The Song Remains The Same
Â
On Tuesday, the Nasdaq started firmer, but began
to chop around in pre-Fed trading. Then, after a knee-jerk lower then
higher, it sold off to finish below its open.
Even with today’s intraday reversal, it still
looks constructive — flag-like in appearance.
Â
Once again, the S&PÂ underperformed.Â
Â
So what do we do? The
song pretty much remains the same. The Nasdaq remains constructive,
while the S&P tends to languish. And once again, as I look to the
database, I see many stocks set up as pullbacks. These stocks look
poised to rally as soon as the market gives
them the OK. Therefore, continue to look to play the long side,
but, as always, wait for entries.
Looking to potential
setups, PRI Automation (PRIA),
in the strong semis, looks like it has the potential to rally out of a
pullback.
Â
S1 Corp. (SONE),
mentioned Monday night and in the strong Internet sector, still
looks like it has the potential to rally out of a first pullback/Trend
Knockout.Â
Best of luck with
your trading on Wednesday!Â
Dave Landry
P.S. Reminder: Protective stops on
every trade!
“…….Dave,
I can’t believe I sent you an e-mail and forgot to tell you WHAT A
GREAT BOOK you wrote! I must have been one of the first to buy it. It
certainly seems that all your “shameless promotion” paid off
as I’m sure it’s a best seller by now.
All the best,…”
Gary P.
No risk,
30-day, money back guarantee.