The folks I know who were playing the Crude Oil futures off the hourly finally exited their positions this morning. That was a heck of a nice run!
Light Sweet Crude Oil futures, Hourly Chart
Once again Jim Stretch played some good music this morning at WNCW, including some Martina Topley-Bird. I highly recommend you check her out. (You may know her from Tricky's album, Maxinquaye... which I also heartily recommend!)
Let's take a look at the 45-minute Nasdaq 100 futures chart. The fuzzy logic got long back on August 16th at 1328.50 and is still long at the moment. My main man Mike's modified zig-zag got him long at about the same time, but he probably exited below 1369 this morning (assuming my zig-zags match his).
Capturing 40 NQ points is what it's all about... way to go! (Mike, you should have dumped her ages ago... better late than never.)
NQ, 45-min. Chart
You gotta love it when institutional stocks like Broadcom get hit.
BRCM, 5-min. Chart with pre-open session
Selected bits from Briefing.com:
SAFM -15% (misses single estimate, reduces guidance), er - WSJ)
BRCM -1.5% (estimates cut below consensus at CSFB)
SANM +3.9% (names a new CFO, Thomas Weisel upgrade)
BCRX +3.6% (receives orphan drug designation)
ECGI +13% (authorizes share buyback plan)
The best thing about the movie L.A. Confidential is the music. I was especially pleased to hear Lee Wiley's version of Oh! Look At Me Now. (She's way at the top of my Top Female Singers list.)
I'm not the girl who cared about fortunes and such
Never cared much
Oh, look at me now
I never knew of rhinestones or rubies
I never knew a mink from a sable or seal
Ponies from Ree(?)
Oh, look at me now
Got a new man, what a man
He's no handsome Errol Flynn
I like his face, and his bank is Chase
Half a million dollars ain't tin
Oh I'm the girl longed for a cottage
So I'm the girl who's got an estate with a gate
I'm doing great
Oh, look at me now
He gives me checks, brand new checks
I've got more than I deserve
I sleep till two, then what do I do?
Pour the wine and serve the hors d'oeuvres
Oh I'm the gal who's married to Wall Street
Yes I'm the gal who's worth about five hundred G's
At which don't sneeze
Oh, look at me now
Oh, look at me now
Yesterday MSFT coiled tighter still... keep an eye on it.
MSFT, 30-min. Chart
Tone: Positive 80%
| Last | Symbol | Net% | High | Low | T.C. | U.V. |
| 37.97 | QCOM | 2.06% | 38.71 | 37.17 | 32684 | 3.60 |
| 27.60 | ARTI | 15.57% | 29.03 | 27.28 | 12976 | 31.15 |
| 20.22 | MNST | 4.06% | 21.20 | 20.10 | 7583 | 2.37 |
| 15.18 | SNPS | 2.56% | 15.29 | 14.89 | 6328 | 2.15 |
| 28.73 | HDWR | 3.71% | 29.50 | 27.93 | 5458 | 3.79 |
| 9.20 | ESMC | 39.60% | 9.48 | 6.42 | 4211 | 5.74 |
| 4.46 | ARMHY | 19.05% | 4.59 | 4.41 | 7289 | 59.97 |
| 38.40 | CRDN | 2.29% | 41.10 | 38.15 | 7051 | 3.23 |
| 2.26 | GNTA | 11.71% | 2.77 | 2.10 | 5517 | 1.95 |
| 17.80 | SCST | 27.34% | 18.75 | 16.80 | 4263 | 20.50 |
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