Thursday, December 27, 2007

Quick Note

The market remains weak, but so far it is still showing some resilience under the surface and overall volume is not heavy (selling pressure not serious). I am sitting on hands so far.

SLT seems affected by the Pakistani news today and I will be letting this name go at the close if <24.80.

TNH breakout is still in effect. I'll be holding the increased position for now, as long as it remains >140; I may increase further if the market manages to rally in the final hour.

I will sell FWLT at the close today if that one is trading 155.60 or lower.

JASO bounced off of the 10-day (71.43) and looks live again. I lightened up on strength there yesterday, but would consider adding it right back for a trade if the market re-firms here or tomorrow.

BIDU is poised for a potential breakout.

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