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.

Charts from Telechart2007, Courtesy of Worden Brothers, Inc.

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