TruCharts.com – Free Stock Charts – Blog week ending 12/19/2014

Trucharts.com Blog week ending 12/19/2014

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Merry Xmas and happy holidays to all. We are in a short week of trading this week and the fireworks were on last week after Fed Speak. We did not expect any surprises from the Fed on the raising of the Fed Funds rate, and the Fed made it a point to tell the markets that it was still ok to take risks and that drove the markets to recover over a 800 points on the DOW and 100 points on the SP500. A lot of this was driven by energy stocks and since some of the stocks had dropped over 50% – there were short covering rallies and bottom fishing and a major short squeeze. BofA Merrill Lynch downgraded several semi stocks but these did not correct as much. The SP500 and DOW look like they are still in an uptrend and our indicators are still showing a trend for the markets to mover higher – after a short consolidation period. The move this past week was massive, but the volumes in some stocks was not high. 

We like XLU (www.trucharts.com/stockview.aspx?TICK=XLU) and the utility stocks as good dividend earners. Check out the charts for SO, ED, PCG and DUK. Even the REIT’s look good and some consumer staple stocks look good. We took a position in K or Kellog (www.trucharts.com/stockview.aspx?TICK=K) and USO – we believe this has finally bottomed for the short term. Keep an eye on CAT (www.trucharts.com/stockview.aspx?TICK=CAT) – we are looking to take a position in CAT. 

We have been hurt by our short position in IBB – but have been writing puts to improve our short price. Our other positions are doing OK – Long WSM, short YHOO (plan to close Monday), DAL, AEM. We are looking to go long CYBR.

There is definitely a XMAS rally going on and we expect this to last into the New Year – until the earnings season starts. AAPL (www.trucharts.com/stockview.aspx?TICK=AAPL) still looks good technically.

We added some new features to our site this week – execiting stuff:

1. MULTIPLE SYMBOL CHARTS on one page – check this feature out at: http://www.trucharts.com/multiplestockcharts.aspx

2. ICHIMOKU cloud indicator on our stockview page and turtle trade indicator

3. Added borders to our charts

Check the features out and also our page: http://truchartscom.blogspot.com/p/why-is-trucharts.html

In addition, we want everyone to take advantage of avoiding monthly recurring fees  and sign up NOW for one very low annual membership for full access for just $90/year – a 50% discount to the annual membership fees and this gives you real time categorized news and complete access to all of the site including dividend stocks etc.

Again – Best wishes for the holidays to all and a Happy New Year and good luck trading.

TruCharts Team