20060712 Tom PM

INDU 11013.18 down 121.59.
CCMP 20990.24 down 38.62.
SPX 1258.62 down 13.9.
Dollar 85.60 up .57.
Gold 653.30 up 2.10.

Price destruction with light volume.

NEM 55.29 down .21. Gave up higher price today. Needs time to build cause to go up.
SCUR 4.99 down 3.08.
OEX 576.96 down 6.72. Highly volatile options contract. There is a weekly closing OEX that Tom will trade on Fridays. The monthly Tom will only trade during the last week of the contract. Need 5x or 10x setup, not a 2x double.
DNA 80.98 down 3.08. Gap at 77.97 to be filled. In a trading range, so consider buying at this second gap. Stop at 75.77.
HOV 27.94 down .47. Keep holding the short. Will be some support at 23. Will go to 17 and maybe 7. There is nothing holding this up.
CTX 47.86 down 2.29 with volume. Home builder with building contractor/supply companies. Was great on the way up and will go down even faster. Big ABC down. Is in worse shape than HOV. Wait for bounce to short.
SHLD 148.37 down 8.08 with volume.
GNSS 10.61 up .39. On weekly, low of 9.75 this week is successful test of July 2004 test because volume was lighter. On daily can test May 03 2006 12.72.

LBIX 6.65 down .22. Build base at 2.56. Decent chart. Has done parabolic move up with volume. Broke above highs from 2000 and 19995. Look to buy at 3.74. May not get below 5.
GSS 3.09 up .06. Stronger than other golds.
GLG 37.44 down .61. Had volume and gave up price. Will test 36.25.
GILD 61.79 up .03. Wants to test 66.20 high, though it has already made most of the move. Up on a down day today.
ZHNE 1.98 down .05. Has acted okay the past month, so has not had time to build cause to go up a lot.