September 08, 2004

Yesterday's notes

Yesterday was an important day to study the volume advance charts because yesterday is when the big money players came back from vacation to put their money somewhere where it will be treated well. We want to follow their lead so ours will be treated well also.

Damn, TZOO. God damn. These are the kinds of stocks like TASR, that I noted when they first started breaking out and then I just watch and watch go up and up, but I never buy. It broke through $50 today - on its way to $100? I will only buy it if it is reversing back up from its trendline - but it is miles away from its trendline now.
AIRT went nuts, too. This one might be good to buy now. It looks like it reversed off of its trendline.
MAD actually looks really good. The sector is strong, too. It also has low float and large insider ownership. I just don't like its long term chart with all of the overhead resistance. But I bet it will continue up from here.
The QQQ is facing resistance at its 50dma and the $34-35 area, just as expected. I now expect it to make a clean drop below $34 sometime this week or so. Any significant trading above $35 and we may have to reconsider our stance.
Because of the destruction in Florida, home construction and building supply stocks like TOUS DEVC and HBP look good.
DECK makes its move - someone with money who just came back from vacation sees potential here.
Archipelago Holdings is going straight up since IPO.

I saw Garden State this weekend. It was pretty good, but it was also a little too pretentious for my taste. Plus, I think it was a little too over dramatic with the romance. However, I think it is worth seeing for its originality.
I rented the Five Deadly Venoms from the library - I am eager to see this one. My japanese and karate classes begin today.

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