August 22, 2004

Tomorrow's markets

ENSI has a nice long term chart. Short term chart looks good too.
BGY is almost at its trendline - good place to buy or add. I am going to.
OMTL looks good to short
For daytraders, AIRT looks to go up again on Monday - then short the hell out of it once it turns (maybe around $15?).
ULBI went nuts on Friday. But it has to be a good short near its 50-dma or somewhere around there.

I think the markets will stall for a moment here, I don't think QQQ $34 will be broken so easily. I think if it is broken, it will take some time to do so. If it breaks it at all - it shows stength. If it breaks it quickly, it shows more strength. If it bounces and then returns to make a new 52-week low, then $34 will likely be a ceiling for some time.

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