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Dear Fellow Traders

A rally in the afternoon helped stop what could have been another strong sell-off for the Dow Jones Industrial Average. The index opened at 10,366 and dropped more than 100 points in the first hour of trading. For the rest of the morning the Dow hovered around 10,200, hitting a low of 10,185. A rally at 2 p.m. helped push the index higher, to close at 10,321. The rally could have been sparked because the index broke below its 20-day moving average at 10,196, which could have triggered buy signals. According to some of the articles I read, further concerns over Greece’s debt problems and weaker than expected U.S. Jobless claims helped increase investor fears.

It was a mixed day for the Tech sector but the improved general market sentiment helped the NASDAQ Composite regain most of its lost territory. QQQQ, the ETF of the NASDAQ Composite gapped significantly lower, opening at $44.11. That is 50 cents from Wednesday’s closing price. The ETF hit a low of $43.83 before it managed its rally higher. Strong investor buying helped push QQQQ to a high of $44.70 but when the dust settled it closed just below the previous closing price at $44.60.

Gold prices appear to be finding some support and managed to close back in its previous trading range. GLD, the most popular gold ETF opened the day at $106.70 and early in the morning hit a low of $106.60. However I have heard a lot of investors are buying gold whennever it dips so this price probably triggered a buy signal. Investors were able to drive GLD to an intra-day high of 108.70. By the end of the day the ETF settled back down slightly to close at $108.31.

One again we are seeing some major gains in WDRP. From the closing price on Feb. 19 to Thursday’s close the stock has made a gain of over 233%. That is just amazing. I have been waiting to see if the stock would break through resistance at $0.03 and I was not disappointed. On Thursday the stock opened at $0.025 and dropped to a low of $0.0241 before the momentum kicked in. Investors were able to drive the price to a high of $0.0395 and manage most of those gains as WDRP closed at $0.0345. What is very exciting is the fact that volume remains strong. Thursday’s was the stock’s second biggest day with 63.3 million shares traded.

CBBV has made some very good gains and we are seeing some of the volatility dying down so we could be in for another move higher in the next few sessions. The stock opened at $0.17 and some pressure in the morning caused the stock to drop to a low of $0.16. As we can see from the chart, CBBV is finding some support in that area. The stock managed to bounce back and hit a high of $0.21. There appears to be some resistance at $0.20 which is where the stock closed at. A break of $0.20 would probably create a strong buy signal for investors who are waiting for a confirmed move in this stock.

SNWT managed to hold on to some of its gains from Wednesday, despite ending Thursday in negative territory. The stock opened at $0.146 within the first hour of trading it hit it’s intra-day low of $0.13. This created a good buying opportunity, especially for any investors who missed the previous entry point. The stock managed to jump off its low and hit a high of $0.149. Some of the volatility died down in the afternoon and the stock managed to close at $0.14. Volume is slightly lower than the previous sessions but remains relatively strong with 424,000 shares traded on Thursday.

We are seeing some interesting consolidation in BHWX. From the pennant pattern the chart is forming, the stock could be ready to make another move higher very shortly. It is interesting that today’s price action is right between the 50-day moving average at $0.65, which was the intra-day high and the 20-day moving average of $0.62, which was the closing price.

HSCO is becoming a promising trade. Volume is rising and it is has made consistent gains in the last three sessions. Low volume has plagued this stock but on Thursday it traded almost 400,000 shares. We can see that strong volume has helped control some of the volatility. The stock opened at $1.00, hit a low of $0.96, a high of $1.05 and managed to close at 1.02.

AGCZ appears to be forming some support at $0.10 however low volume continues to plague this stock. 83,500 shares were traded on Thursday. The stock opened at its low of the day at $0.10 and closed at its high of $0.13. This is a great time to load up on this one…Getting ready for the next move of GOLD…

Finally, I have another stock to add to our watch list. MBTG has been on a strong rally for most of the month and the volume has been increasing constantly, which is something I like to see. On Wednesday the stock traded over 6 million shares. Thursday was an interesting day for the stock. It gapped significantly lower from the previous close, opening at $0.014 but it managed to close the gap and close at $0.017. I want to wait for the stock to pull back before I look at an entry point and I want to make sure the volume remains strong. The last thing I want to do is get into a position that I can’t get out of.

Have a Great Trading Day!