Flubber
Today’s Watchlist:Â
(
CMTN |
Quote |
Chart |
News |
PowerRating),
(
SEBL |
Quote |
Chart |
News |
PowerRating),
(
CDN |
Quote |
Chart |
News |
PowerRating)
Copper Mountain
(
CMTN |
Quote |
Chart |
News |
PowerRating)
has shown almost no signs of strength since setting its mid-July highs. Besides
the two-day rally, it has been in a steady declining pattern. It is now poised
for another short opportunity based on a bigger-picture setup. It tested its
original breakout level for the first time in months on Wednesday. Unlike the
broader tech group, it failed to rally back. Watch for a short-side opportunity
near 42.
Siebel Systems
(
SEBL |
Quote |
Chart |
News |
PowerRating), on the other hand, did rebound with
the broader market. After gapping lower in the morning on Tuesday, it quickly
turned around after hitting a key trendline. It rallied back into a near-term
resistance level. Aggressive traders may want to watch for a move above
Tuesday intraday high, while more conservative traders should await a move above
the resistance area near 100. This level has been tested several times, and with
some strength, may quickly be conquered. In the bigger picture, SEBL may have
formed a nice basing pattern, offering a good long term opportunity. Of course,
with the Nasdaq still stuck below 4290, the broader market may remain a bit
shaky.
Cadence Design
(
CDN |
Quote |
Chart |
News |
PowerRating) has shown some strength after forming a
W-bottom pattern and a high-level saucer. On Tuesday it closed above a
resistance area which was tested on numerous prior occasions. There may be a bit
more trouble just under 25, which was the last major high. Set your alerts near
25 and watch for breakout.
Until later,Â