[Weekend Summary]
Dear Member:
Wednesday and Thursday certainly suggested a return to a bullish climb for the markets. Market direction is very important to the movement of individual issues. The modest drops on high volume today doesn't really tell too much since it was option expiration day (as part of triple witching). Early next week should tell the short and, perhaps intermediate term tale. A move up could definitely supply a high number of candidates after the fall from early May.
Most of my positions are down at support levels. EMKR had strong days Wednesday and Thursday and a little retreat at support today. Most of the others (EZM,MSPD,DENN and STEM) had reversal days on Wednesday, a fairly strong up day on Thursday and a retreat to support today. CTCH is running sideways along a support resistance line.
I'm looking for candidates every day, but haven't found any that I believe are strong enough to provide an entry until the markets show some convincing proof of a return to the upside. We may well see evidence of that next week if we can get some follow through from the Wednesday and Thursday movement.
Have a good weekend, and thanks for subscribing.
Bill
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