I didn’t trade any stock this week because I barely found any stock to watch and they didn’t open higher the next day. I guess it was my lucky week since Dow is down over 200 points. I did a scan and didn’t find any stock for Monday.

Let’s look at the Dow chart.

Both the Macd and Stochastic is pointing downward. Candlestick is bearish and it is hitting the support level of 8200. If Dow continues to decline next week and breaks the current support level, we will be in trouble. Let’s see how Dow performs on Monday.

This entry was posted on Friday, July 3rd, 2009 at 1:32 am and is filed under Daily Stock Picks. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.