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The latest from the
OptionHunter session 05/11/2009
Our
goal as a trader is to understand the technical strength of
the indicator and act on it.
DIA -
Upward momentum is dying
for the near term which represents a loss of conviction for call options, it
doesn't have the same force as it did.
FAN - Wind Energy Index doesn't have same loss of
momentum as other major indexes like DIA, this would be a better call option
choice that the other 2 indices.
UNG - Hourly had a v-shaped double bottom on last day of April,
weekly and daily have strength built into it, price hit new low, indicator
didn't, daily chart turned up end of April, good for 2000%.
ICE - doesn't have the same strength as Wind Energy Index, has
slight downside divergence in the indicator.
QQQQ - No weakening on the weekly chart, indicator is at
relatively high level compared to price.
IGT - little bit of
weakness on the daily, weekly shows no sign of
interruption.
ISLE - this is a
stand out stock in the Casino group, monthly is turning up
and volume activity make it a classic pattern.
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