Posted by 24 August 2004

Watchlist for August 24, 2004

Once again I’m overloaded with shorts. A few groups look particularly weak — oil, drugs and various health care related stocks. The market’s set to gap up today, apparently on the back of lower oil prices, so many of these shorts may not trigger. Currently holding:

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Posted by 23 August 2004

Quietly Consolidating

It was a pretty quiet day today with low volume and little price movement on the indices. I am seeing a lot of bearish candlesticks on overbought stocks that are bumping up against important levels — be they moving averages or upper Bollinger Bands. So I wouldn’t be surprised to see more consolidation and/or an [...]

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Posted by 23 August 2004

Watchlist for August 23, 2004

I’m in broken-record mode as once again I’m seeing lots of good looking shorts and very few longs. There is an increasing number of strong stocks, but few of them are giving entry points that I like. (Be sure to stop by this week’s Carnival of the Capitalists.) Currently holding:

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Posted by 23 August 2004

Multiple Moving Averages Converging

Charts galore today. First, the S&P 500, which has had a nice run off of the bottom but is now running into its long term group of Multiple Moving Averages (MMAs). I’m expecting those MMAs to be resistance. If it can take out the early August high, thereby making a higher high, my view will [...]

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Posted by 20 August 2004

Free 1 Year Stocks, Futures & Options Magazine Subscription

I was just flipping through Stocks, Futures, & Options (SFO) magazine in the bookstore and saw their offer for a free subscription. Go ahead and snag one before they change their minds.

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