Couple of picks

Posted by downtowntrader | 8/27/2008 09:34:00 PM | 0 comments »

I was completely away from the markets Monday and Tuesday, not even reviewing after market. I was then only able to pay attention for a couple of hours today, so to say I and probably a little disconnected from the markets is an understatement. I hate to offer analysis or advice when I am not fully involved, so I won't be posting any charts again tonight. I do have a couple of picks that are interesting, but I prefer to get a feel for the markets tomorrow before committing to any positions. The two that I have my eye on are MOS short and SOHU long. I am quite confident that MOS will be lower this year, but I'm not sure how high this retrace will go. SOHU on the other hand is not as clear, but the potential is there for a strong move higher.

Also keep in mind that next week should bring the return of "normal" volume levels to the markets. Late summer is always a tricky time to trade, and I for one will be happy after next Monday. We may get a strong trending move, one way or the other beginning next week.

Good Trading,