CNBC on Sirius

Posted by downtowntrader | 9/27/2006 09:30:00 PM | 0 comments »

I rarely tune in to CNBC during trading hours, but I was running some errands today so I had CNBC on in the Car, on Sirius Satellite Radio. I was cracking up at how excited they were about the Dow all time high and how "important this was to investor psyche after the bubble". Last I checked, people lost their asses in Nasdaq stocks, and those are no where near even recent highs. It takes a long time for these wounds to heal, and this is why we probably won't have a runaway bull market for quite some time.

The indices are slowing down and it will be interesting to see what transpires into week end and then in early October. Here are a few charts, both long and short to chew on.

RWC had a huge move today on volume and looks like it is breaking out. The key is if it can decisively take out the 200sma.
LIFC is getting ready to move and it "should" be a continuation move to the upside.
NSM has been looking weak and hasn't really participated in the recent rally.
I hate to throw in a long semi chart after a short one, but MRVL is looking good here. There are some serious MACD divergences and MRVL is close to breaking a downtrendline.
ORB found support on the 20sma and may present a good opportunity in the coming days.
KOMG is another weak looking stock. I've been waiting for it to retrace higher, but it seems to be stalling out already.

On a lighter note, I couldn't believe this when I saw it on TV the other day. When your daughters ask you for the Barbie with the dog that craps for Christmas, this is what they're talking about. I would of loved to have been a fly on the wall for that product development meeting.

Thats it for tonight.

Good Luck,