Monday, July 23, 2007

MarketUp or Down

This market is up today. But the stocks I'm watching aren't so hot today.
Telecom and Oil Services should stay strong, but are in fact backing off from highs of the day. Profit taking, of course. But why???? These companies should be hitting even higher highs after news like this; especially in a bullish environment. So I'm cautious.

DD and ADM should be higher. NBR should be strong and it isn't. These are all large cap companies with strong cash flow. These are chemicals, agriculture, and oil plays of undervalued cos. - unfortunately these are just not hedge fund plays.

Real Estate related companies are horrendous today. Will they maintain there weakness?
MTCT was up .48 cents in after hours on Friday and is struggling to be positive today.
UAUA is the only monster in my book. Always up on unexpected days.

Today, I believe we can have a market reversal later in the day. If the market does stay positive I think one should short into tomorrow.

So I am thinking that every week I will post a playbook with stocks entry points. And possible scenarios to watch for. And then tally up profit and losses on the following Monday.

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