DJIM stocks
Tuesday, October 10, 2006 at 09:00PM
Demi/ YourPersonalTrader in CPY, IAAC, SYX, TRT

By 10 am we pointed a certain 'stall' we were feeling in the mkt...by end of the day a deep snooze ensued as we kept hearing of the 'stall' and feeling it...a tick off resistance, a tick off support for the eg.nasd... the DJIA which now has 4 little stick man to show for the last 4 days...tell you the truth the feeling was more of malaise early in the morning..maybe it was last nights drink(s)...but more likely just an uneasy feeling for the market with our TRT, SYX, RIMM's near their DJIM highs. Best thing for us to do is try to lessen our exposure some more when our gut is telling us something, a load we all should have been reducing the past few days as the TRT, SYX are a good 40/60% since we introduced them... plus both stocks have provided a re-entry at 9ema for a second ride. Nothing is wrong with the stocks..its just where they are and how far they have come.... IAAC too since the reversal.  Lets not get greedy. We will now wait for a nice break and/or a nice close to get back what we have let go. If it becomes a pullback we will gladly add a 3rd time to some of these names. What might happen in the near future is a very volatile market depending on who is releasing that day...one good report...one bad report and so on taking the market with it, we'll stay on our toes but won't sway too fast one way as things can change by the next big name report.  Some of the stocks in our list are seemingly in a similar position to where EDU was yesterday...trading in a tight range. Except the CETV,CPY, DGIT sit near DJIM highs and seem to have found some sellers at these levels. Just like in EDU's case today or AZZ's yesterday.... we are waiting for confirmation of a move before adding...a move that will hold a break to the upside by end of the day. You don't want to hold a move like ANGN's yesterday where the break does not hold later in the day. Anyways, EPS season is here and extra cash to use is not a bad thing to have sitting around.  For those looking for intraday action...ACOR, NRPH provide plenty of squeeze for the day.     Charts updated for tomorrow.

Article originally appeared on Your Personal Trader (http://www.yourpersonaltrader.com/).
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