Saturday, July 09, 2005

Nasdaq in the Driver Seat

Here is a look at the recent breakout in the Nasdaq:
Volume was nothing to write home about, but the price action was signigicant. Breaking above the 2100 resistance level, after a 6-month consolidation, should propel the Nazz back to the forefront in terms of leadership.

That means that I want to start tilting my portfolio towards these (four letter) stocks. A strong summer rally would definite qualify as an unwelcomed rally to all of the short-bias hedgies and other players in the market.


Post a Comment

<< Home