5 Stocks I Am Watching

 

Where the heck is the volume? I must tell you that if I had seen powerful
accumulation, I would be buying much more. I am seeing individual names with
great charts and in fact, seeing a bunch of set-ups and seeing a bunch of
breakouts. But…I can’t help but have that nagging feeling that this “market”
can get in big trouble again if volume does not show up. 

 

That said, here is what I am going to be watching:

 

The 1108 and 1110 area on the S&P 500.

 

The 10180 and 10240 area on the DOW.

 

These areas represent the 50 and 200 day averages respectively. The 50 day
average is now declining. A move above these levels will be vital to sustain any
rally of more than short-term duration.

 

I am going to be watching names like QCOM,SYMC,HUG,LNR,ACF,BAC. These are
all recent breakouts. If they stick, the market has a better chance to stick. As
I have said, it is OK to probe. But just in case, keep a low tolerance right
now. Until I see the big boys really getting into the game, this rally remains
suspect.

 

In tomorrow’s report: handicapping the election by watching the
markets.

 

Please tune into my radio show ” Investor’s Edge” on Wednesday August 25.
My very special guest will be Speaker of the House, Dennis Hastert. You can
access it at www.garyk.com.