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Chartology - There Will Be Blood

Monday, 25 Feb 2008 | 6:51 PM ET

What can you learn from the charts? Esteemed technical analyst Dan Fitzpatrick reveals how he’s trading the trends.

Dan Fitzpatrick is the Co-Contributor and Technical Analyst for TheStreet.com and he joins the panel for this conversation. Following is a summary of his main points.

Chart:S&P 500 Inverse ETF with 50-day moving average.

Analysis: It seems that we’re currently in an uptrend in a downtrending market. Buy on any pullback to its 50-day moving average, he counsels, or on a breakout above $65.

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Chart:Cree with 20-day moving average.

Analysis: I like this company, says Fitzpatrick, in part because analysts hate it. Buy now or on a breakout above $34.

Pete Najarian and Guy Adami agree with the call.

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Chart:Annaly Capital Management with 20-day moving average.

Analysis: Analysts like this company because NLY doesn’t have any subprime exposure, Fitzpatrick says. However, I think it’s too late to buy unless it's for a quick trade. And watch out for $24 ceiling.

For an in-depth look at the charts used in this analysis please watch the video.

Charting the Markets
Highlighting this week's expected market winers and losers, with Dan Fitzpatrick, TheStreet.com contributor, and the Fast Money crew.

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Trader disclosure: On Feb.25, 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 (ATVI), (YHOO), (DIS); Najarian Owns (C), (MS), (MSFT), (XLF), (YHOO); Najarian Owns (CCOI) Calls, (AA) Calls, (NTAP) Calls; Najarian Owns (ACI) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MSFT), (SUN), (TYC), (WMT) (YHOO), (AAPL); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (LEH); Finerman's Firm Owns Shares Of Royal Bank of Scotland Group plc; WWE Programs Air On Networks Of NBC Universal, The Parent Company Of CNBC; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC; GE Is The Parent Company Of CNBC; Fitzpatrick Owns (CREE)

  Price   Change %Change
CREE
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NLY
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SDS
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