Sunday, August 15, 2010


This weeks action put a damper on recent rally hopes. We lost two of the leading groups, which can never be considered a good sign. Energy and chips acted softly for the week. However lets give the fledgling rally the benefit of the doubt. A small one at that. Stocks that can be bought include:

SWKS @17
NTAP @35
CRM @94
STRI @20.50
INTU @37
EXPD @39
CHRW @63
DE @65
BWA @42

The consumer stocks continue to look real weak. Try to short into strength such names as JCG, BIG, CAKE, ARO, JWN, DBRN.

Must be many out there making dinner reservations according to the relative strength of OPEN.

Semis probably can be shorted into strength as well too. Charts looking weak include BRCM, XLNX, CREE, BRCM. My AVGO got hit this week on a secondary offering announcement. Only good thing is it seems to have found support at the all important 200 day MA.

Good luck and keep losses minimal.

The author owns positions in FCX, AVGO, AMT

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