Monday, August 18, 2008

I find myself struggling to try to find things to like

Which is God's way of saying "Don't do anything."

Strong groups are apparel, retail, paper, med/pharma/biotech. Oil implosion rally in the airlines, travel and transports.

One the long side, I'm ticked at not having more retail on, when I was looking right at it. It just ran away so quickly that I never caught that perfect double-bottom in KSS. I guess I could countenance a shot at LULU a little lower, call it 21.75 just by eyeball. Double-bottom and 4 out of 5 divergences with a huge short interest in a strong group.

I like the flag in IP. Stochastics coming back to oversold here soon, might be a time to look at it. My eye keeps wanting to make something positive out of BZ, but I can't for the life of me say what it is.

On the short side, ENR has a good entry point where it's filled the gap at 85. I'd also take a shot at PCLN on the short side around 115.

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