3 replies to this topic

[Cirrus]

ST trade from the long side here. I'll prolly take some off on the BO. The materials and energy sector have been a lot more volatile than the market...frequent swing trading ops. Been looking there for ST longs and looking at consumer, restaurant, and other weak weekly charts for shorts. Still waiting for a correction to reenter en masse but trading the environment I'm given...trying to make a buck or two. I'll also add the DJUSMD is breaking out to new highs (ATHs today). Plenty of action in the JR sector with tons of volatility.

Edited by Cirrus, 23 May 2007 - 10:25 AM.

[hiker]

hi Cirrus, good profits on that trade. hourly FCX has remained on a buy since May 4th. Fast Money last night interviewed CEO. I am staying long FCX until hourly gives a sell. today looks like an overthrow above upper price channel on the daily.

[Cirrus]

BreakOut on the DJUSMD and the XAU acting better. One day doesn't mean much in a market full of fakeouts and stop running. The weekly DJUSMD does look great. I'm guessing that everything in the resource area will get hit during a correction--worse than the market as a whole. My guess is a correction will be based on extreme volatility on the Shanghai.

Edited by Cirrus, 23 May 2007 - 11:25 AM.

[hiker]

most energy and coal stocks also look strong today. I am simply hedging for now...not selling.