Longer term charts provide valuable perspective on the state of Large Cap Technology. Areas of interest : DELL, IBM, QCOM, and YHOO. Charts of these names demonstrate a consistent behavior of oversold patterns.
Since technology is an emerging sector, even a market correction should not amplify the risk on these names.
Financials: Continuing on a negative bias in the sector, Banks remain area of concern. Examples include : WB, WFC and BK. Other areas in financials don't present definitive messages. Taking an early interest in SLM and MMC as potential longs.
In Basic Materials, DD, DOW, AA, NEM. Oversold and offer attractive timely entry.
These extremes are rather appealing in Technology and Materials.
Friday, November 03, 2006
Wednesday, November 01, 2006
Continue to favor gold here - very glad the commodity is working along w/ GG - a personal favorite name.
Election noise might cause turbulence but I do like SLM on the long side.
Few ideas to consider:
Banks : PNC - long at attractive levels, Short CMA closer to 200 day, with weak momentumCOF: short failed resistance at 80 short closer to 77.SLM: holding $48 attractive bottoming level.Staples: CBP - attractive entry point for an investable idea TSN: closer to $14 worth a look.Healthcare: CAH at 64. SEPR and IMCL - extreme levels opening up long opportunities.Consumer: DG, FL -long at these levels, HD - part of home related overdone extreme for late year rally.Media: An emerging theme w/ following names appearing to turn: gmst, emms, siri, xmsrTechnology: stx, brcm, altr, adi mxim, mu mrvl, cien, tlab, wdc, and elnk.Short: perIndustrials: swft, yrcw,Bm: aa- of course additional gold on pullbacks.
Election noise might cause turbulence but I do like SLM on the long side.
Few ideas to consider:
Banks : PNC - long at attractive levels, Short CMA closer to 200 day, with weak momentumCOF: short failed resistance at 80 short closer to 77.SLM: holding $48 attractive bottoming level.Staples: CBP - attractive entry point for an investable idea TSN: closer to $14 worth a look.Healthcare: CAH at 64. SEPR and IMCL - extreme levels opening up long opportunities.Consumer: DG, FL -long at these levels, HD - part of home related overdone extreme for late year rally.Media: An emerging theme w/ following names appearing to turn: gmst, emms, siri, xmsrTechnology: stx, brcm, altr, adi mxim, mu mrvl, cien, tlab, wdc, and elnk.Short: perIndustrials: swft, yrcw,Bm: aa- of course additional gold on pullbacks.
Subscribe to:
Posts (Atom)