Frustrating Rally at 2005-11-12 23:55:02
I was almost driven into insanity today. The market was on fire with the "kick Greenspan to the curb" news, and the two stocks in my trading portfolio are down a total of 60 cents. On a positive note, YHOO fell close to what I hope is it's new support level of 35 and held up well. Hopefully we'll see some upward movement by the end of the week. I believe it could hit $38-40 sometime in Novemember or December.
Notes: SGP had a good earning report. Watch to see if it breaks out to new highs ($22.53).
Was not impressed with MRK. Consider shorting.
MSFT rose on upgrade. Consider on low volume pullback. Still think stock should get boost from XBOX 360.
Keep eye on REDF. Up over $4.00 on great earnings and hit new high.
Consider shorting Energy/Oil/Natural Gas stocks if there is a short term runup on lower than average volume.
Watch TXN.
QQQQ could breakout of a consolidation. Go long if it breaks out above 40. Could play the 37.75-40 support and resistance areas. Also short if goes below 37.
Keep an eye on tech sector. Best candidate for money pulling out of energy sector.
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