Tuesday, February 27, 2007

Wipeout!

Buyers of volatility would have had a great day but for market bulls it was a big slap in the face. The end-of-year 2006-2007 rising channels are no more, but for Tech and Small caps there is still (former) horizontal channel support dating back to December 2006 to look for (indeed, Tech made its small bounce from this zone). The Trade Ideas scan was obviously slow - but I was surprised to see 8 picks coming in under the hour mark at 52 minutes (a really slow day would require the whole day to come up with 8 stocks). Tomorrow will likely be dull as traders assess what damage has been done...

Bonds and Questar (STR) were the only Trade Ideas picks breaking the 20 appearance barrier:






 
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