Wednesday night update

Posted by downtowntrader | 3/01/2006 10:38:00 PM | 0 comments »

Strong move today for Nasdaq. Tech's led a charge today and it looks like several names are breaking out. Dow and SP500 lagged today and small cap volume wasn't all that great either. CSCO broke out today and I would look to FFIV, FDRY, and NTAP to possibly run tomorrow.

Basic materials look like they get a bounce up here off the trendline. Big warning here though as volume was pathetic.
PCU looks like it will bounce here after copper's strong move today.
CBST looks like it's breaking out here.
AKS may move if basic materials get the bounce.
JCP continues to show strength.

AEOS reported earnings and management is really being rewarded for sticking by their company and buying up shares at 20. Cleared all sorts of resistance today.
ENG testing trendline here.
HAL is at bottom of channel and showed a little strength.
EZPW looks like a nice triangle break.
KEYS is another triangle break.
Big Triangle break here for MIDD.
TS looks good here too.
Here is a short setup. LMS broke down yesterday and gapped up today and couldn't hold any of it.
I was at the mall the other night and I passed by a Coldwater Creek store. The place was a cemetary. No one was in the store and I watched for a little while, and no one went in. Not one. Not that it means anything, but looking at the chart, CWTR broke down and then had a "Steve Nison" snap back rally, which has a target of the top of base that was broken. It hit target, and now looks like it will pull back. Keep an eye on it.

Good Luck,