I updated the following technical anlaysis charts at http://blackberrystocks.com/charts.html
Technical Analysis Updates: February 6, 2009
Visa - V
Apple - AAPL
Dryships - Drys
Potash - POT
I will sneak in a little side note for the people who view my blog every day. I believe the stock market is rallying today due to the potential of the stimulus package, short covering, and possible change in mark to market accounting rule or a Timothy Geithner toxic asset purchase plan. The Dow has broken out of a trading range and could test the 50 day moving average next week around 8470.
This is a classic buy the rumor day which could extend into early next week, but I believe traders will sell the above news when it is released.
Oil markets: Oil is falling as the back month contract gets sold, and the front month contract comes in. This is effecting the USO in what it called Contango. I am waiting for the USO to close back over the 10 day moving average for a nice rip higher.
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