Getting reacquainted with the markets

Posted by downtowntrader | 4/08/2007 10:57:00 PM | 3 comments »

I'm the type of person who feels out of synch after just a day or two of not monitoring the markets intraday. After two weeks of just monitoring my open positions and looking at index charts, I feel like I have no idea of what is coming next. The indices are close to filling gaps, yet look like they could squeeze higher. I am not looking to short as all the indices are over their 50day sma's. Yet, I also don't want to buy too aggressively as they are a little extended from their 20day sma's as well. I'll probably take the next few days to get back in synch with the markets, but I did find a couple decent long setups.

Level 3 Communications, Inc. (Public, NASDAQ:LVLT)
LVLT attempted to breakout a few times and then drifted back to the previous breakout area. It could find support here before attempting another breakout over the high $6 area.

American Science & Engineering, Inc. (Public, NASDAQ:ASEI)
ASEI has been correcting a reversal attempt for the past four months. It may be in the process of setting a higher low which would be a stepping stone to higher highs. I would wait for price to clear the narrow range candles while setting a stop below the same candles.

While I had a great time in France and Spain, I have to say it feels good to be back. Look for a more normal blogging routine moving forward.

Good luck,



  1. Anonymous // 11:52 PM  

    Welcome back Pierre Garcia. Hey...I like that ASEI stock you mentioned. Looks like it is going to 100!!

  2. Rahul // 2:38 AM  

    Welcome back :) Any pix?


  3. downtowntrader // 7:54 AM  

    Thanks guys.

    Rahul, I've been posting a few pics over the last two weeks in the posts below. I should be posting a few more in the coming days.