Friday, November 18, 2011

the AUCTION KING. ~ Ritchie Bros. Auctioneers $RBA


... when the market crashed in 2008, it took the mom & pop construction company with it.  They borrowed money to finance NEW equipment for NEW jobs, then it all stopped.

 * NO JOBS, NO WORK *

can't make that lease/loan payment ?  ... equipment gets REPO'd!!!

Ritchie Bros current INVENTORY: (their loss, $RBA's gain)
 ... the world's largest industrial auctioneer, $RBA! 

risk: used equipment market is still weak.

reward: stock acted well during this week's sell-off. *

November 1st was a 15 month low, chart shows capitulation ... BUY! 

*14%+ SHORT INTEREST


full disc:  no pos, yet.

Tuesday, November 15, 2011

the QUADRUPLE TOP in the TRIPLE Q's? ~ NASDAQ: $QQQ


 ... i see 1, 2, 3, 4 Q's at the top of this chart  ... they used to call her the QUAD Q's, but they don't anymore.

"There's NO such thing as a QUADRUPLE TOP." ~ Richard Bias

Which way from here?  ... choose your own adventure.

 OVERALL TREND: UP

BULLISH TARGET:  $76 ... measured move of $16 from the $60 breakout (green arrow) *overly optimistic

NEUTRAL: $58ish ... sideways forever (light blue) *not likely

RANGE BOX: back to the bottom of the range ... from the low 50's to the high 50's & back again.(orange arrow) *all of 2011

BEARISH BREAKDOWN: $42ish, giving back the entire 16 point Sept 10 to Feb 11 bull run. (red arrow) *be prepared
 
FULL DISC:  Long Jan 58 CALL   

PowerShares QQQ Trust, Series 1 (ETF)
(Public, NASDAQ:QQQ)