Slim Pickin’s
August 25th, 2005 by BWV
It is absolutely dead out there. At 2pm, the DJIA is flatlined, up 6 measly points, with the range from top to bottom only 30 points wide !
Sometimes there is much more action in invididual stocks than the big market indicies represent.. Unfortunately, today is not such a day. Most of the stocks I’m tracking for long entries are still in pullback mode.. So it’ll be a little while before I can go in and do some buying on a meaningful scale. The things must first stop going down, & then show some stabilization by trading sideways for a week or so.
One new buy I made today was NTRI. The stock ramped huge in late July on earnings, then has generally pulled back for the last month. It appears that yesterday’s low could well turn out to be the first “higher low” of this stock’s change of trend.. back into Up mode.
Further, breaking that Downtrend line is a prerequisite for a new up move to occur.. for this thing to go up, it by definition must break the line. So far, it looks like that task will be performed today. I’m long from $20 flat.
Long NTRI
