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The latest from the Options Hunter sessions 05/04/2009
We learned today that the strongest
groups are Steel, Coal, Hotels, Casinos, Commodities.
CSUN -
Price is not
reflecting what the technical indicators are showing. Strength comes from the
weekly chart. Stock should be around $6.
CME - Weekly still has control. Daily has turned back up.
The hourly gap on MACD is much wider suggesting strength is returning. The MACD
bottoms are higher than the price is reflecting.
STLD - Steel group very strong, could make money on almost all
the stocks in this group. Most have strike prices for every dollar. STLD
technicals could take it over $20, hasn't breached the $14 level, but
technically should be above that level, this one and X better technically better
than SCHN. BidxAsk on SCHN is at .65 - .80, this is too much, spread on X
is .55 - .65, this is much better.
MEE - Coal group still very strong, MEE, could made over 1000%.
Homebuilders Group - PULTE has yet to break out of base,
doesn't have same characteristics as MTH. MTH, DRH, KBH technically
strongest in group. Technicals are persisting, which can mean more to
come.
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