Expect continued market volatility as the rest of earnings and FOMC meeting 2.5 weeks from now
Near-term momentum becoming oversold creating a high-risk trading opportunity of higher beta names—(with a cautious approach to news sensitive names).
OSX , HUI and XBD- areas to explore.
Shelter for uncertainty: Attempt to accumulate defensive leadership stocks on any near-term pullbacks.
AES, AYE, TXU, OKE, PPL, FE, CVS, KR, SWY, CBP, AZN, MRK, SGP, BMY, INTU, CMI and UTX--- few names to watch for on pullbacks.
Looking beyond two weeks: Position out of speculative trading names and take a defensive / cash stance on portfolio especially ahead of FOMC meeting.
Tuesday, July 25, 2006
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