July 17th 2009
Today in the Stock Market
| Dear Fellow Trader, All major index were green yesterday and it was done on increased volume compared to wednesday for each of them, which is very bullish. The market stays within that tight up channel, possibly the market will grind it’s way up to the resistance level around 34…(Horizontal Blue Line). In the large cap section i will give you other ideas….
Now for the Microcap, a few things were worth noticing. First PGYC had an important news concerning the filing of disclosure documents. I think it’s a positive to see that the company is providing whatever they can to make sure we get as much transparence as possible. In any case PGYC charts look just great at this level, but i am looking for some action soon…
Also CBAI had it’s first day in a long time where it had a Close above the previous day’s high. Which could be a buy signal for the more aggressive traders.
Another one to follow is CHID, as a move might have just started, let’s watch it and let’s not get too aggressive here, as a pullback is needed for me.
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| Featured HOT Stock JPM finally moved, but nothing too impressive, as most stocks are starting to be tired a bit, some rest is needed (sideways or pullback to resume this uptrend in full force) Now, one stock that moved well intraday yesterday and that was fun to trade was FRPT, it broke past the point i mentioned monday, with volume. Look at the increase in volume, this is good.
Use a 60 Min charts to find another entry on this FRPT. 
BRCM is like all the SEMI and they have followed the financials in this Rallye which confirm even more the substance behind what we since March.
Have a great Trading Day ! |
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