Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (4471)	12/5/2003 6:43:13 PM
From: Ruffian	Respond to of 108662

<look to get long in stronger sectors that have recently pulled back. These include (but not limited to): gold, banks, telecom-wireless, silver, metals & mining, generic drugs, and health services. However, as always, wait for entries. Looking to potential setups, Apex Silver Mines (NYSE:SIL - News) looks poised to continue its persistent uptrend out of a Trend Knockout (TKO).> What's Making Me Bullish Thursday December 4, 6:55 pm ET By Dave Landry No Tickee, No Tradee Arthrocare (NasdaqNM:ARTC - News), mentioned Wednesday night, sold off hard on Thursday (a). Fortunately, it did not trigger an entry (i.e., did not trade above the prior day's high). As you can see, waiting for entries can often keep you out of a potentially losing trade. Looking to the indices, on Thursday, the Nasdaq rallied in early trading but began to sell off by mid-day. However, it found its low late in afternoon trading and then rallied going into the close. This "tail" lower sets up a high-level cup and handle. The S&P also traded lower but reversed to close well and in the plus column. This action keeps it above its recent breakout levels. , especially in the Nasdaq, is constructive. It suggests that theSo what do we do? The intraday turnaround correction may be over. Even areas hit especially hard earlier in day, such as retail and the semis, came back strongly going into the close. This action lured in some eager bears (some of which felt compelled to contact me) and could clear the way for higher prices. Further, my database is generating a plethora of setups on the long side (remember, my methodology requires a pullback). Normally, when this occurs, it's a good time to trade. Ideally though, I'd prefer to see the market more oversold and some of my buy signals kicking in, but as Mick says, "You can't always get what you want." Considering the above, look to get long in stronger sectors that have recently pulled back. These include (but not limited to): gold, banks, telecom-wireless, silver, metals & mining, generic drugs, and health services. However, as always, wait for entries. Looking to potential setups, Apex Silver Mines (NYSE:SIL - News) looks poised to continue its persistent uptrend out of a Trend Knockout (TKO). Best of luck with your trading on Friday! Dave Landry