Final two trading weeks

There are only two trading weeks left for the year and volume should be relatively light. We may see a light volume rally as the window dressing season begins. The deceptive practice of some mutual funds, in which recently weak stocks are sold and recently strong stocks are bought just before the fund's holdings are made public, in order to give the appearance that they've been holding good stocks all along. Window dressing is where mutual funds pick up shares of the years winners so that they can report them on their year end statement. Also, although not followed as widely, there is some dumping of the years under performers as some funds don't want to show how they held on to some losers. Keep an eye on this years winners such as GOOG, AKAM, NVDA and BID for runs up and careful of this years losers such as AMD for selling off. Here are a few charts that are on my watchlist.

Immucor, Inc. (Public, NASDAQ:BLUD)
BLUD is pulling back to the breakout area and 9 ema.


salesforce.com, inc. (Public, NYSE:CRM)
CRM is trading into a small triangle here after increasing guidance. These are usually continuation patterns, so watch for a move to the upside.


Harman International Industries Inc./DE/ (Public, NYSE:HAR)
HAR has pulled back to the 50sma and lower band. It has yet to threaten the breakaway gap and may turn higher here.


NVE Corporation (Public, NASDAQ:NVEC)
NVEC has been pulling back on light volume and may find support at this trendline and the lower band.


Health Care Property Investors Inc. (Public, NYSE:HCP)
HCP may be forming a pennant here. It might be early, but it is worth watching. Keep an eye on volume.


eCollege.com (Public, NASDAQ:ECLG)
ECLG broke a downtrend and is now backing and filling into the breakout area. It might be ready for a nice move and a challenge of the 200sma.


WPT Enterprises, Inc. (Public, NASDAQ:WPTE)
WPTE looks like it may be putting in a reverse head and shoulders type bottom here. Although the left shoulder is the same depth as the head, the psychology here is the same. It already cleared the downtrend and is refusing to drop lower then halfway down the previous base.


VAALCO Energy, Inc. (Public, NYSE:EGY)
Although EGY is looking a little weak, I can't ignore how buying the 200sma has been rewarded here recently. If my pull back a few more days, but it could bounce right here after the narrow range candle.


Cogent, Inc. (Public, NASDAQ:COGT)
COGT looks like it is gonna squeeze some shorts to me. There was a climactic gap down which was reversed the next day. It has filled the gap and shorts may be getting nervous. I would be.


eFuture Information Technology Inc. (Public, NASDAQ:EFUT)
EFUT has refused to give up it's post IPO gains and is consolidating in a bull flag. This is a tough one to trade, but it can really move.

Good Luck,

DT