Mass Update

It's been a while since I posted a mass update on stocks, but thanks to local geological events keeping me up (4 earthquakes in 48 hours) and the fact that I promised more sometime this weekend (technically I have a half hour left, local time at least), here goes. I am skipping the Nikkei, Dow, and S&P for lack of time, but there are 6 other charts and some comments below. Good trading!

C-Citigroup- What can I say, chart appears to be breaking the lower trend due to lack of momentum. The best move was months ago when it was about a buck. I still like this as a buy, but the technicals no longer seem to support it at the moment. I'd watch for a move towards 4 dollars, as that confirm another upward leg.





FAF-First American Financial- This is currently the only other financial I am following other than Citigroup and Ambac (see Beatdown Financial I Might Buy).
It looks to be in some trouble too in the short term and I might look for a short IF FAF bounces off the bottom of the formerly lower bullish line, which would confirm it as new resistance. I still think it's risky to short financials though, so more than likely even if there is confirmation, I'd probably pass. For those with more guts, might make a good short day-trade though.

YHOO-Yahoo- Still in an uptrend, for what it's worth. I wouldn't enter a trade right now, but only because risk/reward are about equal. We are in the middle of the upward channel, so it could go done as much as up. Other than short term interday activity, I wouldn't touch it. Around 14.75 it would be a buy, and for an against the trend risky short around 17.




TEVA-TEVA Pharma- Still very rangy. It does appear to have formed a bit of an uptrend, buuuuuut it's at the top of that channel, so may very well go back down and stay in a range. TEVA looks better as a buy above 48 or 49 to me, which would be a cleaner break out of the current range. It could happen, but odds look against it for now( but then again I'm not predicting, just making educated guesses.).



SLB-Schlumberger- This is still one of my favorite energy related stocks. It remains in an uptrend tied to crude prices, which to me seems to be a bit inflated again. With that in mind, if crude continues to cruise, SLB should break the $58 resistance area and break out. If not, well back down towards the $40s. I wouldn't buy without a break out, but wouldn't want to short it either.



PBR-Petrobras- Finally I'll close with PBR. It's still in a pretty strong uptrend, but the rise is not convincing, at least in the short term. There hasn't been a great deal of momentum to push through the top part of the channel, so we might be ready for a pull back. If so, I'd buy around 40, if the trend line holds, otherwise wait for a breakout of the channel and confirmation that the top channel line has become support.

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