Learn Baby Learn, So You Can Earn Baby Earn!

Feb 16th, 2009 – Comment

Hey Lou: Happy Family Day to you and your family.  Hope you enjoy the day.  There are 2 things I wanted you to comment on. 1. Wondering if you could do an analysis on your web page on Agrium. Wise In So Many Ways 2. I really want to get a better understanding of how […]


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Lou Schizas is an equities analyst, investor, entrepreneur, professor and television and radio personality – and a true believer in the happiness-inspiring powers of capitalism.


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Hey Lou:

Happy Family Day to you and your family.  Hope you enjoy the day.  There are 2 things I wanted you to comment on.

1. Wondering if you could do an analysis on your web page on Agrium.

Wise In So Many Ways

2. I really want to get a better understanding of how to read charts (i.e. technical analysis).  Are there any courses you can recommend or some type of 2-3 day seminar that would give me a basic understanding of the concept.  As well, if I wanted to take a course on day trading, what could you recommend.

Thanks again Lou and we’ll hear you tomorrow morning.

Robert

Hi Robert,

I have had a great weekend. My daughter Madeline turned 6 on Valentines Day. We went to the Ontario Science Centre and had lunch at the Palace Restaurant where we were treated like Royalty. Yesterday Madeline had her skating party for her friends and today was a perfect day of leisure and reflection!

I love the fact that you want to improve your skills and that you are willing to put some effort into it! The headline I used today is actually my favorite quote from Dr. Martin Luther King who knew that educating yourself would translate into upward mobility.

The best place to get a solid grounding in technical analysis is through the Canadian Securities Institute. They offer a self directed learning course in Technical Analysis that is excellent. Use the link to the CSI to get started.

Agrium took a hit lit everyone else in the fall of 2008 as the world economy went into a tailspin after Lehman Brothers blew up.

Making the Turn

Making the Turn

When you look at the chart you can see that the MACD turned positive in late December of 2008 after the stock hit a hard bottom at $30.The run to $50 has been quite generous for investors who took a position earlier in the year.

The next level of resistance is at $60 and the $70 so watch those levels if you are going to enter at this point. There seems to be support at $40 so think about that as a significant level if it reverses on you.

The other pattern that you can see in this chart is the head and shoulders indicating a reversal of the uptrend. Right and left shoulder at $90 and the head at $110.

Remember Robert this a a trading market so check your position every day so you can book some profits.

Happy Capitalism!

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