20070620 Tom

DJIA 13,489.42 -146 Took back six weeks of trading. Going to 13252.
NASDAQ 2,599.96 -26.80 Going to 2534.
S&P 500 1,512.84 -20.86 Took back 6.5 weeks of trading. Going to 1487.
Small caps gave back gains to April 25.

Over past month, quality volume had been down with light volume up. Down volume accelerating.
AMEX closed early. As of 3:34 p.m. ET, AMEX has closed trading in all equities and ETFs for the remainder of the trading day (options are still trading).

Cotton up strong, was at limit up at one point.
Sugar putting in lows, was overdone to down side, could double in next year. 9.47 cents per pound, was 20 cents per pound in the past.

GROW 24.74 Wait to buy at 19 or 17. Gold equities are not ready to buy. Gold equities will pull back with broad market. Bonds and dollar will pressure down the markets and gold equities.
AMD 13.64 Can pull back to 10 and maybe 2. Has come down from 41 on April 25.
HMY 14.5 Buy at 13.7.
PMU .98 Sign of strength today with price, not volume. Going to 1.13.
AMR 27 Today was sign of strength, and needs to show more proof. Maybe buy next retracement, or if no other sign of strength then can go to 19.
HOG 59.58 Going to 57.91.
DRYS 38.11 Good looking down volume for potential short at 39. Research the Baltic Freight Index.
ACTU 6.26 Pushing highs with volume.