Thursday, November 25, 2010

The market opened strongly today but was unable to sustain it as selling pressure started by mid session, losing 27.05 points closing lower by 0.66% at 4097.49.

Top gainers with significant volume today are SLI, BEL, LC, and PCOR.. Top losers with significant volume are LPZ, URC, JGS, MER, DMC and NIKL.

AP declined by 0.59% today closing at 33.75. Technical indicators are pointing to further decline in the short term. Weekly chart is still showing relative weakness confirming the weakness in the daily chart.

AEV declined by 0.39% today closing at 38.35. Technical indicators are still pointing to further decline in the short term. However, it seems like it is near the bottom already. Weekly chart is also showing relative weakness.

Both issues might resume their advances late to mid next week.

Personal target: P35 - today's high is shy by .25 at 34.75
Personal target: P45

*I became overly bullish on the issues that I am currently holding because of my candlestick readings. However, candlesticks does seem unreliable and giving off fake readings so I am just going to use it to check price action and not for possible price behavior in the short term. I would be sticking with the other 2 technical indicators that I am using now for future price actions as they seem more consistent.

AP is up by 24.68% within twenty-four trading days with doubled up position.
AEV is up by 9.38% within thirteen trading days.

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