Online Stock Trading | NASDAQ Powers up, Leads Stocks Higher

NASDAQ Powers up, Leads Stocks Higher


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And on the second day the NASDAQ takes out its 200dma with increased volume. Not only was volume higher than the previous day but it was also higher than its 50dma. This is an important development as of late for the stock market. There is no question that the NASDAQ is leading us higher and its where the Big Winners are at the moment. Price and volume since the follow through day have had us pointed higher. I still believe that there are many Institutional players on the sidelines watching this action. Some came to play in the sandbox yesterday but, the majority still are hoarding cash. We continue to point to higher ground from a price and volume view and that is where I’ll be playing: The Long Side.

A stock I have owned for about a month now, VISN has been non-stop. The stock belongs to the IBD New America index and sports some pretty hefty growth figures. I am looking to add to the position but I need a proper entry and I will not chase this stock higher. A pull back on lower volume to its 21dma would be ideal. Another stock along the same lines is VIT. I am still looking to add to this position as well.

HOGS is another stock I am waiting to see a breakout in. This stock again has tremendous earnings and sales growth its just the chart needs more work! GA fits into the same category as HOGS, both stocks are coiling and are ready for more upside. Oh and let’s not forget PWRD. This puppy continues to consolidate nicely, PWRD has an excellent chance to explode to the upside.

There are plenty of stocks that are locked and loaded for gains. Do not let opinions interfere with your trading operation. Opinions are not well suited over the long haul, they may work short term but in the end they will just burn you.

Trade Wisely

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One Response to “NASDAQ Powers up, Leads Stocks Higher”

  1. NASDAQ Powers up, Leads Stocks Higher | Investors Paradise on May 16th, 2008 12:07 pm

    […] And on the second day the NASDAQ takes out its 200dma with increased volume. Not only was volume higher than the previous day but it was also higher than its 50dma. This is an important development as of late for the stock market. There is no question that the NASDAQ is leading us higher and its where the Big Winners are at the moment. Price and volume since the follow through day have had us pointed higher. I still believe that there are many Institutional players on the sidelines … [visit site to read more] […]

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