Big Board Stocks - June 9

[J-Tea]

It seems market's been a lot more unpredictable than usual lately, and has produced a lot of false moves, even in technically "perfect" charts. This highlights the importance of waiting for confirmation all the more, since even with confirmation, chartists are getting thrown off and forced to make quick adjustments.

Oil price surges and horrible economic data aside, which are unpredictable events, and will eventually be factored into the charts anyway, here are a list of what may be worth keeping an eye on for Monday, and the week ahead.

SINA, SOHU - the big drop friday may signal a break of the lower trendline for these charts. if so, this is an EXTREMELY significant technical event as the channel has been holding (log chart, of course) for a few months now, and the sector is arguably oversold, since money from other china stocks has been pouring into the internet companies, which are relatively unaffected by the recent earthquake.

SOHU CHART dropping below 80 would be a key break and sufficient confirmation to consider a short or put options.

SINA CHART - this chart looks like it already has broken a key trendline. movement in the sector as a whole and monday's close will confirm whether this is in fact a pullback in the stock and chinese internet sector as a whole, or whether we're just taking a breather from yet another few months of rally

JADE - ascending triangle on this one. been mentioning this for a while now. lacks volume at this point.

JADE CHART

SOLARS (as a whole) - the solar sector has been quite listless lately in my opinion. in light of the surge in oil prices, the stocks have not broken out of their H and S formations as nicely as i would have expected. in fact, some have even broken below a key support line (ex. ASTI) and far extended beyond the time-frame to confirm a H and S bottom. notice also that even one of the best performers in the sector SOL seems to be forming a descending triangle top (generally bearish pattern). watch this week for a test of the support line in many of the solar stocks.

NINE - possible ascending triangle happening here, after a long consolidation at lower prices. break of the 2.70 area could signal a test of the 200 MA, which is in line with the price target for the height of this ascending triangle.

NINE CHART

[J-Tea]

Just dodged a nuclear bullet this morning. Got out of JADE options in the AM on break of the trendline, and then margin shorted SOL. Again, many of these with perfect chart setups have failed lately, which is why the present market conditions make it crucial to set good stop-losses.