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Saturday, September 09, 2006

Market Recap


Though Fri ended with modest rebound, it is still on weaker volume.

OIH closed @ 131.45, outside of the Bollinger Bands. See chart. Oversold. Wow! Did anyone enter long on OIH before market close? With support at 130, i like the risk/reward ratio. If 130 support is not able to hold next week, further slide expected. (Note OPEC meeting starts next Mon)

AAPL had another pullback after sprinting ahead on Thurs. Normal. Stock now resting at 75.52. Stock needs to push thru 6 mth high of 73.38

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