Thursday, September 22, 2005

Rally time

I am calling rally time. We are oversold and the sky hasn't fallen yet. My trades are mainly indices like the QQQ down here. I think this cane misses the major refinery areas and the heavily populated areas so we might catch a break. Thus, being things are crushed, it is a good time to move into some bounce plays. The list is, ISRG QSII SHLD UTHR AMGN etc. Shld is a pure oversold bounce. I have already traded it today and got two. Looks good to 120 above. The others are relative strength leaders that have been down with the market. You almost have to get in now rather than later if Rita isn't as bad as they say being technicals are screaming, "cover and go long". Also, keep and eye on that Chinese medical company Cramer blubbered about, CMED. First day up on that one and being it was a recent new issue, it might follow through.

1 comments:

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