- With all the negative news about the financials, you would have assumed that the stocks in these sector will take no time to race to ZERO but the charts are showing some dribble of support and not a lot of bear action. Fear of a possible Value and Consolidation play is keeping these short sellers from pressing these stocks down to the ground.
- Defense stocks are showing a tale of 2 tapes. Some stocks are showing good accumulation pattern while some are just hanging in the air waiting for that final plunge.
- DNA, a stock we have discussed in wallsteak a few days ago after it gapped finally showed it's true color which is green.
- Chemical manufacturing/agricultural stocks are showing strength here.
- Coal stocks are still hot.
- There are a few notable Tech stocks but most are just showing no signs of life.
- Silver is the new Gold and Gold is the new Diamond.
- Because i'm a betting man, my money will be focused on steel and oil stocks.
Tuesday, March 04, 2008
Market observations
Here are some of my observations after I looked at 1033 charts last night.
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3 comments:
Thanks for sharing as always!!
Pinoy,
Great to know that you would be talking more educational.... always wanted to learn more from you... but could you please keep on posting the stocks you are eyeing in the sectors... that will help us all... and if you close a postion, thats also great info. there were times when I was entering positions and you were exiting, and learning from your position exits had helped us so much... so, pls keep on posting sectors/stocks you are watching and if possible, the trades...
thanks again !
amit
Glenn,
How are you doing these days? I'm glad to be able to help others as I have been blessed a people how also showed me how to trade when I first started.
Amit,
I'll try to post write about market observations and see if I can include some of the stocks that I'm watching.
-MC
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