Bulls take over

Posted by downtowntrader | 8/03/2006 08:03:00 PM | 0 comments »

The bulls took over today after a sharp drop at the open. At this point it looks like the bulls will remain in charge until the fed meeting, unless tomorrows jobs report is a doosie. I am trimming back on positions and starting to daytrade more until after the meeting. Here are a few charts that may see some follow through tomorrow.

CTSH had a strong move today following through after yesterdays gap up.
CRY looks like it finally cleared this little consolidation area.
SII was able to clear resistance after bouncing off the 20sma.
I was emailed by the folks at InstantBull.com about their new service letting me know that I was on their blogs link. I checked out the site, and it looks very promising. For those of you that like to cruise the message boards, there is a cool feature that lets you browse multiple message boards for a particular stock. You can also check out all the news for a stock available on the major sites such as Yahoo and Google without having to browse to multiple sites. Very cool indeed. Check it out when you get a chance. I think many of you will find this site very useful.

I'm taking off for a long weekend, so I won't be trading tomorrow. BOOM reported after hours and may move nicely tomorrow for those interested in a gap play. My buddy BTUFF, who is the man with Boom's fundamentals, says it was a blowout report. Let's see if the stock price correlates.

Good Luck,