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BuySellStop.com | Why Read Stock Charts? | |||||||
| Reading a Stock Chart will give you a better understanding of the... | |||||||||
| by Robert Perrego |  |
Greek Crisis | |
Enron Fraud - Charts vs. Analysts | |||||
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Credit Crisis | |
Infamous Internet Bubble | ||||
 
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.  |
Update on Intuitive Surgical (NSDQ: ISRG) - Stock Drops 16+ points in the pre-Market Intuitve Surgical Inc. (NSDQ: ISRG) dropped over 16 points in this mornings pre-market trading after reporting earnings Wednesday night. ISRG reported an earnings beat of 15 cents ($2.19 a share vs $2.04 expected by analysts) but it seems Wall Street does not like its current high valuation with a high p/e of over 40. At 8:28 a.m. this morning the stock was bid $299.50 after closing yesterday at $316.10. My Wall Street Wrap from yesterday noted that the chart was looking weak and that this may be time to short the stock. Of course I would rather have got a short off (or bought a put) at the higher $316 level but today's market futures are up ahead of the bell almost triple digits, so a bounce back up in the stock may be coming today. Cramer of CNBC Mad Money fame is a fan of this stock and I would not be surprised to have him come out bullish on the company after the close today on his show. Also, Cramer could comment on the stock during his 2:30 p.m. 'Stop Trading' segment on CNBC. Say what you will about Cramer but his legions of fans can raise or drop a stock. His commentary could be used to get short at a better price. ISRG has its 200 day Exponentional Moving Average at $309.93 and with a 9 point jump from current pre-market trading levels today, a short can be entered at a better level. ISRG is forming a bearish descending triangle which is targeting a drop of 50 to 80 points below the $310 level. (for more on how to identify a descending triangle go to www.StockTradingCards.com) Thursday, July 22, 2010 - 8:37 a.m.
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