A couple of possible long set ups

To paraphrase a famous TV advert from years gone by, I couldn't give a Castlemaine XXXX about the fundamentals of a company, whether its considered to be good 'value' or one with a devoted investor following. To me, price is everything. If it's going up, I'll be long, and if it's going down, I'll be short. I don't care whether I make money on the long side of the short side - I simply follow the price action, which, it should be remembered, gives the overall consensus of traders and investors the world over.

A trend follower can be long one week, and short the next, depending on his system parameters. I've been accused in the past (and I'm sure I will again in the future) of being a ramper or de-ramper of stocks, which, if anybody to the time to look, is clearly incorrect. The charts make the decision for me as to the direction I should be trading. To me, that's the beauty of trend following - the only decision you need to make is whether to act on a signal or not - no interpretation of oscillators or indicators, or earnings reports and news updates is required. The chart and the price action tells all.



Right, having said all that, here's a couple of charts of UK stocks that appear to be setting up nicely for long trades, and will be in my portfolio if the entry signal is given. Of course, there's no knowing if they will be profitable or not - but I'll place my bet, control my risk and see what happens.