S&P Mosh Pit
It’s time for my weekly look at the Nasdaq Composite. For the
second week in a row, we’re seeing some action. After the boring consolidation,
it’s finally started to move again.
When playing the breakouts, remember that many stocks have been
failing. If you’re waiting for continuation moves, consider waiting until the
last hour.
The S&P futures just broke the low of the week.
Today’s Watchlist:
(
MCOM |
Quote |
Chart |
News |
PowerRating),
(
CRA |
Quote |
Chart |
News |
PowerRating),
(
CCU |
Quote |
Chart |
News |
PowerRating),
(
DPAC |
Quote |
Chart |
News |
PowerRating),
(
AMGN |
Quote |
Chart |
News |
PowerRating)
Metricom
(
MCOM |
Quote |
Chart |
News |
PowerRating) is retesting its recent highs. I’m adding MCOM to the
watchlist as we watch for a low-level breakout to provide us with a potential
opportunity.
Celera
(
CRA |
Quote |
Chart |
News |
PowerRating) is moving up today. It took out daily resistance intraday on
Friday, but like many stocks, it’s retraced already. Watch the last hour.
Clear Channel Communications
(
CCU |
Quote |
Chart |
News |
PowerRating) closed outside of the range that it has
been stuck in for the last three weeks on Thursday. On Friday we saw a
continuation move in the morning, but like many techs, it’s pulled back.
Continue to watch it like the other techs which have pulled back from
continuation moves.
Dense-Pac Microsystems
(
DPAC |
Quote |
Chart |
News |
PowerRating) was added to the list when it was in the
uptrending channel and trading near 13. It continues to trend in the channel.
Stick with the plan, look for potential entries on bounces off the walls of the
channel.
Amgen
(
AMGN |
Quote |
Chart |
News |
PowerRating) broke out of a high-level cup pattern on Friday. Watch for a
new closing high followed by a continuation move on Monday.
Until later,Â