20060809 Tom PM

SPX 1266 down 6. In consolidation.
INDU 11076 down 97. Wants to go down another ten.
CCMP 2060 down 1. Opened higher and could not hold it. In consolidation.
QQQQ 36.53 up .05. Pushed into highs with volume.
Gold 660.80 down 1.20. Going to 700.
Silver 12.52 down .05
Dollar 84.50 up .02.

Today was Wierd Wally Wednesday. Markets sold off.

DRYS 13.51 up .11. Dry bulk carrier. Doubled in last few months.
PDE 26.11 down .09. Can retrace further to 23 easily.
OIH 139.46 up .26. Wants to go back to 130.
AUY 10.87 down .29. Pushing high with volume. Will fill gap at 10.49. In good shape.
FDX 98.40 down 3.99. Can test high of June at 91.
TGB 2.80 down .03. Pushing into highs and pushing into downdraft of May 11 and May 12. Earnings before open tomorrow. Numbers are linked to price of copper. The high at 4.66 had volume so it will be retested.
RMBS 10.80 down .33. Breakout from 2003 is at 7.
VGZ 11.80 up .74. Quality company.
ISRG 95.85 down 1.28. Volume is drying up so will pop soon. Can test lower in the meantime to 91.
X 57.54 down .14. Volume is drying up and wants to test 56.2. Can test 50 from December. Tom sold AKS yesterday.
SWC 10.13 up .01. Like it to close above 10.23 this week.
SELSF .25 down .05. Bulletin board gold stock, do not buy.
PAAS 21.64 up .69. Very strong. Expect a small pull back. Some resistance at 21.86. Buy at 19.55.
CDWC 57.47 down .68.