Mike's active trading journal

Discussion in 'Journals' started by michaelscott, Apr 16, 2007.

  1. Let me give you the reason as to why I have decided to feature FTEK, before I leave for a while, and its because of Jim Cramer.

    I had been doing the same analysis in December on JSDA to see where it would go. It was my first time using quantative skills to figure out a stock price. I used the golden number and different relationships, etc. I came up with a future price of 18 dollars which it hit (and continued much higher). The reason why JSDA continued to the 30 dollar level is because it jumped to an old trend line originating from 2004. Trace 4.3 to 7.9 and then continue forward, ahhh, its 30 dollars.

    Jim Cramer has hired a quant. FTEK is following along the same quantative analysis.
     
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    #41     Apr 22, 2007
  2. Here is another view of FTEK. Notice the bearish wedge. Its safe to long now, but when it hits the next top then its time to exit quick.

    If FTEK is a key to the market, then the next correction should come in about 3-5 months.

    You will know when its time to exit if you keep looking at the chart, you'll see where the top forms on the wedge.
     
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    #42     Apr 22, 2007