Dow Again in Driver’s Seat

They turned the leader board upside down on us yesterday. The Dow finished
up 79.08 with the following six stocks accounting for 72 of those points: Chevron (CHV),
Exxon (XON), DuPont (DD), Minnesota Mining (MMM), Sears (S), and Union Carbide

The techs, drugs, and specialty retailers took the day off. The oil and oil service stocks
have come to life
for the third time in recent weeks. If it’s for real this time, and they start to trend, we’ll
get many
entry opportunities going forward. Keep trading “what is” with both eyes looking behind for
the “air pocket bear.”

Target Stocks Of The Day  Wal-Mart [WMT>WMT] and America
Online [AOL>AOL] are two stocks with excellent patterns near highs
that look like they want to trade at par (100).

Continuation patterns near recent highs that look good if you get entry include Abercrombie
& Fitch [ANF>ANF], American International Group [AIG>AIG],
McDonalds [MCD>MCD], Dell [DELL>DELL], Merck [MRK>MRK], and United Technologies [UTX>UTX].

you bottom fishers, Phillip Morris
[MO>MO] looks interesting as a possible position play with the volume increase over the past
two days.

Editor’s note: If you want to learn more about Kevin Haggerty’s trading strategies, click
on the link below to go to his new series of tutorial articles.