I just finished going through my scans and while I (obviously) saw a lot of strength there was nothing that I'd buy right now. I think the easy money was made buy getting long on Tuesday. After a 4.55% move in the Nasdaq over 4 days I think it's wise to wait for some weakness before I put new money to work. (I'm not talking about day trades.) How much weakness before I become a buyer? Ideally, on the Nasdaq, a pullback to the old resistance/new support around 2,275. But a few days of sideways action may do the trick as well. I'll just have to be patient and see what develops.
I think you're right for the most part on initiating new longs, however, Oil services and silver/copper may be exceptions. I posted some charts on my blog tonight that show some possible plays.
DT
http://downtowntrader.blogspot.com
How can I make the charts readable?
KArin,
What are (aren't) you seeing? The charts look fine to me
I was refering to downtowntrader.blog (any help?)
I agree- I can't read them either...when you click them to make them larger they are not readable...and if you don't click them they are too small to read
I'll leave a comment on his blog to let him know.
I can see them OK on my browser, so not sure what the issue is. When I click to enlarge I see it fine. What browser are you using? Thanks,
DT
I tested with IE and It worked, but you have to move your mouse over the lower right hand side and wait for the maximize button to appear.. I will post an example on my blog.
Thanks again,
DT