Technicals Amid Turbulence
What can you learn from charts in such an unpredictable market? Chart expert Quint Tatro shares his outlook!
Following is a summary of the main points made by Quint Tatro, founder of Tatro Capital on “Fast Money.”
Chart: S&P 500 Weekly
Analysis: With the trend lines bouncing around, Tatro calls the index "no man's land." Wait and see, he counsels
Chart: S&P 500 Daily
Analysis:It seems we’re retesting the January lows, but we have a higher low which should be positive.
Chart: Savings & Loan Index
Analysis: I see a double-bottom with high pennant, Tatro says. S&Ls may have bottomed and are worth watching because they could go higher.
Chart:People's United Financial
Analysis:Double-bottom - first in August, next this year. It appears this stock could go higher. Tatro recommends taking a “nibble” in anticipation of any move..
Chart:Hudson City Bancorp
Analysis: The technicals are attractive, says Tatro. It appears this stock is continuing to grow year over year.
For an in-depth analysis of the charts used in Quint Tatro’s analysis please watch the video.
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Trader disclosure: On Feb.11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (DIS), (YHOO), (HAS); Najarian Owns (BIIB), (C), (CSCO), (MS), (MSFT), (XLF), (YHOO), (NOK), (ATI); Najarian Owns (FRE) Puts; Najarian Owns (AAPL) Calls, (NIHD) Calls, (OSIP) Calls, (DVN) Calls; Seymour Owns (AAPL), (CSCO), (F), (GM), (INTC), (MSFT), (TSO); Seygem Asset Management Owns (SSL), (GFI), (YHOO), (CHL), (COP), (NIHD)