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Thursday, November 19, 2009

Market Thought... still don't know

All I know is the fundamentals that fed the rally are still in place, and I am expecting a noticeable deceleration in jobless claims, that should translate to fuel real economic growth.

But there are some interesting plays, as I mentioned earlier in the day. Here are the charts:

CHK is too oversold, but the negativity is very blatant. I do not mind holding this, and if it continues lower I will enter another position between 20-22.

GS is around support, and since I am not expecting the market to completely break down I think GS will pop. I will most likely cover the trade between 178-180.

PWR is very very oversold, and in an obvious negative trend, but at the current level it is to interesting for me to ignore.

I will pick up some SQM at if it reaches its SMA support, around mid 38.

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