Sunday, April 20, 2008

Right now I have a close watch on the agriculture names. There is a great ETF to look at on a pull back. I look MOO it is the agriculture exchange trades funds and has most of the big agriculture names. For those of you who do not know what an ETF is google exchange traded fund. I like MOO on a pullback to $60.00. If it holds $60.00 and then show some strength a good entry point would be about $60.25. Make sure $60.00 holds. If it falls through $60.00 let it come back up through $60.00 to get in or let it drop down to 55.00. I also like coal and steel. Again, these have had a huge run the last several weeks. Look to buy on a dip (pullback). If you have questions about these concepts please let me know. Also, I think the refiners are due for a run. However, I like OIH (Oil ETF) on a pullback just in case the refiners do weaken you a lot of diversification in this ETF! If you like to trade stocks and not ETFs. A good place to start is to look at the top holdings in the above ETFs. This will help you build a list. Later this week I will try to cover support and resistance to identify an entry point on these stock. The entry point is crucial. Remember my last post when I said you need to become the house. A good entry and exit strategy will help give you a winning edge.

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