"Bonehead" stuff: as outlined in post #34385, along with warnings last week from myself and especially Rande, most techs are continuing new short term downtrends from overbought conditions in August.
There are now signs that some issues may be bottoming after this morning's 50+ pt slam.
For position traders (like myself) there are two approaches right now: aggressive and conservative. Basically, there are very few conservative buy signals on my charts (exceptions would include QCOM and NXTL).
Aggressive position traders (like myself) can begin to establish new positions in: ADAP, NT, JDSU, SCMR, DITC (44 5/8 is just about perfect with close stops), ICGE, ADPT (23 is also perfect with close stops), AKAM, SPWX, BKHM and a few others I'm still tracking. Many others are still too risky for all but the most skilled daytraders.
Protective sell stops are recommended for all but the fastest marketwatchers.
All the above is my opinion only--MK-- |
