Three Ideas For The Second Half
The oversold conditions from yesterday are being
rectified today, as the market disregarded
weaker-than-expected February retail sales data and the weekly initial claims
report. The bulls’ case was further validated by European markets up and a
stronger dollar. Further, CNN reported that negotiations were already under way
for the surrender of some Iraqi units.Â
Deluxe Check Printing today lowered their
guidance by 10%, and after gapping down, the stock has rallied to its .618
intraday range, and looks overbought.
The Semiconductor HOLDRs are approaching a
significant short-term swing point, as this 60-minute chart shows.
Tyco cut its ’03 estimates and the stock has
trading down today, currently near its intraday lows, and already making a
triple bottom. If the stock breaks this level the fourth time, look out below.
Have a good afternoon,