Wednesday, April 23, 2008

Stock Market Sectors Watch For April 24' 08

DJ30 - looks like it will use MSFT Earning Release ( Tomorrow After Market Close ) as an excuse to move slightly up, as for "during the day" it'll most likely will "re-test" 12640 area.
DJ Trans is moving nicely within ascending price channel, I guess it'll drop some in the morning ( where I will close my transports related short positions - had it for 2 days now) and will leave transports alone for a while.
Gold/Silver will be down tomorrow, so I assume "Mighty Dollar" ( what left of it anyways ) - will be slightly up.
NASDAQ - same story as DJ30 - waiting for Mr. Softy
Hmm..S&P500 - after been whacked today - waiting, begging, Mr. Softy, please...boring

I can go on, but in short - I will be easing up on a lot of positions tomorrow ( except for "concept" Long DUG/Short OIH - Short Oil in plain English)

Ag Chemicals REALLY moved down today - here what I posted on Member Site Yesterday:

Tuesday, April 22, 2008

Out of "Aggs"

Today closed what was left from Ag Chemicals Positions(long), looks like most are due for at least consolidation or may be even short setups. Plus, slew of ag IPOs flowing into the market - always a very reliable signal that "New Big Thing" is about to end. Also ( I am taking a very high risk here ) - completed building DUG long and OIH long puts positions."