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morning comment for Oct. 21, 2004

 
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Thu Oct 21, 2004 9:53 am    Post subject: morning comment for Oct. 21, 2004 Reply with quote

Good Morning, Oct. 21, 2004 10:40 EST

The Nas is still holding up well and the DOW would be trading
flat other than the lower earning from AIG, the S&P
confirms the flat trading so far today. The NAS is leading the
buying for the past few days, ther techs are coming out with
decent earnings.
The shipping stocks have been performing well for the past few
weeks, had a pullback and now moving back up, forming a definite
J-Hook pattern. When the shipping companies are doing well, that
usually means the underlying economy is doing better.

CL should be bought here after the very clear kicker signal of
yesterday. look for a test of the $50.00 area.

LSS can be bougfht on the morning strength, it should have a
rebound after the series of 4 doji's in the oversold area.




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