Stock Contest Update

The markets barely moved today although there were some decent moves in watchlist stocks like grow, dakt, and rvbd. There are some conflicting signals as most of the indices look like they will pullback on intraday charts, but still looking ok for other timeframes.

Here are a couple charts showing the Q's with conflicting picture.


NASDAQ 100 Trust Shares (ETF) (Public, NASDAQ:QQQQ)
The hourly chart looks pretty sloppy with the Q's in a congestion zone. It looks like it may head a little lower here.



The daily chart shows the Q's coming off oversold status and with the MACD starting to crossover to the positive side. I have to give the edge to the longer term charts.
Here are a few more charts to watch.

Liberty Media Corporation (Interactive) (Public, NASDAQ:LINTA)
LINTA already reported earnings and may be close to clearing this flag like pattern. It may come back to tag the 20sma first, so I will be waiting for the move to present itself.


NovAtel Inc. (Public, NASDAQ:NGPS)
NGPS trades very thin, so it may not be for most, but it is looking decent here. It broke this head and shoulders continuation pattern and is drifting back to converging support. It may come back a little more, but I am watching it closely.


Amazon.com, Inc. (Public, NASDAQ:AMZN)
AMZN could go either way here, but it looks like it will move higher right now. I would probably pass if it breaks lower as there is good support in the gap below.


On2 Technologies, Inc. (Public, AMEX:ONT)
ONT may be setting up for a head fake here. Busted chart patterns can lead to very profitable trades, so I will be watching to see if it can climb back above the descending trendline from the triangle.

Here is an update to the stock contest I had with some friends of mine. Y is in the lead following ICE's 33% move. MFN is helping a few people out as well. Only LMRA is down more then 10% at this point although OMNI was close to that recently. I'll try to post updates at the end of each month.


Good Luck,


DT