Market participants await April 30 FOMC meeting minutes, so we could hang around the 1410 area until then. As in the video last night i showed we are right on the lower trend line on the rising wedge pattern. I think we eventually break down out of this pattern, but we are set up for a bounce. Watch 1410-1400 for lots of volatility.
Looking for a bounce and would turn more bullish if we get above 1420
Futures suggest a muted start to the trading day. Time Warner (TWX) is up more than 2% in premarket trading after confirming it has agreed with Time Warner Cable (TWC) to a complete legal and structural separation of the two companies.
Here is what is on my watch list for today
XIDE continued move
AAPL pullback to 20dma
GE triple bottom
TNH Looks good
QCOM on pullback
DRQ nice chart 62.05 Trigger
USU
IPI
Good Morning Todays Trade
Wednesday, May 21, 2008
Posted by DayTrader RockStar at 8:45 AM
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1 comments:
AAPL has been good to for the last month, when it was down to 129/share i end up buying 100 shares... and now it sitting pretty around 180. I just waiting on there news with the 3G iphone and iphone firmware update where would make it go higher then 200
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