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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.38

+0.4%

Dec 24 4:00 PM EST

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To: Lachesis Atropos who wrote (40081)	8/19/2003 3:38:20 PM
From: Johnny Canuck	Read Replies (1) of 69207

It is just traders getting bolder now that the COMPX has 2 support levels under it from the recent low. I has serious doubts we break the recent high, but I would not be surprise if they try to push the market there by Labour Day. The lack of earnings news and the optimisitic need to see some sort of recovery should get it there. If the economy really deos see an uptick in the 2H then CIEN, UMC, and PXLW would be my intermediate time frame position trading choices. They would benefit from upticks in telecom, chip foundaries and consumer demand. I am not convinced this is the case though. Bought some TKE on the Toronto exchange as a natural gas play earlier in the summer at $3.50. It is a small position though as the natural gas story is pretty murky. Too many stories and not enough facts. I have not idea if there is a true shortage looming or not. Inventories have been rising, which should be a negative for natural gas suppliers, but this does seem to be the case.

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