Did I Miss Anything?

• August 13, 2001
• Dave Floyd

Despite
being away for vacation, it appears as though I did not miss a whole
lot, as volume and range remained light. The one negative was the futures giving
up some of the hard won gains from the end of July.
Historically, we should expect just another three weeks of this monotony
as post-Labor Day trading tends to be much better.

Given that I do not have a
reference point to base some current observations, I will simply offer some
information on potential situations that may develop during today’s session. I
will make a point to be in TradersWire this morning as trading gets
underway. Tomorrow I will get back to observations and commentary that gets back
to the "micro" time frame that I trade on.

Key Technical Numbers:

* These numbers have been
lows set two or three times throughout July and August. These numbers will be
very critical intraday and should offer some great trading opportunities.

The daily charts (below) of
both the S&P and Nasdaq futures indicate a potential reversal to the
downside as indicated by the MACD.  However, this same scenario presented
itself back on July 23rd, only to watch the futures rally back hard off the
re-test of the previous low in July.

Longer-Term
Stocks:

An
update on a couple of stocks I mentioned a few weeks back. For those of you who
went ahead and bought Doral Financial Corp
(
DORL |
Quote |
Chart |
News |
PowerRating), the daily chart
still looks good despite the weakening market. National City
(
NCC |
Quote |
Chart |
News |
PowerRating)
has started to lose ground. I would have a stop loss in at 31.60

Thought For The Week:

"To
be a money master, you must first be a self-master."
J.P. Morgan

As always, feel free to send me
your comments and questions.

Dave