MainStInvesting

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About me My focus blends technical market analysis with unique value opportunities to produce multiples in return. If you are looking for a straight shooter who never tires of analyzing the markets, keep reading Main Street Investing.
Joined United States MainStInvesting
Markets Allocation
74 % stocks 20 % indices 7 % forex
Top Mentioned Symbols
SPY 10% | 5 EURUSD 4% | 2 ACI 4% | 2 IWM 4% | 2
MainStInvesting MainStInvesting PRO EGPT, W, Long ,
EGPT: Egypt Looking Strong
76 0 3
EGPT, W Long
Egypt Looking Strong

EGPT is looking strong on the weekly chart with a breakout of from recent consolidation. A similar breakout at the beginning of this year lead higher with strong momentum. Similar pattern showing this breakout on strength. Measured move of the recent consolidation measures about $8. Takes the target right into the $81.50 Gap. Stop is under last weeks lows which ...

MainStInvesting MainStInvesting PRO UHN, W, Long ,
UHN: Potential for Heating Oil Bulls
51 0 2
UHN, W Long
Potential for Heating Oil Bulls

With equities struggling so far this year, especially Small Caps and Nasdaq stocks, looking elsewhere in bonds and commodities has been prudent and paying off thus far. For Heating Oil, the weekly chart has been showing a nice triangle pattern after the run up from the 2009 bottom. Right now no confirmed signal of a buy or sell has triggered, However the ...

ACI: Call me Crazy - Coal looking interesting here
93 5 2
ACI, D
Call me Crazy - Coal looking interesting here

Follow up to this post - The daily chart did give a buy entry with the breakout over $4.50, however it was short lived and appears to be another false move. Broken support levels now suggest new lows will be seen in coal. Weekly chart also very bearish. I am still in the camp that the risk is mainly to upside in this sector, however as of now it's dead money and ...

ACI: Call me Crazy - Coal looking interesting here
165 2 3
ACI, D
Call me Crazy - Coal looking interesting here

No long position yet, but coal is looking like it could be setting up for a move higher. Looking at charts of coal stocks over the past 5 years shows plenty of false breakouts and a reverse lower. The difference here is we've recently seen a good amount of false breakdowns and continued basing without moving substantially lower. This sort of action demonstrates ...

MainStInvesting MainStInvesting PRO HMPR, D, Long ,
HMPR: Community Bank Breakout
92 0 1
HMPR, D Long
Community Bank Breakout

Strength in HMPR is showing a early signs of a potential breakout. This one has been a dog for a long time. The weekly chart is showing a strong base as well which supports follow through of this breakout. Strength in regional banks in general likely means HMPR is just late to the party. Break below $1.60 negates the long side. Pullbacks to the blue trend line ...

MainStInvesting MainStInvesting PRO UNG, W, Long ,
UNG: Nat Gas Weekly
405 5 6
UNG, W Long
Nat Gas Weekly

I know plenty of Nat Gas charts are out there with the recent surge, but I wanted to take a moment to look at the bigger picture. Most charts I've seen are focused on the daily action, so for those looking to establish longer term positions, this is one commodity that looks ripe for building positions. I've provided a rough estimate of the likely price movement ...

KOL: Coal is Weak, Very Weak
184 2 5
KOL, D
Coal is Weak, Very Weak

Even though it is weak, shorting is tough simply because so many coal related stocks have enormous short floats which can lead to an unexpected sharp rally at any time, taking out your stops quickly. Their are plenty downside gaps noted in the chart above as targets below the 78.6 Fib retracement from the March 2009 lows to the March 2011 highs. For long term ...

SPY: Russell 2000 Trying to Fill May Gap
163 0 2
SPY, 30
Russell 2000 Trying to Fill May Gap

All the major US Equity indexes have filled their Gaps from May 2nd... except for the Russell 2000. This is actually a short term positive as it makes the possibility of a quick rally as soon as it gets filled. I'm expecting it to be filled by early next week. Gaps are somewhat like unfinished business, especially when referencing Equity Averages. Since all ...

