JP MORGAN

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tryhay

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Post Number: 919
Registered: 09-2005

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Friday, February 08, 2008 - 08:54 am:

The 200 Day MA has formed a rounded top ~ volatility is certainly increasing and currently headded in the wrong direction (if you are long)

Weekly chart:

JP M_C

Happy trading DYOR

peter1

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Post Number: 215
Registered: 12-2005

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Friday, February 08, 2008 - 08:20 pm:

Thanks Tryhay. I enjoy looking at the US charts when they are posted. I assume that you are fairly bearish on this stock. There is no doubt that things are looking poor and your reasons are sound. I looked for a sell setup but could not find one at this time. I noticed the MACD buy signal on your chart, so I looked into it.

TA is great isn't it. We can always find an opposing view. In this instance I will take the bullish view. The daily chart shows numerous hits and rejections at the 48.00 level. This is very strong resistance, but it was temporarily overcome recently. This rally caused the MACD xor. Price has retraced to the 50% level of the move up, volume is lower than during the rally up. I would be looking for a move back to the 48 level as an initial target and then higher on a close above 49. I am using the fibonacci tool in IC to show a possible low risk entry into any move up.

An aggressive entry would be to buy at the 50% level (43.50) and hide the SL below the 61.8% level (41.50). This is a 2.00 risk with a profit target of 4.50 (48). I don't buy in thin air so I would wait for move above the last bar's high (44.75). My SL would be safely below the 61.8% (41.50) although if price moved below the last bar (42.90) after entry I would probably exit.

Just realised that my data is delayed by one bar, up to date data shows that I would have started this trade as the prior high (44.75) was passed, so my SL at 42.90 is in play. Risk is 1.85 with first target above 48 (1.85/3.25.)

jpm1

tryhay

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Post Number: 921
Registered: 09-2005

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Friday, February 08, 2008 - 09:04 pm:

Hello peter

I do not normally post in this thread, but was running some scans this-morning and these two came up 1,1,1. In fact I do not trade overseas stocks but I do trade the DOW at times like this.

Yes I agree there is a "short term" bounce occurring but I guess the downtrend will continue soon.

Weekly chart: Opposing Fib approach suggests to me that most of the expected bounce has happened and the downtrend is set to continue once the price action gets through the congestion (say $43 unless one wanted to trade the bounces ~ bit too tedious for me)...

jpm

IC has been a bit quiet lately ~ looks like dug is in pergatary again! Bit hard to be positive with the market action of late - I think I'll short the weekly comp...

Happy trading DYOR

tryhay

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Post Number: 956
Registered: 09-2005

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Sunday, March 16, 2008 - 08:19 am:

Bit of an update on JPM for them interested

Daily chart: I wonder if $32 will halt its slide?

jpm

not holding my breath...

Happy trading DYOR

tryhay

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Post Number: 1106
Registered: 09-2005

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Saturday, July 19, 2008 - 03:58 pm:

Some value in checking JPM progress here: ~$32 provided some bounce but already looks to be running out of puff & $42 will probably see it heading in the wrong direction again IMO.

Daily chart: many financials exhibit the same bounce ~ seems to result from the Naked Short restriction SEC imposed rather than a genuine improvement in the market condition, time will tell....

jpm

Seems to be a lot going for trading US markets (if the trading platform used allows it): more liquidity, volume & opportunities. Anyone here regularly trade them?

Happy trading DYOR

bluedog

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Post Number: 529
Registered: 08-2005

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Wednesday, July 23, 2008 - 07:12 pm:

Hi Tryhay
Ive been regularly trading US and UK markets for the last few months, there is heaps of opportunities, the only drawback is trying to have a trading platform that is user friendly for all. IG you can trade them all but there is no practical way to take out partial profits unless you sit and watch it, MAN will take phone orders at no extra cost which inludes contingent and oco orders, you just cant see it live if thats a problem for you.
I have actually been preferring UK markets although commission is a little higher, there have been some really good set ups of late, also its hours are reasonably user friendly if you work, opens at 500pm EST until 130am.
If you have time to go through all the charts and your passion is like mine trade them all. I currently scan SPX, Prudential shorts ASX(otherwise there are just to many come up)and FTSE 350 constituents daily when I'm at home and when I'm at work just ASX and FTSE and only if I have time. A worthwhile site to look at is www.slopeofhope.com if you are keen on the US.
Cheers
Bluedog

tryhay

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Post Number: 1117
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Monday, July 28, 2008 - 09:14 am:

bluedog wrote on Wednesday, July 23, 2008 - 07:12 pm:
have a trading platform that is user friendly for all.

Yes I agree ~ I have one portfolio with a retail online broker that is not a user friendly package IMO, and a full service broker that has their act together ~ for a price.

I guess the solution is to go for CFD trading (+) platform (perhaps one of the ones you mentioned) ~ but I dont have the time/want it enough, just yet.

I did check out <www.slopeofhope.com> briefly and found his approach refreshingly contemporary (not the big broker approach).

Yes Colin has done some good work on the scan package IMO and has some good options available (though some are never satisfied).

JPM chart is looking quite interesting ~ must one day be O'sold but the indicators dont look attractive ATM

Daily chart: The 200D_MA looks like the immovable object and the cluster of price action looks ready to reverse pronto....

jpm

Cheers

Happy trading DYOR

bluedog

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Post Number: 531
Registered: 08-2005

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Monday, July 28, 2008 - 10:25 pm:

Hi Tryhay,
200ma playing a big part in a lot of charts at present, silver, gold for a couple of important ones and a host of equities with good structures touching.
JPM if it isolates that cluster will leave us a nice bearish island, not sure on target setting for the move but should be substantial.
All the best in these trying times.
Cheers
Bluedog