Not a stellar month in the markets more of a trading range with the bears taking a much firmer stand. This week based on Fridays action if I were a betting person I would have to be on the bulls side. I do see a number of bull flags forming on some charts and also double bottoms which lead me to this conclusion.
I am waiting till pre market tomorrow to make my call on a stock which I think has some upside from here. Since it is an expensive stock I will be looking to play the options if they are reasonably priced.
If the bulls make a stand here this week we might see a significant more since we have been in a tight trading range with extremely low ADX readings.
Good Luck this week
Sunday, February 24, 2008
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