Friday, May 12, 2006

20060512 Tom PM

INDU 11380.99 down 119.74.
SPX 1291.24 down 14.68.
CCMP 2243.78 down 28.92. Is back to January 03 breakout.
Gold Hit swing point from 1980. Now retracing. Will go back to 615 or high 500s. Volume in equities at the highs.
Bonds 105.14. Closed at low. Going to 100.
Biotechs had some strength today.

NDX 1635.81 down 21.67.
QQQQ 40.19 down .55. January 03, November 10.
ANSS 55.04 down .57. Will test 53.80. Buy at 49.13 if volume lighter.
GLD 71.12 up .09.
BGO 5.58 down .39. Russia risk. Buy back around 4.68.
TSCM 11.34 down .48. Wait for retracement to at least 9.93.
RTY 742.40 down 15.07. 733 is next price.
UNH 45.84 up 1.47. Can bounce to 49.32.
RIG 84.36 down 3.30. Wants to go to 70. Wait for bounce to short.
OMRI 13.95 up .45. New issue. Biotech, may buy here.
HL 5.46 down .59. Look to buy at 4.37. Going to 9.45 in a few years.

GBN 1.99 down .13. Wait to buy.
PRST 10.44 down .71. Consolidation 8.76 - 12.
TGB 3.32 down .26. Can test 2.20s.
KLAC 46.62 down .44. Needs to hold 45.33. SMHs held up well in this market.

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