Steven M. Goffner, MBA

Steven M. Goffner, MBA has been an Accounting, Finance, and Business Management Professor since 1982. He is a former Finance Coordinator for The New York Stock Exchange and educates the public about common-sense methods for investing in stocks. His articles appear weekly on http://WallSt.net for premium subscribers.

Published on 08/1/2008

With the uncertainty over the equities markets continuing throughout the week, I am becoming more convinced that we need to go down to test the Dow Jones Industrial Average support levels of 11,000 and possibly 10,800. As a result, our trading bias continues to be on the short side for the most part. I am somewhat relieved that the price of oil has fallen recently but I am still concerned over financials in the short run. Continue to pay attention to your stop loss orders each time you enter a trade. Have a happy, healthy, and prosperous week!!

CF             98/99...MACD crossover completed. Entered long at 155.46, now trading at 163.34.
TITN           99/99...recommended as a short sale last week at 27.67, now trading at 26.76.
BUCY        99/97...watch for a short sale confirmation early this week.
POT           99/97
MOS          96/98
MEE           96/99
KSU           98/95
FLS            97/96
CLHB         96/97
CEDC         96/96
NOV           98/93
AGU           96/96
FLIR           95/95
RBN           94/97
AMED        93/97
WAB          93/97
PCLN         98/93...Williams %R -20...consider a short sale at 111.18 or puts below the 7 day MA.
HES           97/93...Williams %R -20...consider a short sale if the stock closes below the 7 day MA.