Monday, September 30, 2013

Monday's Outcomes

Having broken below the 20-day price channel, CSCO moved back above the boundary within the first half hour of trading and didn't look back. I won't be opening a new bear position today because of the upside momentum, but I'll add CSCO to my Watchlist. See my analysis, "CSCO: Bearish on the bones of the 'Net".

USO, which has been on my Watchlist since Sept. 24, gapped below its resistance level of $36.85 but moved back above it with two hours to go before the closing bell. I'll keep it on my Watchlist but won't open a bear position today. See "USO: Crude bear play".

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