Some Charts to Start off 2007
I hate to add to the bearish consensus but I have to call ‘em like I see ‘em. Right now I’m seeing a lot of charts which look ready to roll over. A good number of them look a lot like the QQQQ chart — a weak bounce back to the 50-day moving average which reminds me of many of the patterns in William O’Neil’s ‘How to Make Money Selling Stocks Short’. For now the opportunities look better to me on the short side.
Below are charts of the indices as well as some of the better (worse?) looking stocks I found in my scans, including LRCX, BRCM, AAPL, MVL, RIMM, CIEN, RACK and GOOG:
tagged: Apple Computer Inc. (AAPL), Broadcom-(BRCM), Ciena-Corp-(CIEN), Dow-Jones-Transportation-Index, Google, Lam-Research-(LRCX), Marvel-Entertainment-Inc.-(MVL), QQQQ, Rackable-Systems-(RACK), Research-in-Motion-(RIMM) and Technical Analysis
