- 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
Here are some of my observations after I looked at 1033 charts last night.