Thursday, July 13, 2006

Watch List - ENER, FFIV

ENER is setting up for a technical bounce and perhaps a double bottom reversal. Buy on a break of today's high.

FFIV is forming a bearish flag and all of the MAs are converging over head to push price down. The MACD has just crossed over so we want to short below $47.00. $45.00 is a pivot point so it will act as resistance and the stock may bounce depending on how oversold the markets are at that point. Near-term target is $42.50.

A lot of semi stocks were strong despite the afternoon's big fade and I noticed a lot of potential morning star patterns forming so keep that in mind during tomorrow's session. ALTR, AMAT, CYMI, and INTC to name a few.

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