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Rob Perrego

Who is Robert Perrego?

When WorldCo's Wall Street traders needed to know how to read a stock chart, they went to Robert Perrego.

Robert Perrego was a Managing Director and a Proprietary Equity Trader at WorldCo LLC for five years. Using Technical Analysis and Chart Reading techniques, Robert profitably traded over 100 million shares of stock worth billions of dollars for his personal account.

Robert delivered weekly lectures on Technical Analysis for WorldCo's other traders. The tapes of these lectures became required viewing for all new traders at the firm. These videos inspired the creation of the educational package now being sold at StockTradingCards.com.

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Johnson Controls Inc. (NYSE: JCI) – Chart looks good and an Upgrade by Morgan Stanley


JCI has a chart that is common today.  After viewing a few hundred charts, I kept seeing the same thing.  Then I pulled up JCI and what I saw was stock that closed two cents off of its high AND was above its 200 and 150 day exponential moving average.  Now, a stock that is strong when the whole market is strong is no special thing.  What JCI has going for it is that there is upward momentum with the last moving average resistance only 21 cents higher.


Looking at the JCI chart there is no resistance besides the 50 EMA up to $31.10.  With JCI closing at $29.53 you get a free $1.57 (5%+) before running into resistance slow down.


Let’s talk about another reason to buy JCI; a Morgan Stanley upgrade.  I read charts and the charts can represent upgrades as buyers come into a stock as a result of a broker/dealer putting out the ups on a stock.  Most broker/dealers release research to their clients first, and then eventually the public gets the news.  By the end of the day everyone knows about the upgrade.


Coming into Wednesdays trading, the upgrade will be disseminated and buying power from the fundamental stack may play a part.  The chart may look a lot like a lot of the other charts from today’s market, but an analyst at Morgan Stanley thinks this company can produce better margins.  This is good news.


After as big an up day as today, the market may sag Wednesday.  Only time will tell if we are going to get some follow through, but JCI stands a better chance to show upside price action with an upgrade.

Tuesday, June 15, 2010

 

 

 

 

 

 
 

 

 

 

 
 

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