Pageviews past week

Friday, January 25, 2008

It was a day that started at the highs and closed at the lows. The Dow lost 171 points on good volume. Advance/declines were negative. Profit taking before the weekend? That's my guess. I will be looking at things to get long here. I think we will chop around and form a bottom. That doesn't mean I will rush in and buy something. But I'll be looking for an oversold condition and take my chances then. Gold was up another 5 bucks but the XAU closed off a third. ABX was up over 1 1/2 on good volume though. It remains a leader. NEM and HL were both up slightly. I may try some HL February calls but I need to check things out over the weekend. I think we are overbought but that doesn't mean we can't stay that way. GE lost a half on good volume. It hasn't acted that good since the initial surge off the lows. Probably won't go there. I'm keeping an eye on INTC and perhaps will try the calls there. It lost 3/4 on heavy volume today. Again , I'll have to check things out over the weekend. Mentally I'm tired from the seminar this week. I need to get back to the normal schedule and that happens next week. There is a lot to catch up on this weekend and I'll go from there.

1 comment:

www.ShareTipsInfo.com Team said...

Dear Visitors,

This blog is really nice and informative. We do think our posting will be highly beneficial for you too. As we know now a days
stock market trading has just became a joke, every third person who don’t even know about the name of exchanges is willing to
do trading due to which in recent past we have seen few shares which are fundamentally very week but had flied high in rally.
But now everyone is trapped in those sort of companies.

Now best strategy is to wait and watch let Nifty close above 5350-5400 for 1-2 days only then strength will come back in market.

We are expecting short covering above these levels.


Till then our approach should be wait and watch trade in less quantity.


Regards
ShareTipsInfo Team