At the beginning of every week I will take a look at the broad market as a whole and discuss what important updates will be happening in the week and if any significant reports/earnings will be coming out.

Then everyday I will try to find a new stock that I feel is poised for a big next couple of days and set price targets, stops, etc.

Wednesday, April 2, 2008

Wednesday Short:

Very light blogging today as I had to drive home for 15 hours yesterday:

My pony today is again my best friend Halliburton:

Short:
HAL

Short Limit: 39.5
Stop Loss: 40.1
Profit Take: 38.71 or close

Also looking at the chart for the Dow Jones obviously after yesterday's huge day the market will probably be down today for the following reasons:

1. It is near the top of the bollinger bands
2. It is nearing the HUGGE resistance at 12,800

If it can pass through the resistance and form a base for a few days then we might be seeing the start of an uptrend but my guess is that we'll be trading sideways.
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