Watchlist for Tomorrow Morning: September 11th, 2008
September 11, 2008 – 12:09 am*Update: I have switched from MSN to Yahoo when linking my stocks. The yahoo finance site is set up nicer and shows real time quotes.
Two charts to watch for in the morning:
Ultra Financials Proshares (UYG): JUST BARELY had a break in the continuation wedge pattern. We are looking to buy puts as long as the price is lower in the morning. I would say stick with something in the money or close to the money. October 20′s or 21′s would suffice. MACD is rolling over and Stochastics are falling.
Black & Decker (BDK): Huge resistance line at 65 dollars. Since the price is above the line, we are looking for a retest tomorrow of the line. I love this chart because the stochastics are entering overbought territory.
Thanks for reading
-Justin Moon, Senior writer at Marketchasers.com