Pockets of Strength

Posted by downtowntrader | 10/05/2005 12:54:00 AM | 2 comments »

I was happy to see some pockets of strength today. Keep an eye on these three stocks tomorrow as they did not wilt in the face of todays pullback. Actually, all three went up towards the end of the day. I like to look at intraday charts to look for strong or weak finishes. I watch these three closely, as they are holdings right now. All three had one thing in common today. They all closed strong and near high of day.

HOM had pulled back with the rest of the market, but look at the last 15 minute bar. Although they ended the day pretty much unchanged, the last 5 minutes may be a preview of what's to come. I will look to get out on a lower low, but I fully expect them to trade higher.

I had planned to take profits on ENG when they challenged the broken downtrend line, however, they also had a very powerful 15 minute candle to close the day at the high. I will watch tomorrow closely.
BLDP built up volume througout the afternoon and also closed with a nice 15 minute candle. I daytraded this stock a couple days ago, but bought it back when it broke the resistance line. I am swinging it now, and will continue to move up my stops based on intraday support levels. Good Luck,



  1. 'Thought & Humor' // 9:51 PM  

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    'Thought & Humor'

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