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Morning call...first look. Be prepared.
at 2006-02-06 23:45:28

Educational use only. Never intended as advice. You own your investment decisions

Morning call…first look.

Here’s a partial look at my “Daily Trading Plan”, although decisions ultimately happen (the trader’s job is decision-making) based on active dynamics superimposed on the background of longer-term action (Dynamics outlined in daily reports)

Water stocks
Nothing expected long, Suez very overbought

Homeland security stocks
Manage existing positions (not disclosed as low volume equities)

Proprietary markedly overbought
USG
ARS
ESL
FLR

Proprietary marked oversold (today’s market tells)
BAC
C

ETF Oversold (proprietary)
RKH   141.15-140

ETF/OEX  Narrow range trade setups
TIP 102.69-102.45
BDK  86.06-85.16

Observations:
Futures relatively neutral pre-market

85 of 218 ETFs have made at least 6 week highs and are now priced below the open of one week ago (negative – Connors’ undeniable)

18 of 45 ETFs trading over 400,000 shares per day show the same pattern

Bullishness by point-and-figure charts into overbought zone again

Volatility bands (selected)
  • BBH   2.12

  • DIA  .65

  • ICF  .72

  • IWM  .72

  • IWO  .79

  • MDY  1.06

  • NEM  1.26

  • OIH  2.91

  • RKH  1.05

  • RUT  6.63

  • SPX  7.60

  • UTH  .99

  • BAC  .36

  • C  .43

Good trading and great risk management.




Ron



  





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