A week off was just what the doctor ordered. I can attest to the benefits to taking some time off every few months to take in our surroundings. A week of walking on the beach and enjoying the coast we all pay so dearly for in Southern California is a great way to recharge the batteries. That being said, on Thursday, itââ,¬â"¢s back to business.
Affiliated Computer Services (ACS) will be on the watch list for the session, as the stock appears ready to retest the May 3, 2006 low.
Affiliated Computer Services
Barr Pharmaceuticals Inc. (BRL) also appears to be headed lower. We will watch for a move below the Wednesday low for a clue that the stock may be getting ready for an expansion move.
Barr Pharmaceuticals Inc.
On the long side of the market, Consol Energy Inc. (CNX) had a Fast Ball range and price expansion day on Wednesday, and could move higher Thursday with a little help from the indices.
Consol Energy Inc.
Omnicare Inc. (OCR) made a Fast Ball move through the 20 period simple moving average on Wednesday, and seems to have room lower to around 53.60 (the S1 pivot support level for Thursday).
Omnicare Inc.
In steel production, Companhia Siderurgica Nacional Sponsored ADR (SID) had a minor Switch Hitter pullback on Wednesday. A lack of overhead resistance until 37.35 has the stock on our radar for the session.
Companhia Siderurgica Nacional Sponsored ADR
Adrian Manz is the author of Around The Horn: A Trader's Guide To Consistently Scoring In The Markets and is cofounder of TraderInsight.com. Email him at adrian@traderinsight.com.
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