Monday, August 22, 2005

Another Trading Day

Market taking a nose dive this afternoon. Thankfully it has bottomed and is now climbing back a little. I am searching among the rubble for an overnight trade now!

Earlier in the day I entered a bit too late into an uptrending PSUN and was stopped out at about the same time the market started declining. TICK was looking too ugly for me to re-enter, so I will instead preserve capital for tomorrow.

Oils could get ugly tomorrow crude bounced off resistance at $67. Should they decline further, energy stocks might take a major nose dive!

KSWS is a possible candidate... RL is another, but retail is too weak right now for me to seriously contemplate that one. TXRH looks good but is too thinly traded. KSWS did not gap today, so that is out also. OVEN is a possibility, but I don't care for that stock (all hype), also no gap.

Once you reject as many as I have today (there were more than the list above), you get the impression that you would be forcing any trades you make, so I am going to stay parked overnight toninght.


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