Saturday, August 20, 2011

Technology Bear Stock

Currently we are seeing ugly markets all around. Currently the slow growth around the world is affecting the markets and all the problems in euro zone is holding the market to reverse.  The market should tells a little more these following two weeks if a bottom would be confirmed or it will reflect a breakdown which in this case you should have some stocks that you would like to short.

$TYP has been very good to many including myself.  I started $TYP at $19 and it is up $10 dollars. However i don't hold these longs due to the market volatility.  Best advice stay in cash and trade small. But the technology sector is being hit pretty hard so naturally sending this bear stock up higher ... but currently we need to see a breakout to actually get in to this stock.  Be aware that it has a resistence around $29.77.

If the breakout is confirmed then its buy time.  The trend seems pretty nice as the market is crazy.

Also be aware that we have a hanging man and this could indicate a reversal on this stock.  However higher volatility can create a break out for this stock.  Keep watch.


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