Tuesday, May 5, 2009

Failed resistance.

It looks like these markets have more up to go.  However, I am a bit leery of jumping on the upside mid-run.  We got stopped out of SMN at 23.50.  TWM (Russell 2000 inverse) I will still hold onto.  For individual stocks, MMM looks like a completed pattern and I expect it to go down to 52 as long as it stays below 59.2.  MCD looks like it has strong upside potential.

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