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Wednesday, February 28, 2007 

Stocks bounce back but I'm not confident

Chart courtesy of stockcharts

Shares of Srint rose 4.6% to 19.30$ after company posted a higher fourth-quarter profit Wednesday as revenue increased with customer additions to its Sprint network. The technical chart indicates that the stock is in a Bullish mode , close above 50 dma and 200dma. The momentum is good for Bulls with MACD above 0 and RSI in Bullish territory, the volume was huge !!!

Chart courtesy of stockcharts

Shares of Kenneth Cole Productions rose nearly 12% to 25.58 today after the company reported a higher quarterly profit as revenue rose 1.5 percent. Looking at the chart the stock broke out an important resistance at 24.79$. If this chart does what is supposed to do, it will be going higher in the weeks to come.

Macro economic news reported today :

United States economy grows at 2.2% pace in final quarter of 2006 more than a percentage point below the initial estimate of 3.5 percent, much slower than initially thought as businesses tightened their belts amid fallout from the troubled housing and automotive industries.The new GDP figure for the October-to-December quarter was slower than the 2.3 percent growth rate
economists were forecasting.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all. Have a nice evening !!!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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