The Student Loan Ranger

An OK week for predictions, two of the stocks kind of stalled a little. The short term play on JPR was good, and the WTN call was a lot better than I expected! Petrofac and Autonomy look like they could be good stocks when a few technical issues are overcome.

Western Canadian Coal (WTN)

Exceeded all short term price expectations, but still lies below target trend line. I think we might see a recurrence of the bull flag formation that happened last time it rallied. For now, the fun looks over, but I will wait to see what it does in the next few days in terms of support, also watching for continuation or reversal signs.


Johnstone Press (JPR)

Short term scalp worked out pretty much to the book. In and out for a quick 6%. There are still signs that JPR might continue to move up in the channel range, but I'm not interested in this again until it's broken out of the general downward trend, and in the more short term, 150p. For an investor, this could potentially be a good long term play at these prices, after we see some longer term consolidation.

Autonomy (AU.)

This looked like a good play at the start of the week but is increasingly looking grim. The next few trading days are vital here - another movement out of the ascending wedge on the downside might see it crash quite a bit. There are not many good things about formations that I can see. Stochastics are hard to call, MACD is looking OK. A break on the fast line ema might see something worth going for, but it's a purely a watch for me. The worst short term call on this blog for a while

Petrofac (PFC)

Depending on your entry you could have made a few percent here, but not really an advisable play at the moment. I'd look for a move off the new support line formed by the wedge topline, or a bounce off the wedge trend line for an entry signal.

Next weeks Crystal Balling will include a few new set-ups. I'm reading "Hit and Run Trading" and "Schwager on Futures: Technical Analysis" at the moment. From HART I will be programming the set ups into prorealtime over the weekend and then each week I'll try to include one or two very short term plays.

I find most of my better calls seem to go off the general trend, patterns, stochastics and low supports. I think these will still be the majority of my calls until I get some evidence I can use the strategies from these books.