Hi Jack...
Looking at the S and P, we have a rectangle pattern, measuring 1220 by 1280...The neckline is at 1280...That gives us a short-term target of 1340 once the Dow makes its genuine 10,000 move...I am looking for some consolidation here with the S and P possible coming back to test the neckline at 1280, before the next move up...ADX sits at 25 and is moving up..MACD Histogram weakened yesterday, and shows me a breather in the uptrend, but it shouldn't be long before we make the move to 1340...
Yesterdays trades:
1. FAXX for 1/2
2. NEM for 1/2
3. HELO for 2
4. IINT for 1/2
Bad trades:
1.NVDC for -1/2
2.HMTT for -1/4
Today I am looking again at the oil sector...
These look good at present prices..
1.UTI at 8 1/4
2.GLM at 10(1,2,3,4)
3.ESV at 10(1,2,3,4)
4.RDC at 10 (1,2,3,4)
Gizzard keep an eye on:
1.VTO
2.DWSN
3.LWIN
4.LTXX
Real busy at work..wife has to do taxes today, so probably won't be able to talk her into trading...May just set a few buy stops, and come home for lunch and take profits if hit..vbg
Regards, Mark |
