Game Plan: Keeping our eye on the ball as the bear market unfolds. There will be rallies and I want to keep scouring the investing landscape to build a list of ideas to buy when the time is right:
BIDU - This stock is tracing out a perfect cup/handle base on the weekly level. The volume has clearly declined in the most recent pullback as the market has collapsed. The MACD histogram is perfect on the daily chart showing an uptrend and the weekly has begun to turn positive.
BBH, XBI - The Biotech ETFs are showing tremendous strength vs the market. It would appear that a real rotation into this group is unfolding. the relative strength of this group has advanced markedly as the overall market has hit new lows.
Thursday, July 10, 2008
7/9T9:13 Game Plan
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