U.S. dollar rebounded FRiday helps Dow and Nasdqaq; Dow +66 points, and Nasdaq up huge 62 points.
SKG closed @.215 near the top of the box range between .205 and .215.
Look for a decisively breakout on the top side with 3 or 4 million volume traded.
Once SKG broke that .22, watch out folks, the dark black BEAUTY PENNY will be .39 or more.
GTR penertrated that $4.40 down to $4.26 bearly managed to closed at $4.44.
BIO.al is a wild animal, traded with 1.2, 1.4 666,00 volume, very good candiate for trader.
Futher detailed price action analysis will be followed on these three stocks.
Oil and oil index are awaiting OPEC meeting September 22, 1999.
OIl price has to go at a run of correction, at this near $25.00 a barrel yet oil index down down down from 547 to near 513, near 34 points down move indicating something went wrong with OPEC, why the hell traders began to sell oil stocks.
let's check RGO and GOU price movement::
chart.stockwatch.com
chart.stockwatch.com
RGO tried 3 times to break that $8.00 and failed totally, indicating RGO is top out, soon $6.00 soon $5.50. It is no way to make money by entering RGO from this points. It alos indicated oil maybe top out, too after OPEC meeting, I start to feel that OIL price maybe will bre crashed to $20.00 or lower.
Based on buy low sell hi concept, this is no the time to buy oil stocks, as it appears very toppy, indicating it is very risky to say the least.
John Paquet |
