Swat!
I think I finally figured out the real reason that they call
it a “bear” market. When a bear wants to kill, it does
not just swat you one time and end your life painlessly,
rather it mauls you, hour after hour, tearing you apart and
laughing as your scream. Sounds a bit like the market today, does
it not? While it is not in fact the real reason.
Today’s Watchlist:
(
IDPH |
Quote |
Chart |
News |
PowerRating),
(
PHTN |
Quote |
Chart |
News |
PowerRating)
Idec Pharma
(
IDEC |
Quote |
Chart |
News |
PowerRating) has been one of the strongest stocks
of late. Currently trading not far from the high of the day, it
looks poised to go higher. IDPH is near testing its high from
several months ago, which would form a large cup-with-handle
pattern. Set your alerts near the recent 52-week high and watch
for a new closing high. Should this occur, watch
for a continuation move on Wednesday to take out Tuesday’s
intraday high.
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Photon Dynamics
(
PHTN |
Quote |
Chart |
News |
PowerRating), on the short-side, is trading
near its low. It has traced out large inverted cup-with handle
pattern. It is currently poised to take out the low of the bigger-picture
handle, or near-term inverted cup, depending on what time frame
you are looking at. Either way, it is a short setup. Set your
alerts to monitor for a move below the intraday low from nine
days ago. Watch for a breakdown.
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