Thursday, November 27, 2008

GS, OIH, BIDU (28 Nov 2008)

I hope you enjoyed your Thanks Giving holiday!

Friday will be an interesting trading day, it is the end of the month and most fund managers might wanna maintain those gains from the rally. The I kinda look through some stocks which I think have a little more room to run.

GS, OIH is in overbought territory, but that doesn't mean they can't run further....just keep an eye on them.





BIDU still has plenty of room to run IMO, the resistance is at about 178.

The SPY is a simpler chart now, any upwards move will like encounter resistance at 91.73, breaching past this level of resistance will lead us to 94.06. As for the short side, I will be crazy to suggest to you now, but just beware if SPY breaches 84.2.


Strategy:
Daytrade

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