DOW JONES – Watch For 6-25-09
Posted on June 24, 2009 by Penny Stocks Picker
The Dow Jones Industrial Average (Index) is one I watch frequently to get a sense of direction of the overall market. I have been predicting that the DOW will trade around 8500 for a period of time and will swing between 8200 and 8900. Looks like I hit 8900 dead on the money (8911 was the high) and now the 8200 test is on. DOW 8200 has some decent support so we should see a bounce off that regardless if it does continue down. I personally think 8200 is going to hold and head on back up to 8500 (and then continue to swing between 8200 to 8900 for several months or more). Well….that’s my 2 cents on the DOW…and worth just about that. If the DOW does happen to go back to test 6500 again, then I’m going to load up on the blue chips. What’s the worst that can happen at that point even if it goes to 3000 (unlikely that’s going to happen)? Point is….pay attention….have a plan……do something.
IMGR @ .0006 (Breakout price and up 100% today on breakout volume. Chatter picking up but has some negativity. I agree with some of the chatter that it is very possible a group of traders working this one to run it up and then dump it on us. That happens all the time in penny land so be forewarned. However, I think the chart looks good and may bring some attention regardless…..so…..if the train starts to leave the station and you jump on….don’t forget to get off before it comes to a stop and heads back the other way. TRADE IT if you get the signal…don’t invest!)
AFTC @ .045 (Looks like a paid promotion is going on via e-mail alerts so we could see a quick run in the morning. News release on Tuesday announcing a test with FORD Motor Co. The chart looks decent and today’s candle stick was very bullish (opened at low and closed at he HOD)).
As always, I don’t like to tell you how to plan your trades…thats up to you. I just identify some stocks to watch…the rest is up to you.
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