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Wednesday, June 16, 2004
Good evening friends,
Market Recap
If you are considering taking a vacation, from a trading stand point, now would be the time. I do not expect any big breakouts to occur anytime soon in this trend-less market. The great economic numbers out yesterday could not jolt this market forward, and if the anemic volume today is any indication, many traders may already be out of town on their vacations.
The NASDAQ closed up +2 points and the Dow did not budge - closing even. Both indices remain above their respective 50 and 200 SMAs so we will remain positive at this juncture. However, with such light volume lately, we have to believe there will be no immediate surge upward in the market.
I review the charts of every single stock on the Bulletin each night, and I will comment if I see a significant change in pattern or indicator. Because of such a flat market today, there are not many changes in the charts tonight. I have updated comments on a few stocks but for the most part, there just is not anything to update. Unfortunately, there will not be as many updated comments as you normally would see.
If there is silver lining in this flat market, it is the fact that the longer we trade flat the more explosive the move will be when it does come. Hang in there folks, we all know that the market will one day go up again, the question is, when?
As always, thank-you for your support past, present and future! Have a great night everyone; we will see you all Tomorrow evening.
OTC BB Watch List
- None
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