Category: Basic Materials

I charted RIG after the markets closed on Thursday, October 29, 2009, when RIG closed at $86.84.  I only went back a couple of months on this chart to just before RIG gapped up on September 8, 2009.  Just as …

I charted Monsanto (NYSE: MON) just after noon today when it was trading at $74.17.  I like following MON because it tends to follow its trend lines fairly consistently (I tried to color in the trading channels to show them better, …

I charted Alcoa (NYSE: AA) this morning when it was trading at $13.02.  Thanks to Qmar who suggested through Twitter I check out AA and the “huge inverse head and shoulders”.  I highlighted what I think …

I charted Schlumberger Ltd (NYSE:SLB) at 10:36 am today.

Opinion – SLB gapped down and has broken support of its 10, 20 and 50 day moving averages lately, but it has three trend lines showing support just above $51.00.  I’m long …

I charted Monsanto (MON) around lunchtime while it was trading $75.89.  (Disclosure, I’m long 100 shares with a covered call at July $80).   Monsanto announced earnings today which were positive overall and it started the day up, but then came the information …

Materials Select Sector SPDR ETF Fund (XLB) attempts to track the materials economic sector.  I captured this XLB Chart at 10:00 am on 4/9/09 while XLB was trading at $22.67.

XLB is touching its trend line of higher lows
XLB fell below …

I drew the AA Chart below at 12:05 pm on Tuesday, April 7, 2009 when AA was trading at $7.77.  Alcoa is scheduled to release earnings after hours today.

AA hit resistance when it met up with its trend line of …

MON is following a trading channel that is hitting the low side this morning. 
The 10 day moving average could act as support too.
Risk comes from Williams %R starting to break below overbought.