|
|
stock watch, buy stock
[Weekend Summary]
Dear Member:
This short week saw the major averages gain back some ground, but in each case, they closed out the week without any clear breakthrough of important resistance levels. The Nasdaq Composite showed some strength, but not enough to conquer the resistance around 2534. The Dow and S&P 500 also each came to rest while still dealing with resistances around 12,750 and 1400 respectively. Until those levels are broken decisively,we are still just looking at a bullish retracement in a longer term bearish move.
I entered a position in Aehr Test Systems (AEHR) this week as it maintained an uptrend with positive DMI and a bounce up off the weekly as well as the daily trend. This one still looks fine, but I will watch it carefully as it was down a little on Friday on fairly high volume -- always a reason for caution. So far, though, it has remained faithful to and above the 40 day exponential moving average and earnings are not due until mid-July. The only analyst covering the stock rates it a strong buy for whatever that may be worth.
Blackrock Sr Hi Inc Fd (ARK) slid sideways this week, but continues its job as an income producer. City Telecom HK (CTEL)came all the way back to the uptrend line this week, but so far the trend line has held and the stock is still in an uptrend.
Introgen (INGN) dropped after a correction in what seemed to be a positive press release. This whole play is and has been news dependent and awaits final testing results.
I hope you have a great weekend.
Bill
|
Home |
Subscribe |
All Rights Reserved |
Privacy Policy |
Advertising |
Contact Us |
Terms of Use |
Disclaimer |
Links
|
stock watch
buy stock
|
