Recent Flags

 

Hi everyone

Here’s an email I just sent to one of you in response to a question.  Many apologies for the lack of posts recently.  The markets have been a bit choppy while they’re making this protracted consolidation.  Also I’ve been staying up till the early hours every night getting the new book written for the FT in New York.  It’s about 90,000 words and I think it’ll be the best of the three I’ve done … and the last!!!  

Recently the market found a temporary bottom and has gone sideways for a bit, that’s why the flags aren’t setting up so brilliantly right now, but don’t worry, this happens from time to time – the pretty ones will be back soon enough. 

Here’s what I’ve spotted over the last couple of weeks together with comments.  I emphasize that these are not active, nor are they recommendations.  They are flags that were spotted over the last two weeks or so that in the main haven’t played out because the market formed its own double bottom (see below). 

AMR – a few days ago but struggling to break down further – looking more like a double bottom.  

ARTC – same again … never broke down so no trade. 

ASFI – nice flag a few days ago but no follow through

ASPM – over 2 weeks ago but a great one

AUTH – this is now a reversal … 

AYR – this was a great one and profitable too

BLOG – good bull flag but missed it because of the gapping

CERN – another decent one that’s had a couple of legs down since being spotted

CVO – again, pretty ok

DIVX – gapped down off a great flag … missed it though 

GLBC – needs a push …

JRJC – gone flat but looked good two weeks ago

MASI – a beauty - see the flag from 6 days ago.  

MU – started to break down 4 days ago … a bit double bottomy for me still 

OMRI – was ok for a bit

XING – typical of a lot of patterns in the market right now … lots of potential but didn’t quite follow through. 

 

That's it for now … I'll be back with another big post in the next few days. 

All the best

 

Guy