Two Gaps Down?

Posted by downtowntrader | 1/18/2006 09:01:00 PM | 0 comments »

We have two straight gaps down on the Nasdaq and both days ended as stalemates for bears. Indices don't like to leave gaps and I think these will soon be filled. Today looked like it would be a bloodbath but aside from a few techs I didn't see too much follow through for the bears. Tomorrow will be telling after Apple disappointing guidance and EBAY's miss. Dow looks worse right now as it touched the 50 day SMA already.
MMUS: I've been following this for a while and today they released some news and it seems like this has just been waiting to explode. Keep an eye in it tomorrow.
I love how volume has been building on weekly chart.
I've been waiting for a TALX pullback and I'm not sure if people got confused with the split today but TALX reversed hard after touching the 50 SMA. I added to my position at 29.70 this morning and was rewarded almost instantaneously. They report earnings soon and there may be an earnings run.
VAR: I profiled this Monday night as a possible earnings runner and this morning when everything was down, they were quietly moving up. Resistance is broken and they are at all time highs with no resistance in sight.
PRAA: They were profiled on tonights IBD in the New America section and the chart looks interesting. Looks like a cup with a high handle base.

Good Luck,