Wednesday, January 19, 2011

Chart of the Day

Today's Chart of the Day is AMAT. Like the way it is consolidating since the breakout from couple of days ago. Higher lows being formed. Wait for a break of 15.35 on volume before getting in.

Some words on the overall market now. In my opinion, today's action was a lot more bearish than what is suggested by DOW being down 10 odd points. I am still not going short here, for swing trades at least, but a healthy cash position might be the need of the hour here.

Take care and good luck!

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