Harry Aloof
08-14-2007, 06:46 PM
From Wall Street Trader's Column (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
PROSHARES ULTRASHORT S&P 500 (SDS-NYSE): Technical Viewpoint: From a low of $49.00 on Jul 17, 2007 prices rallied, reaching a high of $57.74 on Aug 1, 2007. A decline saw prices pull back, reaching a low of $54.86 on Aug 6, 2007. Another rally saw prices penetrate resistance line "A", closing 8/3/07 at $58.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Aug 5, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $54.86. Resistance: Is at $58.87. Point & Figure: Reversed to the upside on Aug 5, 2007. A P&F downside reversal takes place at $55.00. Summary: Technical indicators have turned bullish. BUY! PROSHARES ULTRASHORT S&P 500 (SDS-NYSE) @ $59.38 Stop: Use a protective stop of $55.88. PROSHARES ULTRASHORT S&P 500 is currently trading @ $58.05 plus $3.04 on Aug 3, 2007.
Price Objective: $67.50
Risk/Reward: $2.50 VS. $9.12
Today's Risk Reward Ratio: 4:1
http://18004wallstreet.com/images/charts/Chart2175-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)
PROSHARES ULTRASHORT S&P 500 (SDS-NYSE): Technical Viewpoint: From a low of $49.00 on Jul 17, 2007 prices rallied, reaching a high of $57.74 on Aug 1, 2007. A decline saw prices pull back, reaching a low of $54.86 on Aug 6, 2007. Another rally saw prices penetrate resistance line "A", closing 8/3/07 at $58.05. Technicals: MACD Index (MACD): A Buy Alert! was given on Aug 5, 2007 when the solid line crossed the dotted line to the upside. Support: Remains at $54.86. Resistance: Is at $58.87. Point & Figure: Reversed to the upside on Aug 5, 2007. A P&F downside reversal takes place at $55.00. Summary: Technical indicators have turned bullish. BUY! PROSHARES ULTRASHORT S&P 500 (SDS-NYSE) @ $59.38 Stop: Use a protective stop of $55.88. PROSHARES ULTRASHORT S&P 500 is currently trading @ $58.05 plus $3.04 on Aug 3, 2007.
Price Objective: $67.50
Risk/Reward: $2.50 VS. $9.12
Today's Risk Reward Ratio: 4:1
http://18004wallstreet.com/images/charts/Chart2175-lrg.gif (http://18004wallstreet.com/hotoffticker/goto.cfm?userid=72&banid=6&price=0&ipadd=70.49.60.219&type=banner&aff_type=S&hotoffticker=0)