Thursday, April 10, 2008

Scans Indicate Very Little Change From Yesterday

The only difference I see in my watchlists after running my scans is that they are smaller on both the long and short side, more so with the shorts. I didn't see many stocks breaking out today on the long side, and although some short candidates look more bullish after today, some remain in a shorting zone. I found only a few new charts to add to the long watchlist, but basically things remain stagnant. Here are a few longs to watch that are new:

Charts from Telechart2007, Courtesy of Worden Brothers, Inc.

If you want to see other charts, please see my posts from this past week. I mentioned that a few charts needed to rest and they are doing that - with a little more work, charts like NGS and OTEX will look very nice as possible longs. On the short side, there are very few charts I would consider unless we break below the 50 day moving averages on the indices. If you have to trade, there appears to be more setups on the long side. Just don't force anything. Good luck.

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