Mar 24, 2008 - Issue #103


Metamorphosis, defined as sudden and drastic change (as of form), is an apt description of current market price action. Decisively up one day, decisively down the next, and decisively up again the following day. Is this indicative of a market in transition?

Volatility is huge. Don't expect to be able to buy cheap options. These conditions are ideal for option writers.

C and MRK are selling far below their respective 20 ma's and, like a dog on a leash, could be jerked back up in a tradable rebound.

GM and PFE might offer the same opportunity to those nimble traders that know where to place their stops.

Dow score card for the week ending 3/20/08.

DJ-30: 12361.32 +410.23 +3.43%. The Real World (arithmetical) DJ-30: 50.61 +1.66 +3.40%.

UP: 22, Down: 8.

Trends (weekly charts): This is the subjective part.

Rising (Generally Higher Highs/Higher Lows) 14 (+10) 47%:

+*AXP, +*BAC, +*C, +*DIS, +*GE, +*HD, IBM, INTC, +*JNJ, +*JPM, +*KO, +*PG, +*T, +*WMT.

Consolidating (Generally Lower Highs/Higher Lows) 11 (-3) 37%:


Declining (Generally Lower Highs/Lower Lows) 5 (-7) 17%:

-*AA, BA, -*CVX, -*DD, PFE.

+/- denotes change of direction.

* denotes change of category.

Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!

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