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Charts courtesy of stockcharts.com

Thursday, August 21, 2008

FXEN

This broke out to a new high from an old high going all the wasy back to November. It's been in a nice uptrend lately while the rest of the energy sector is getting smashed. Relative strength got to a new high well before price, but CMF peaked back in July and has been declining. This is one of the few oil exploration companies that loses money, so I would be really careful here.

2 comments:

thierry said...

i like to read your blog
i like the chart , i am knew in the game ..i would like to ask you
where you find the relative strenght , it does not lokk like the rsi that you find in the stockchart.com
i was reading the old book from stan weistein , is it that relative strenght ???? where do you find it ??? do you think this one could be a short soon ???
hello from florida under the storm
hope that the electricity will last so i can read your blog
good job

David said...

Hi Thierry,

Thanks for the nice comments. Relative strength is the term William O'Neil uses, but stockcharts uses the term "price relative", which is probably a better term and also prevents confusion with "relative strength index" (RSI), which is a completely different measurement. To get the price relative on stockcharts, go to the overlays and change it to "price" then enter "fxen:$spx" to compare it to the SP500. Don't forget the colon.
Hope the storm hasn't done too much damage their. I have been through hurricanes when I lived on the east coast, so I know what they are like.

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