SPY rise in the short session of last trading day in Nov, post the biggest 5-day gain since 1929, broking most analyst glass. However, we can see low volume on this few day, which mean the real challenge will begin next week, with all the investors and traders come back after the holiday. The previous high 92.06, will perform as a short term resistance. If it cannot break through on the following week, we shall see some pull back and profit taking action. Uncertainty remain, with big 3 automaker fate, and possibility of more financial institution will dry up, and seek for government help.
Have 2 watch list currently. AVB and HCN. Both showing sign of reversal, and Reward/Risk Ratio is high. Will watch closely on Monday.
AVB
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Sell when below : 58.46
Stop Lost : 62.29
Target : 41.43
Risk : 3.83
Reward : 17.46
RRR : 4.5
HCN
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Sell when below : 37.05
Stop Lost : 40
Target : 30
Risk :2.95
Reward : 7.05
RRR : 2.39
2 comments:
wow.
Both are nice ones :)
I prefer HCN, negative divergence on the 15min chart, showing sign of weakness.
Thanks Lion.
I just enter short for 37.20.
Too bad we can't short AVB, which is higher RRR.
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