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Hi Guys,
I don't know if I'll wake up in time to watch the open, but as a number
of you have expressed an interest in the hit list I make for potential
short term trades, here it is for Wednesday. By the way, I am not
particularly happy with what I have for tomorrow but you can decide for
yourself.
1. WMX potential long, better entry was today, additional upside action
still possible
2. DGN maybe at it's bottom, could go either way, but if techs are
weak, i think it would be a decent short.
3. U also could go either way, but watch for a possible bounce if the
sector is strong. Don't look for more than a point on this one.
4. OEX possible bounce up, consider buying calls if you can get them
cheap; look to unload the calls fast for a modest profit as institutions
will sell into strength.
If you decide to play any of these, wait for price confirmation first,
do not buy or sell the open, and do not hold overnight unless it closes
in your direction. Then look to sell into rally or cover into weakness,
this is a whipsaw prone market we're in and thus far it is bear
territory. .
Best wishes,
James
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