Wednesday, April 23, 2008

Some Charts to Watch, But Not Buy Yet

As the title of this post states, I don't think I would buy any of these right now. I am showing them to show you some of the nicer charts I am seeing right now in the market and ones that I am watching and looking for lower-risk buy points. Many of these stocks need more rest. The market has to let that happen first, and I don't know if it will or not. We shall see. As boring and redundant as this is to say, this is not a great time to go long or go short. It is a good time to sit on your hands or manage current positions. That doesn't me you should stop working - that's what I am trying to do by doing my scans each night to see if charts are showing up. These are most of the charts I am watching because I do want to be ready in case the market decides it is ready to move higher and these charts show they are also ready to move higher. I wish I had something new to tell you but that's where we are at in this market. Best of luck tomorrow.

DAR, DGLYBG, MATK
CCK, BOKF
GU, MEA
PLLL, OME
Charts from Telechart2007, Courtesy of Worden Brothers, Inc.


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