Breaking Wall Street Market News & Reports

 

I’m a big fan of what the new decade and technology has to offer. We’re in a start of a cycle of revamping business tools. Companies have begun to replace their old systems to the more sophisticated, faster, and more reliable PCs. I believe with Windows 7 rolled out, which is by far the best Operating System compared to the ill liked Vista, has given Dell, Hewlett Packard HPQ and their business consumers a compelling reason to upgrade!  Hewlett has taken the advantage thus far and have made significant moves as they are well equipped financially and are in several businesses including the Printing business (Eastman Kodak’s market). Personally I prefer HPQ for PCs and printers. I think they’re sharp, priced right, and are packed with tons of tech goodies!

Now onto the charts. What we see here is a pattern called a double bottom. The double bottom is a major reversal pattern that forms after an extended downtrend. As its name implies, the pattern is made up of two consecutive troughs that are roughly equal, with a moderate peak in-between. Although there can be variations, the classic double bottom usually marks an intermediate or long-term change in trend. Many potential double bottoms can form along the way down, but until key resistance is broken for instance here @ $14.45

Dell ($14.18) has bounced off the $13.00 mark and has been trading in a very tight range trending upward. With this recent trend pattern I’m beginning to notice the buy side volume has beginning to trend upward. Is this a buying a signal of whats to come? I think we’re a few days away towards a breakout!!! We can potentially earn a 10%-15% gain in the near term! Let’s take advantage of it now before Wall Street gets a hold of this.

I’ve been right with GS, AAPL, EBAY, & CSCO’s recent breakout. Play this right and you could reap huge rewards in the options arena currently trading with heavy interest @ the March & April $15 strike worth .04 & .15 respectively. I’d play April $15 strike as March expires the 19th.

Cheers!!!

Tags: breakout, dell, technology

This entry was posted on Wednesday, March 10th, 2010 at 6:35 am and is filed under Contributors, Large Cap Stocks, Technical Stocks, Technology Stocks. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.