OSG and SWC on 12/28/06

I am attempting to post position trading candidates again. I intend to slap a couple of charts on once in a while for positions trading. Again, these are not for day trading so positions should be valid for a couple of days. I have not yet decided wether I will follow-up when I close my interest in these. Today I look at OSG and SWC. FYI, I am again going back to my first love and maintaining a list of current candidates on StockTickr.

First we look at SWC. This one had a nice uptrade in the fall, from October to December. Early in December, we saw a pullback and minor correction as the title dropped from 13.58 to low 12$ a share. In the recent days. We have seen three positive ticks, the Stochastics getting ready to give the buy signal and the MACD Histogram slope turning up. This one should start to recover very soon. I am hoping a new uptrend, taking us past the 13.58 watch out for resistance at that level.
SWC Daily on 12/28/06

Next we look at OSG. Overseas Shipholding Group has really been in a downtrend recently. Since October, highs have constantly been lower. But this chart seem to replicate at 10-12 bar uptrend that should be easy to trade. I am currently seeing to signal that this recovery should happen again with the MACD histogram turning up. Of course, this title being in a down trend, you have to really pay attention to reversal and don’t hold it if the MACD shows any signs of weakness.
OSG Daily on 12/28/06

Happy Trading!

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