Trend Notes: 9/5/2006

Today's action was pretty much killed by a downgrade of ECL from "buy" to "hold" by one analyst. That was enough to cause a big dump and some dancing on my stop price. I'm not sure the price recovered enough by the close to keep it in my portfolio tomorrow. I may get stopped out. It would be a shame - I was really liking how things were setting up with this one.

I picked up two new positions today: DRIV and NEU. Both are in solid uptrends and broke through resistance with volume today.

On to the stock reports:

LH: Sideways sliding consolidation continues

ECL: As stated, an analyst pooped in my Cheerios.

OKE: Upleg is continuing nicely.

RAI: An extended sideways move would not surprise me.

CXW: I keep hoping to start the next leg up. The bottom is officially flat.

TXU: The slope is generally up. I'm hoping not to see 63 again.

HCR: Not a good day today. This one may be falling apart.

LNT: Today is what I've been waiting for! The breakout pattern completed. Now we need to see some follow through.

SBIB: I sense a breakout coming. The volume/price action looks explosive to me.

XOM: The price confirmed a bottom, but volume needs to pick up.

CMCSA: I have a tight stop and would not hate to raise capital here. I'm just not sure there is much upside. I am almost positive it will be slow in arriving if there is.

LTR: Volume is decreasing on the sideways consolidation move. We're in good shape here.

GIS: Way more room down than up. The stop is very tight.