MainStInvesting MainStInvesting PRO HD, W, Short ,
HD: HD Long Term Strength Deteriorating
122 0 1
HD, W Short
HD Long Term Strength Deteriorating

Momentum strength deteriorating in HD on the Weekly chart. Price has been in a parabolic move and is in sore need of resting. Similar looking upswing to the Nikkei's recent accent. No short confirmation yet, but certainly on the radar.

MainStInvesting MainStInvesting PRO WHR, D, Short ,
WHR: Whirling Lower
164 0 1
WHR, D Short
Whirling Lower

Whirlpool likely heading lower, though I have had a difficult time with this stock. It's been extended for a long time, and I've underestimated dip buying support. Check notes on chart for details.

MainStInvesting MainStInvesting PRO JJC, D, Short ,
JJC: Copper breaking support again
133 0 1
JJC, D Short
Copper breaking support again

Copper breaking through support again, this coming from back in 2010.

MainStInvesting MainStInvesting PRO IWM, D, Short ,
IWM: IWM Breakdown
178 2 1
IWM, D Short
IWM Breakdown

Chalk one up for the bears as this is the first real stock index breakdown so far this year. I'd like to see a gap fill at $91, and then a bounce. Based on how the bounce acts, we can re-evalute. Overall, a real warning signal for the bulls on top of all the bearish divergences out there. Trade with caution.

MainStInvesting MainStInvesting PRO TLT, D, Long ,
TLT: Bond Breakout
329 0 1
TLT, D Long
Bond Breakout

Bonds, as measured by the TLT, have finally showed signs of bottoming with the breakout above the pink trend while also confirmed by RSI. Considering stocks and bonds have had a strong negative correlation since 2008 (deflationary periods cause inverse correlation, while inflationary periods, such a the 1990's saw positive correlation between these asset ...

MainStInvesting MainStInvesting PRO USDJPY, W,
USDJPY: SPY:USDJPY Weekly Comparison
642 0 1
USDJPY, W
SPY:USDJPY Weekly Comparison

Wish there was more data on the weekly chart, but an interesting look at the strong negative/positive correlation relationship of the Yen and the SPY. The only thing I can really deduce from this, based on the period between 2005 and 2008 is watching for USDJPY to top out slightly ahead of US equities. May serve as a solid leading indicator for a trend change.

MainStInvesting MainStInvesting PRO JJS, D, Long ,
JJS: Softs Potential Breakout
113 0 0
JJS, D Long
Softs Potential Breakout

The Softs ETN is potentially signalling a breakout coming based on the daily. The Weekly also shows firming strength. Seasonality wise, this is a bit early, but I'm seeing quite a few breakouts over resistance in things like Cotton, Sugar, and Corn is seeing strength too. No hurry on this, however perk up on this, especially if the dollar strength starts to wane ...

MainStInvesting MainStInvesting PRO IRE, D, Short ,
IRE: St. Patrick Losing Steam
266 0 0
IRE, D Short
St. Patrick Losing Steam

I took a trip to Ireland last October, and I must say, quite a country. As for the Bank of Ireland, it's had quite a run up from a year long consolidation period and appears to be losing steam just in time for St. Patrick's day. Though a push higher may occur, this one is in need of a pullback to reset. I'm bullish longer term on this stock, but intermediate ...

MainStInvesting MainStInvesting PRO EURUSD, D,
EURUSD: Euro Doesn't Care for Doji's
282 0 0
EURUSD, D
Euro Doesn't Care for Doji's

Update from yesterday's post on this currency. Oh how fast we can be wrong. In either case, still seeing limited upside from here. Lot's of potential resistance in 1.33-1.35 range.

MainStInvesting MainStInvesting PRO EWJ, D, Long ,
EWJ: Japan Joining the Asian Breakout
221 0 0
EWJ, D Long
Japan Joining the Asian Breakout

Quite a few asian market's are showing sign's of strength and breakout out of long term resistance levels. Japan has joined the party, and this time does appear different as strength is helping to confirm price action, along with China, Vietnam, and others.

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