The Dow
has done well from its low and would be a break out buy over
13,495 as that likely would lead it up 200 points at least. A
move back under the 38% retrace line would also violate the
trend and drop it back to the low from 2 weeks ago.
The Nasdaq floating in its island
but above the 50-day still. A real break to the upside would be
over the dotted line.
The NYSE similar to the Dow and the break out/down points
shown.
Too bad that the Russell 2000 lost all it charm this year
- we had a splendid 3 years of small caps and a ton of profits.
Has been in this range almost 6 weeks.
Oil near highs.
Gold has made a nice
break out just failing so far to make a hew high. The negative
thing though is that gold stocks in general are not leading the
charge. In the past - like in the winter of 2006 and a bit
before, gold stocks were flying in front of gold - pulling it up
with them. Now many are doing little which suggest that the gold
price will top out.
The US dollar hit multi
year lows and put in a little bounce on Friday. Seems rather
oversold at the moment. The low dollar is good for US
corporations who sell overseas but sure not good for US tourists
who travel overseas. During the strong economy of the 90s the
dollar was strong but the current economy is weakening and
hopefully in time the rate cuts will help.
Economic calendar from Briefing.com
besides the FOMC there is also PPI, CPI and Housing
Starts.
Some brief notes on story stocks.
NNRI consolidating this week but ending up for the week. The company will make a seminar and
presentation to the largest German utility company E.ON on
Tuesday. I expect this company may become one of the large
buyers of their shielding materials like FEECOM and BIECOM.
If you have never read this report
we recommend it as there is so much information on NNRF and what
they are doing. Not many young companies have such a thorough
reports. NNRF 45-page report
Strategically Positioned for the
“Dawn of a New Nuclear Age”
The stock broke out above the trend line and the 50-day this
week. There had been only a couple of touches of the top trend
line so a pullback happened as is common to once again test
support which it did on Friday. The break out IMO is a pointer
of what is to come and think we will see another one pretty
soon. Each time this has pulled back in the last 2 months the
support level has gone higher like a stair step and that is
bullish.
PLTG - we pointed out that this was in a nice bull flag
and it broke out on Friday. We have a
Shareholder Update on
the company progress. This is from
Mr. Blair
Merriam, President & CEO Platina Energy. I think you will
see the excellent potential in the company that is unfolding.
CYRX successfully was approved by the NASD to move to
the OTC from the pink sheets so they began trading there this
week. Now the company can release news as they have it.
Watch it for a break above the 50-day EMA as it is like a trend
line and the stock could move quickly if it has good volume
above there.
CFPC released very good news last week that they are
entering the Chinese market with coffee shops. This week it has
pulled back on much lighter volume and that is bullish in that
the volume is low. Must have some real short term holders not
wanting to make good gains by holding.
HSXI will soon release the name of the joint
marketing drug partner company. They will also start to
manufacture the latest version of
enSonix@home within about 21 days.
PYR.v sitting now as we wait earnings update. Good
accumulation area.
Now additions to our watch list
AMZN Over $89.00 or maybe $88 for risk takers
LFC Above $73.91
CPTC Over $1.80 - not a perfect entry but if volume
is good I think it will work
CAH This one broke down by end of Friday so now a
continuation short or on a
bounce back to what may now be resistance near $65.00
FCX Over $98.00 then $100
KO Over $56.60
CBH Over $39.13
AMX Over $62.00
NILE Over $90.00
WWY Over $63.00 or a bit less
KWK Over $47.00
Photographs from
Jeremy Turner
That's a full lid for today - will see you all
during the week.
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