{+++}When I look at the charts of the major indices, they are still very bullish, and to be short is to guess(on the indices that is). Let’s follow the momentum for now until the trend changes, the market is begging to break but won’t, so therein lies the rub. Let’s keep our stops tight, this could roll over in a second. George Carlin said he never worried about “all hell breaking loose” he was worried about “part” of hell breaking loose because that is the part you never see coming. Be alert, let’s not get lulled into complacency.
WATCHLIST FOR AUGUST 26
LONGS THAT HAVEN’T TRIGGERED YET:
OREX-OVER 8.90 THEN 9.47
EXEL- 6 or 6.10 STOP 5.70
CNO -buy on a pullback to 4-4.20 level stop 3.75 level
AXL- you can buy around here with a stop around 5.50
Sorry to be a little vague on some of these smaller names, but they are harder to game, I think you guys get the picture.
LONGS (THAT HAVE TRIGGERED):
CNO – 4-4.20 level stop 3.75 level
AIG 35 STOP 37 ( exploded today)
RMBS 19 (stop 18.40)
BCRX 10.40 STOP 11
AMP-29.92 29.25
CTSH- 35 STOP 34.25
QSFT- 16.25 stop 15.75
ACAD- 5.25 stop 5.20,
QCOM 47.60 stop 46.25
SHORTS THAT TRIGGERED
AMGN- 59.70 STOP 61.50 (stopped)
AMG 61.60 stop 63.75 (stopped)