(C) 1008 Wm. Schmidt, Ph.D.
The market is clearly still very weak and feeling for a bottom,
possibly near 7200-8000. Almost no stocks are making
new highs. And almost no stocks have rising Closing Powers.
We just have to wait for better times to take long positions.
Short Sales in the NASDAQ-100 that are weaker than that average seem reasonable.
Here the stocks with both Opening and Closing Powr declining where the current
Accum. Index is below the current level of that indicator on the QQQQ, itself.
These stocks have held up. But they will get hit more, if the weakness in the
general market continues.
Close out the positions if their Closing Power surpasses its downtrendline.
New Trading Buys
FDG 79.05 AI/200=197
Fording Canadian Coal Trust operates as an open-ended mutual fund trust in Canada. The company holds a 60%
interest in Elk Valley Coal, which produces and sells metallurgical coal that is used for making coke by integrated
steel mills
CRY 13.79 +.44 AI/200=191
CryoLife, Inc. develops and commercializes biomaterials and implantable medical devices in the United States
and internationally. The company?s product includes BioGlue, a polymer based on bovine blood protein and an
agent for cross-linking proteins designed for cardiac, vascular, pulmonary, and general surgical applications,
as well as used as an adjunct to sutures and staples for use in adult patients in open surgical repair of large vessels.
IDRA 10.22 AI/200=186
Idera Pharmaceuticals, Inc., a biotechnology company, engages in the discovery and development of DNA-
and RNA-based compounds for the treatment of infectious diseases, autoimmune diseases, cancer, and asthma
and allergies and for use as vaccine adjuvants.
NPSP 6.58 AI/200=180
NPS Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development of specialty therapeutics
for gastrointestinal and endocrine disorders.
TACT 7/35 AI/200=161
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Short Sales
LRCX 21.12 -.75 -.21 .782 DD Sell short on rally to 23 (Note this where the lower band has been violated.)
This has held up well. But if this is a bear market, mothing will go unscathed.
Lam Research Corporation engages in the design, manufacture, marketing, and service of
semiconductor processing equipment used in the fabrication of integrated circuits.
MCHP 22.84 -.11 -.29 .84 DD Sell Short - Expect 22 to be violated.
Microchip Technology Incorporated, together with its subsidiaries, engages in the development, manufacture,
and sale of specialized semiconductor products for various embedded control applications.
PCAR 28.95 -.21 -.25 .843 DD Sell Short at 29 - Expect 25.5 to be violated.
PACCAR, Inc. engages in design, manufacture, and distribution of light, medium, and heavy duty trucks,
and related aftermarket distribution of parts worldwide.
RIMM 59.01 -.23 -.18 .844 DD Sell Short at 62 - Expect 52 to be violated.
Research In Motion Limited engages in the design, manufacture, and marketing of wireless |
solutions for the mobile communications market worldwide.
