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A Recent Sample Of Gary
Kaltbaum's
Setups I See For Tommorrow
October 25, 2005
PRE MARKET FOR TUESDAY
I know about EBAY. That stock was toast yesterday until the major ramp and short covering at the close. I am watching.OK...I am going to be the voice of reason this morning.
Yesterday's move was huge...BUT WHERE WAS THE VOLUME...NONE!I dont mind light volume...I mind no volume.
Yesterday's move felt a little too "noisy." Maybe I am being picky. I just dont like when bells ring. BULLS are already jumping all over themselves. BULLS are talking like the market is having a great year. it is still down 3%. You would have thought it was up 25% the way some are yapping.
There are still NOT MANY set ups. For sure, many areas are TRYING to turn after the recent ugly. I would just love to see better bases.
Thee are still a ton of stocks and sectors in poor technical shape.
EUROPEAN markets are no longer leading us. In fact, EUROPE is flat today...even after our big move yesterday.
Markets are already into pretty decent resistance. We are getting close to where the rubber will meet the road. The best scenario would be for the market to back off here...build better bases and then come through resistance.
Lots of early gappers. I am sure I missed a few.
Gapping down...TXN,PLAY,CVC,ACF,INTL,ALTR,CNET,PNR,ALB,HSIC,CME,RIMM
LXK,JOE,CVH,ITWO,CSC,WWY,SHW,DD.
Gapping up are BMHC,WIRE,NBR,SEPR,LCAV,COH,AVY.
TXN and ALTR will not help the SEMI case...as the SEMIS lagged badly all day yesterday. Please keep in mind, there is still about 500-1000 more names reporting this week.
EBAY getting hit on supposed rumors that GOOGLE coming out with Paypal-type product. We now have to be cognizant about covering. I dont like moves on rumors. Use a $38.56 stop.
Make that a $38.30 stop on EBAY.
Make that a $38.30 stop on EBAY.
NIGHTLY FOR WEDNESDAY
The market had a real chance to get in trouble today. The A/D ended poorly but major indices rallied in to the close. he market is working on a follow through day...and so far, I give it a "C" rating. I say this because there are still too many stocks and sectors in poor shape. If this is going to be real, I believe it will take time. Damage would have to be repaired. New bases need to be built. I will let the market prove itself...but I am still more comfortable on the short side. When bases show up, we will jump all over the long side.Take BSC and CLE off the plan.
Let's put ADCT back on breaking $17.98...50%.
Low risk entry right here on HPQ with a stop at $28.30...50%.
Just a 25% probe short in CAT. Big gap and overowned. We shall see.
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It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment. HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHERSLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. The Connors Group, Inc. Copyright © The Connors Group, Inc., 2005.
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