Runner's Rascals

Here is the BKX not looking well to me, but I'm not a bottom picker and for now I'm not seeing it as a long, 2 gaps against the trend?

This is the S&P500 Banking Index or BIX. Banking has not been participating in the last rally. It has been caught in a sideways range. Notice on this chart the double top action. I see the Bears are taking note of the 200 DMA. I will not get bullish here until the price gets out of the range to the upside.

Now this does not mean that Banks won’t participate in the next rally but for now I’d leave it alone. Set up bias I have is short since it moved below the base. The BIX is in a due or die position here IMO.

Runner, I tried sending you a private message but your mailbox is filled and it won't accept any more until you clear out some space.

Diversified Electronics looks good. It also appears to have completed a corrective cycle and is gaining some ground.

This weekend I plan on looking at the longer-term charts of sectors off monthly bases

1. Data Storage- appears to have completed a cycle from back in 2002. This sector looks pretty good to me going into 2006. Notice pop above trend line

Runner,
Here are some stocks that are about to move:

SYNP DWCH FTHR HOKU TXCO ELP ICCA

Keep track of them for a while and good things will happen.

billyjoe

Hey Billyjoe those charts are looking pretty darn good. Awesome find their!!

[billyjoe]

Runner,
Here are some stocks that are about to move:

SYNP DWCH FTHR HOKU TXCO ELP ICCA

Keep track of them for a while and good things will happen.

billyjoe

What a difference a day can make!

Top 5 ARD GDP FWLT TESOF RES
Bottom 5 MFLX OVTI ALKS BRCM TRAD


Gainers 6
Losers 33

Weekly TOT= -.41%

Conducted initial scan not many longs setting up and so I have no list going into next week.

TTI gone 38.05
BG gone 57.51

Back in Cash

Closed entire position on FWLT @ 44.08. My ITP was 44.87

As a rule of thumb, in a fast market you want to wait at least 30 minutes into the open before buying or selling. This lets the emotional traders and newletter subscribers get their trades out of the way. The market makers also watch Cramer, etc., and know what's coming; they deliberately goose the offer or dump the bid to panic the sheeple and then move the stock back to where it "should" be.

Nice inverted hammer so far today on ALKS.

Dave, thanks for the heads up. I simply followed my adjusted plan. Hey we can’t win then all right?

As a rule of thumb, in a fast market you want to wait at least 30 minutes into the open before buying or selling. This lets the emotional traders and newletter subscribers get their trades out of the way. The market makers also watch Cramer, etc., and know what's coming; they deliberately goose the offer or dump the bid to panic the sheeple and then move the stock back to where it "should" be.

Nice inverted hammer so far today on ALKS.

Here was the opening action. My hard stop would have been hit!

Closed out ALKS today. I pulled my stop @ the open (22.76). Stocks sells off hard. I looked at the opening range and make a quick plan to dump it at upper range. Got out at 23.82. This little technique saved me from getting a bigger loss. Now this stock can do what ever it is going to do. This technique like any only works when it works.

In review of my nightly scans it appears that today was the day of opportunity. So many stocks trigger long today. Now I have not come up with much. My database has over 6,000 stocks in it and I’m not even going to run through them all. I stopped after 300 charts and this is all I got WBMD AVN.R DWSN PRX BGC.