Mixed Day

Posted by downtowntrader | 2/21/2006 10:10:00 PM | 0 comments »

Mixed day today as indices were down on lower volume with market internals more neutral then bearish. I'm not shorting much as I wait for this move to play itself out. OIH is up against resistance but hasn't broken back down yet. Tech is also weak lately, but may be due a technical bounce. Congrats to those playing ADAM and COGO. Look for possible follow through tomorrow.

CMCO looks good as it breaks to new highs.
ASFI is building momentum as it breaks resistance.
GVHR has been building this base for a long time. Just poked it's head through resistance.
DIET pulled back on lower volume, but real story is NTRI earnings. DIET was moving higher after NTRI started running on earnings release.
I've mentioned TALX possibly bottoming out on a few occasions, and it looks like they are confirming support.
SLB looks like a decent energy play as they are not tied directly to oil prices. They provide information systems services to the oil industry.
Looks like CLB had a bunch of people waiting for a pull back.
SAY is testing support here.
SOX looks like it broke the rising trendline here. Support is nearby, but the break of the trendline can't be good.
SMH looks like it is forming a possible head and shoulders. This one also has more support nearby.
MRVL is coming up to support as well. If support fails, it could make a nice short. If it holds, well, then it's a nice entry for longer term traders.
AMD looks very strong compared to the rest of the semiconductors. If we get any kind of bounce in semi's, they will lead the way higher.

Good Luck,