Monday, October 5, 2009
Weekly Watchlist 10/5
There are plenty of charts out there that offer some bullish setups this week and then some that look more bearish. The pullback that we had last week was just that. A pullback. The weekly charts were so overextended that they deserved a breather. For now we are seeing some controlled selling in select sectors. I do not see any reason to become a top calling bear and overly concerned about the downside. Until we have a key level like 980 broken to the downside or the 20ema crosses under the 50ema on the daily then you should not fall in love with the downside.
Longs>> COP, CHKP, DF, CL, NTY
Shorts>> ANF, MCO, MHP, DSX, HES