Homebuilders and Golds 032707
Not much excitement today, as the Nasdaq has decided to hug the 50dma the past few sessions. It’s a hit and run trading environment on days like today. If the trade isn’t working I’m out.
Tomorrow, I’ll be watching RYL and other homebuilder stocks. BZH news should provide some volatility in the sector. All the poor news in the sector has been built into the charts in my opinion. That’s why I don’t care about news. Other than it’s relationship to increasing the trading volume, and volatility of a stock.
Gold stocks are trying to consolidate here. I’ll be a buyer soon if the charts don’t break down. AEM and AEMLW are tempting on their dips. Watching for strength and a trading pattern before taking a trade is the patient play there.
March 28th, 2007 at 8:14 pm
[…] and a seperate 5-minute chart for each. They included BLKB, INFY, ALTR, ANGO, EQIZ, and BZH. I mentioned last night, homebuilder stocks would be on the list, with the bad BZH news. One of the stocks, ANGO, had a […]