The Biotech
index stood still.....
Utilites still look weak but that happens
when interest rates rise.
Transports on the other hand look strong
and are just below a break out which you would expect with oil
prices dropping.
The S&P 500 consolidating fine within a tight range.
And the NYSE actually
closed up for today.
The Nasdaq was the
weakest but it had the most gains this year so the pullback is
healthy. Watch the support line now at $2468 -70.
Gold still above the
50-day and may make another move up to the bottom of the trend line
but if it does then I expect it to fall again.
The morning video that we started this year is
getting quite popular as it aims to point out in a few minutes some
of the stocks on the watch list that are close to a possible move.
It is on the home page but also has its separate page as well at.
Morning Video
When a stock hits the buy point we usually change the color on the
watch list to red but that does not mean that there is no longer a
decent risk reward opportunity. Like
CHCG made a gain but
only minor and if it stays above the trend line it still looks like
an attractive buy.
DSTI was one on the morning video that was not on the watch list
as it had no exact price only to expect a reversal and to play it.
Many of the solar stocks that have been going down recently
reversed. DSTI ran up on 4 Million shares and pulled back on 1
million then 1/2 million so the chance that that it would go back up
were very large. I especially like 2-3 day pullbacks. This one
reversed right away today and at one point was up over 30%.
(By the way.. GRSR our long term play in
solar still may move from the pink sheets to the OTC this month so
that may help the activity. It has already moved off its $0.60 low
up 50% but we are looking for $dollars not pennies this year
on it)
Here are some additional stocks to watch
ANAD
would have a break above $10.38
BGO (gold) as pointed out
in the weekend update did continue and break the trend line and now
has a horizontal resistance buy point at $5.55 but it may be
extended now so caution unless it rests a bit or the sector rallies.
ARRS had had nice volume
but sold off last week and today left a shadow top so still not
decisive. The break would be over $13.80 but be aware of its recent
habit of closing below its highs.
STSI shot up today on
word that a law suit may be favorable to the company and it had huge
volume. At the moment it is a momo play as not all details are
known. This means more caution but for momo traders this looks
interesting.
CCBEF one we traded maybe
a year ago or less. Flavored bottled water. Been some very big
volume so may break away from this level.
ALTI a move again over
$2.80 may start it going and has resistance at the trend line and
50-day at $2.90.
THC a gap play - would
enter it above the 200-day at $2.60
January 17 and still no snow in
Moscow. Amazing really.
