Breakout-Pullback Charts: BA and AMZN

BA and AMZN look to be setting up for breakout-pullback plays. Here is a quick summary of what I like to see on the breakout:

1. Price breaks out over established resistance on above average volume


2. Stock closes near the high of the day, printing a long range bar


3. Evidence of accumulation prior to breakout


4. RSI is at a higher level than when at previous high


5. Stochastics printing higher lows previous to breakout

Both stocks fit the breakout critieria. All that is left is a low volume pullback to the breakout point. I'd like to enter Amazon around $44 and Boeing at $92.

Some Clips

What if a great man of the last century – Gandhi, say – had had access to the communications networks of our age when he made one of his most important speeches?" The result is 'Telecom Italia Gandhi', an astonishing 60-second spot that has just started airing in Italy.



Peter Gabriel - Here Comes The Flood, from the Growing Up Live tour, Milano 2003



For football and 49ers fans, an interview with the genius, Bill Walsh. I recently read his book for pure enjoyment, but found myself constantly taking notes that would relate to trading practice.



Barick Obama's Plans for 2008


Jim Cramer on the Colbert Report, January 2007