The latest from the
IndexHunter session 05/26/2009
No need to look through 300 stocks, look
at the groups to find the strength first.
CME -
Weekly is stronger than
it was, leading more upside into it.
CYC - Weekly strong and still leading the price, based on
indicator high, price should be at 650. Only requirement for buying call
options would be to wait for the daily to stop moving lower and an hourly
pattern to act as a catalyst for the daily. Look for cyclical stocks, like
CAT, indicator is still ahead of the price, if daily starts to stabilize
then have a good solid re-entry point. ETN, looks better than CAT,
monitor hourly for entry. CMI, not nearly as good as CAT and ETN.
MGM - not quite the characteristics we want on any of the time
periods.
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