The official news is out.
Sprint will sell it on June 6 at 199.99 with a 2 year plan.
http://finance.yahoo.com/news/Sprint-to-sell-Palm-Pre-for-rb-15288226.html?.v=4
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Gilead Science (GILD) : Abnormal behaviour on an up day
May 19, ’09 1:20 PM
Previously, I have warn that GILD exhibits a bearish Tenkan sen – Kijun sen cross.
Yesterday, GILD exhibit an abnormal behaviour (and a more worrying bearish trend).
While the major indices rose more than 3%, GILD actually got sold down.
From the chart, you can see that throughout May, there has been more selling than buying. Only exception is when the ‘swine flu’ news or ‘H1N1′ news break out.
Points to note:
1. It break another support level at 43.69 on a day where the indices are up
2. The volume is above average which suggest that there is a fair amount of selling and not an issue of just profit taking.
3. More down days than up days in May.
4. Look at the ‘kumo’ or ‘cloud’ beyond the current date. We can clearly see that it has start trending down.
Alexandria Real Estate (ARE) : Bearish Outlook
May 16, ’09 10:51 PM
I have been bearish on various REITs for quite some time. The key reason is the amount of leveraged they have.
Surely, in this economic climate, financial institutions will be cutting back and reducing their lending exposures
With this in mind, highly leveraged REITs will faced significant challenges in raising funds to finance their borrowings.
For more in depth reads on such issue, try searching for Morningstar, Seeking Alpha and of course, Stripnomics.com via Google.
One of a possible short position which I have attempted is on ARE.
From a technical analysis point of view, ARE has just broke its long term support at around $32.
You can look at the chart here. For the past few sell down, it was able to hold at that level. But, last few trading days sees the support being broken and till Friday, it did not manage to clear that level.
Will this be the beginning of a major slide for ARE?
Take a look at the chart:
http://stockcharts.com/h-sc/ui?s=ARE&p=D&yr=1&mn=0&dy=0&id=p57283514494
Look at the volume that is associated with that price level. History suggest that there’s volume supporting it at around $32 range.
But, a further break down will suggest that this price level will not hold.
