[Weekend Summary]
Dear Member:
After descending from mid-May, it looks as though the markets may have turned the corner back up. The Dow 30 Industrials, Nasdaq and SP-500 each had follow through days yesterday when they were up on very strong volume. I am looking forward to next week because I think there may be some very attractive bullish trades available. I didn't do much today since we are entering what is essentially a 4 day holiday and the market could be a little more unpredicatble than usual with the annual rebalancing of the Russell indexes. As the day unfolded, the Dow, Naz and SP-500 were all down slightly, but on much lesser volume than yesterday.
Emcore (EMKR) and EuroZinc Mining (EZM) have both looked fairly strong since lows on June 13th. EZM stopped at a little resistance today, and looks like it could run another 60 cents to the next resistance if it breaks through. Next resistance for EMKR looks to be a buck and a half higher.
Memry (MRY) tested a support and then bounced up. Denny's (DENN) is now off a double bottom and finally looks like it could move Stemcells (STEM) is basing. Mindspeed (MSPD) looked especially strong this morning but even on high volume couldn't hold all its gains though it did manage to close up.
Commontouch (CTCH) is gone unless it bounces by Wednesday of next week. The market has abbreviated hours on Monday.
Have a safe and enjoyable 4th of July holiday. Thank you for subscribing.
Bill
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