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stock trader, stock market today
[Weekend Summary]
Dear Member:
The bear keeps trudging forward. The major markets were down 4 of the last 5 days. Today, the Dow Industrials, Nasdaq, and SP-500 were all down. Oh, yeah, and it's August, too. August and September often fulfill expectations that they are bearish months so overall things aren't too exciting for the bulls. Geopolitical events and threats continue to cause concern and so far the market hasn't begun to climb the proverbial "wall of worry." Several of the Option Trader trades are doing well as a result of the general bearishness, but good bullish trades for Trend Trader and $10 and Under are hard to find.
In this market climate, there a few good things happening and some bad as well for $10 and Under. EuroZinc Mining (EZM) continues to climb the uptrend line and remains profitable. Commontouch Software (CTCH) broke through the downtrend meaning at least for now that the stock is no longer in a downtrend. Home Solutions (HSOA) which had been drifting jumped 10.5% today (Friday).
On the downside, Stemcells (STEM) has broken weekly support and will have to be sold unless it really pops early Monday. Emcore (EMKR) is flirting with the support line and unless it can move across and up, I'm going to take a loss there as well.
It appears as though Mindspeed (MSPD) may have touched bottom and could reverse. Denny's (DENN)has reached a significant support dating back to 2004. There are some slight indications that the stock may now be turning.
Enjoy your weekend.
Bill
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