Tuesday, May 1, 2007

Continuation of bear slaughtering ?

Will today brings another continuation of bear slaughtering ?
It's not likely so, all the signals are pointing toward another pullback today.
However let's not jump before it's sure. We have ISM index number and pending home sales number due at 10.00 AM and after the close we have truck sales number due.

Should a pullback happen, I expect the dow to test around12.890 level during intraday. Judging from the recent rise to 13.162, the dow might retrace near 12.990 instead of 12.890.

The asian market today hints a pullback also, the Hang Seng index are down around 1% while the Nikkei down around 0.7%.

I have a couple of potential plays today, some of them are in the health and electronics sectors. I will post them once I have entered them later in the day.

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1 comment:

lionsault said...

Hi Linda, nice blog you have. Looks like both of us have a common interest.

Bill Chen