Wednesday, August 30, 2006


A fair to good day. I dropped PALM because good news caused the bottom to fall out of the stock and I decided that there was no interest from an institutional standpoint and therefore no appreciation for me. I'm probably wrong but true to my nature I won't look back nor will I weep if it rockets tomorrow.

Held INTC again overnight as I still believe tech is the place to be and what better place than the Grand Dame of the chip makers?

All of the sisters finished with a red candle but the Q's were weak even though the DIA and the SPY were strong. I think this reflects the fact that the week is ending and most if not all of the trading will be completed by noon tomorrow.

The up/down ratio sits at 65% which is a negative factor, the VIX remains neutral and the new 20 day high vs 20 day low numbers are 1106 to 171 which is awful if you are a bull looking for something to buy.

I took small positions in BEAS, CBG and NITE today and made small money in all of them. Better than a loss.

Targets for tomorrow include DHI, PSPT, BEAS, JNPR, INTC, EBAY, AMAT, GLW, and RMBS. One or more of these will be purchased if a set up presents. Otherwise I will work the gap up/gap down lists and my permanant lists and see what obtains.

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