Solid Day

Posted by downtowntrader | 6/01/2006 11:02:00 PM | 1 comments »

Although volume was lower it was nice to see the Nasdaq leading today. That is a clue that bears watching as the Nasdaq is the most oversold index and testing the lower end of a long term channel. We'll see what transpires tomorrow after the jobs report, and whether volume picks up.

BOOM was mentioned on Madmoney today and may be highlighted on tomorrow's show depending on whether viewers select them as the "orphan" stock. Looks strange when I type it, but you can read the details here.
I saw some strength in Internet related stocks today and the following three stocks have potential for outsized gains.

TZOO has started to turn back up and if they can gain some momentum the huge short position could be squeezed.
BIDU will have a nice move if it can clear obvious resistance.
PCLN held up as the market pulled back and look like they are starting to pick up steam.

Keep in mind that the markets are still pretty skittish so it's not time to be fully margined long, however, it is looking like there will be a little more upside here.

Good Luck,



  1. Anonymous // 8:28 AM  

    Boom got a JPM upgrade today too. Plus the Jeffries of earlier this week, Zachs, largest contract win ever, SNPE sale, new board...well as you can tell I am long BOOM. Thanks for your help a few weeks a go. Jim