Tuesday, October 19, 2004

I smell a rat and here is why

I went through a lot of charts of the stocks I follow regularly and was shocked at how many stocks are in free-fall right now. I don't usually pay much attention to stocks that aren't near an entry point, but tommorow I want to watch these stocks to see if they all continue to fall tomorrow. Note the diversity of sectors represented. Here is a list:

IST (Steel)
STLD (Steel)
PCU (Copper)
PD (Copper)
TZOO (Internet)
UCI (Insurance)
UPL (Energy)
WLB (Energy)
TOPT (Transport)
WLDA (Transport)
DDN (Transport)
ESMC (Medical)
WOOF (Medical)
IDXX (Medical)
AVD (Chemical)
CFC (Financial)

I don't like crying bear, but the MACD on the naz still shows that we are in a down-trend. Today's negative reversal may have sealed the deal, but there is no way to know what will happen tomorrow until tomorrow. Here are a couple of stocks from my watch list for tomorrow that may start a new trend one way or another soon:

EXM Currently consolidating, may break up or down.
HAR, HDWR Both showing some signs of distribution on the chart.


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