More of The Same Thing..
Hey ladies and gents,
Despite the excitement of the oversold bounce during the last few days, the market seems to look pretty lost, despite the strong earnings being posted by DXPE, BGC and WIRE. For now, I will keep to my short positions and keep an eye on more longs. My favorite longs reside in the Utility sector.. both electric or gas utility...foods, such as DA, PEP, PBG, COKE, FIZ, etc... Tobacco...such as UST, RAI, MO, GLH, etc. Some other ones I still like are SLXA, TNH, TAG, WRLD, ECL, OKS, OKE, BWP, TTG, CVD, GRB (major potential), CRAY (major potential), BAC, AVA, DGX.
Some to keep a keen eye on include, DXPE, AXE, TRMB, WLSC, CTV, BIDU, WIRE, BGC, LINE, AEPI
posted by Nick M. @ 11:12 AM
1 Comments:
hey one in 6+,
I took a look at the chart and my opinion is...don't pull the buy trigger just yet. Although the amount of money invested in the stock is at a high point, TTM seems to be trapped in a downtrend cycle. Everytime TTM approaches its 50day MA, it seems to bounce back down. Also notice that although earnings were good, they werent good enough since they were below forecasts. Also pay attention to the fact that despite the upday action on friday, TTM was being sold and consequently closed down. It is having trouble breaking out of its downtrend cycle. My advice is, stay on the sidelines until it bottoms out and starts basing before buying in. You will have plenty of opportunities to make TTM when the timing is right. For now, TTM looks like a short in my opinion. Sorry for the long speech, just whatever you choose to do, becareful with the market because its not ready to go up just yet...
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