Tuesday, May 08, 2007
Just about every "down" day we've seen over the past two months has seen this typical pattern. A weak first hour and then a reversal around 10:30.
Buyers are focused on heavy construction, railroads, internet service providers, trucking, and technology while the precious metals are being sold. Many stocks I'm looking at are in a catch-22 situation where they look ok, but I think I can buy them either lower or after some much needed consolidation.