Monday, November 16, 2009

Not too much to say about today except that I continue to be surprised, that seemingly important technical levels in indexes and stocks are breached and there is in many cases very little action. Focus on the dollar /economy and being at the highs is making for some pretty lackluster volume and trading.

Today at least came with an uptick in volume and some decent action if you were involved early. As a testament to how strong this market is, strong dollar comments by Bernanke and Meredith Whitney saying” she hasn’t been this bearish in a year” was not enough to take the market down.

Small caps (IWM), Transports, (IYT) and Real Estate (IYR) all out performed today on better than average volume which was encouraging.

As always treat every alert with caution, make sure that there is good volume and relative strength or weakenss. Be especially careful with the two short alerts. Shorting support has been damm near impossible recently and these could easily be support buys.

The following alerts could be actionable tomorrow.

cern 81
cnq 70
de 50
gfa 35
ilmn 32 short
pot 106
rht 29
swn 42 short

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