Wednesday, August 15, 2007
Daily
Stock Picks
Bottoming
-
August 14 for August 15:
ENZN FACE GLGC IPII
(Stocks
making a 52 WK low but closing higher than they opened)
Oversold Stocks -
August 14 for August 15:
CALM PSEM
(Stocks
closing higher than they opened, crossing up through their 25 Stochastic level,
and on 150% + greater than average 6 month volume)
Overreaction (Potential Bullish Bounce) -
August 14 for August 15:
EEEI ETEL FACE GORX HUSA ICOG IPII JMBA NTII NXXI SHRP SVN TRMM ZANE
Stocks
making a 52 WK low and moving down 10% or more in one day
More... Stock Picks Page #1
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Technical Indicators
Keltner Channels
Keltner Channels are a volatility-based indicator
that uses a pair of values placed as an "envelope" around a data
field. The values are calculated by taking the Exponential Moving Average of
the data for a given period and adding or subtracting twice the average true
range from the moving average.
Envelope theory states that prices will most likely fall within the boundaries
of the envelope. If prices drift outside their envelope this may signify a
trading opportunity.
Keltner Channels are similar to Bollinger Bands and share many of their
characteristics but represent volatility using high and low, rather than the
standard deviation of the one field.
Read More...
Trading Education
Tutorial
Courtesy of
Nirvana Systems
Volatility
Well Behaved Stocks Reap Rewards
Some stocks move multiple points and multiple
directions in one trading session. Other stocks are more methodical in their
day-to-day movement. Which type of stock is more attractive to you as an
investor?
Read More...
NASDAQ Chart of the
Day
Courtesy
of Nirvana Systems
WBSN has turned down away from a
clear upper trend line and has filled a bearish exhaustion gap, which indicates
more weakness ahead. Look for more selling beneath 22.40, especially if 19.25
is crossed.
Daily Trading Signals
NYSE Chart of the Day
Courtesy
of Nirvana Systems
MMR has formed a tight
consolidation at the lows after dropping from the July highs. This
consolidation also happens to be the right shoulder of a developing
head-and-shoulders pattern, which is typically a bearish pattern. Look for
weakness through 13.60 for signs of key selling.
Daily Trading Signals
Daily Market Commentary
Courtesy of
Nirvana Systems
Updated Tuesday, 8/14 for Wednesday's market.
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Key DOW Levels for 8/15
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UP
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Above 13,400
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DN
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Below 12,975
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Steady Decline...
- Dow trades slowly lower throughout session,
breaks critical support. The Daily Chart says a whole lot about the direction
we could be headed in the Dow. The Dow broke through the neck line of the large
head-and-shoulders pattern at 13,150 and actually held beneath this level into
the Close, which is the first time this has occurred around this zone. This is
a bearish break that could result in a decline of about 600 points from our
current level. Watch for movement below 13,000 for confirmation.
- The NASDAQ and S&P each pushed steadily lower throughout the day and are
now testing key levels of support. These zones could spark the next key move in
the market.
Summary
The Dow ended the day with a steady decline and is now holding beneath the neck
line of the major H&S, which is highly bearish. Watch this level for signs
that more selling could occur.
Read More...
