Jim's cycle trades

[Jim Smith]

MRK still looks good.....my target remains $42.50....It may pull back a bit to the $35 strike.

[Jim Smith]

IP....International Paper seems to have made a spike bottom....At least it looks more like a spike on the weekly chart....If it breaks out of the pivot, it has a long ways to go >>>> $42.60

[New-born baby]

Ip

IP....International Paper seems to have made a spike bottom....At least it looks more like a spike on the weekly chart....If it breaks out of the pivot, it has a long ways to go >>>> $42.60

Here's the daily. Yesterday it broke out of a minor double bottom.

http://img108.imageshack.us/img108/7863/chart16xi.gif

[Jim Smith]

EBAY....shorted at the broken uptrend test evident on the weekly chart.

[Jim Smith]

closed EBAY short when it moved above the resistance line.....will watch for now.

[Jim Smith]

MRK....long....

EBAY....I think my lines were a little off on that weekly chart.....watching

IGT....shorted shares.

[Jim Smith]

DD....still looking at this stock for market cues....DD is going to $44.

[Jim Smith]

NUE....close to b/o....long

[Jim Smith]

NUE...I think can make $86 near term

[Jim Smith]

APPX....up on an earning report.....recently bounced off the 200 week ma....I think this can make $40 in two months.

[Jim Smith]

BRCM....put on a short here.....I think this can do a slow burn till it closes a chart gap around 68/69

[Jim Smith]

GM....it could just be me but this stock looks like a head and shoulders bottom shaping up.

[New-born baby]

Nice one

GM....it could just be me but this stock looks like a head and shoulders bottom shaping up.

GM has a head and shoulders pattern for sure. And the target is marked on the chart below. 20% reward, for a small risk.

http://img367.imageshack.us/img367/9629/chart11op.gif

[Jim Smith]

long GM....it's been years since i've owned this one

[New-born baby]

5:1

long GM....it's been years since i've owned this one

I bought it after the first head and shoulders, and sold just before the ex-date because I knew she would retrace. I think it is a good choice. The risk/reward ratio is 5:1 IF you put a stop at the neck of $21.30.