short term trades that I like, but here's two charts that may be good short term plays.

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COSWF had good volume today and price seems to finding support around $19. MACD and RSI have not yet turned, but the stock could turn up quickly before the indicators do. Assuming of course, that it turns at all. I'd look for resistance around the 200 day moving average. Not a big play, but I thought I'd mention it.

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SJI looks like a better short term play than COSWF. Price appears to finding support around $55.50. Note the long tail on today's white candlestick. That's bullish. MACD looks like it may be beginning to turn back up, while RSI is already picking up, although it is still negative overall. I think I'd target the $59 area on this one.

I'd not be overly patient with either stock.

HAPPY BIRTHDAY
COOLHAND!
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Happy Birthday Mr. Coolhand!!

Let me borrow nnuut's partiers...

Happy Birthday

Ditto on the B-Day wishes!!!! May you act like your 30 again!

Happy Birthday to the coolest hand I know! :toung: