Tuesday, August 5, 2008

Today's Action

General Mills (GIS 66.19) Another vest @ $66.01; Equal Weight now (50% of full stake).

NAZ looks good if it breaks through 2353. Revisit resistance levels following today's surge across the board, all indexes up over 2.8%.

Healthcare, based on the SPDR (XLV 33.02) is surging to March 2008 levels. Could find pressure right here, at resistance and the 40 dma. Looks good if it moves through $34.

Consumer Cyclicals up huge today, over 4%.

AutoNation performing well, up 20% from purchase but should find resistance here at $11.40ish, the 50 dma. I'd like to see it settle back to $10.75 to lock in another vest. Double top breakout signalled today, P.O. of $16. It was reported 7/31 that Lampert boosted his stake, yet again, to 44%. In review of the purchase day and must make mention of the inverted hammer.

Fed left rates alone; no surprise there.

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