Tuesday, August 08, 2006

Big Picture Thoughts and FOMC Trades

Watch for names that rallied on decling volume
Indexes appraching resitance level from July highs
Short-term momentum indicators remain overbought.Despite postive indcation from the weekly momentum, not convicend on the sustainablity of the run.

FOMC: Trading Ideas:

Long QQQQ around 2pm/ Short RKH at 3-3:30pm.

Nasdaq too beaten up/ Banks extended : Pair Trade.

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