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Stock Tiger Update
For Friday October 27, 2006
Hello -
Dow
+28.98 at 12163.66, Nasdaq
+22.51 at 2379.10, S&P
+6.86 at 1389.08
Market continues its
advance so stay with the trend.
This housing data is from yesterday but passing it along as does
not look like any huge change in a year.
Existing home sales fell 0.5 percent
to a seasonally adjusted annual rate of 6.30 million units in August
from a 6.33 million-unit rate in Ju1y. Economists had expected sales
to fall to a 6.25 million-unit rate. David Lereah, NAR's chief
economist had said then, "After a stronger-than-expected drop in
July, the fairly even sales numbers in August tell us the market is
at a more sustainable pace."
The DOW continues to new highs but so does the NYSE so it is a
broad based rally. We will have more on the weekend of
course.
The Nasdaq is catching up also
which is good and it hits its yearly high.
The largest techs have not quite made it to the yearly
high yet. MSFT reported a bit better but guided a bit lower.
Actually a coupled hundred million one way or the other does not to
me seem like much.
Several are now saying it is time for gold stocks
again. We did have HMY and RNO and SWC
(palladium) recently and all made nice profits but even though gold
is in a long term uptrend I am not excited by the sector in general
as yet. The GLD chart is about the same as the
metal but updates in real time. Would like it to test the moving
average again $550 in gold terms or even the lower line would be
better. If not then want to see a break of the top trend.
And the ratio chart - want to see also a trend break
and then a EMA crossover.
The 60-minute Gold Bugs chart did break the resistance
so interesting enough to watch the stocks to find setups.
We continue to have some nice new buy break outs each
day.... One more day of trading but we have a few
more charts to add to the watch list. FDC may
be over extended short term but we will set an alert at $24.60
EEFT interesting chart and now back above the
200-day so a break may move it a couple of points.
CLZR is a gapper on good earnings but above
$14.76 it may made another run.
SGF has been quite vertical also but lets watch
it for a break as well.
SABA a better chart and has a 200-50 bullish
crossover so above $6.06 a trade
MTRX straight forward above the recent
high
And a penny MGIC if it gets running over $2.00
That's all for now - have a great weekend and see you in a couple of days.
Remember
to check the ........Earnings Calendar
on all overnight holds
Check the message board
also
for other good stock candidates as there are several there right now.
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StockTiger.com
Stocktiger@stocktiger.com -
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