Monday, February 25, 2013

Week 9

Hello there!

Not much to say about this bleeding market. While S&P500 was making higher highs Ibovespa was making lower lows. Most responsible stocks are PETR4 - $PBR, VALE5 - $VALE and OGXP3 - $OGXPY

Let's wait for a few days to see if it develops a double bottom here. Took the trade that I posted last week in PETR4 - $PBR but got stopped out.

Nothing at my radar right now though I think we are oversold here, just waiting for market to set up again.

PETR4 - $PBR and VALE5 - $VALE could be a good call because of its correlation with Ibovespa in case market rise from the ashes

Have a nice trade folks!

Monday, February 18, 2013

Week 8

Hello there!

Ibovespa didn't respected the fibonacci I drew in the chart and market is melting since first days of the year.

The future symbol has changed as I said in last post. It is now INDJ13 until April 17th.

What is giving me confidence now is that Petrobras - PETR4 - $PBR is making an 1-2-3 low and have a hook at 18.00. Its weight on Ibovespa makes me think that we could hold here or go higher from now on.

I really liked how this chart developed. I see divergence between price and MACD Line while it is crossing up.

I would take the trade if it breaks 18.00 and my stop is under 17.52

Have a nice trade!

Monday, February 4, 2013

Week 6

Hello there!

First of all I wanna tell you followers that the website with those graphic tools I used to post is no longer accepting free users so I changed for my brokerage firm software called XP PRO which is pretty good too.

Another Monday (4) on the negative side. Petrobras (PETR4 - $PBR) was the biggest responsible for the tragedy again. The biggest brazilian oil company fell -2.49% on the session with investors fearing a bad earnings report that was announced after markets close.

Here comes the Ibovespa future chart maturing in February's Wednesday closest to the 15th.

I had to draw again the Fibonacci, so our new level at Ibovespa future is the 58,840.00 level (still 38.2% retracement of the movement).

Would be very interesting and healthy if market holds this level. As you can see MACD Line is low but may need another week to be ready to go higher.

The last call I made was Braskem (BRKM5 - $BAK)

This stock performed very well against Ibovespa but today's movement got me unprepared even more with this volume. Even thinking that this stock could easily reach 16.30 level I would take the profit if it loses today's low.
I can easily enter this trade again in another opportunity.

Stocks that I'm watching for long positions:



Thanks and have a nice trade!