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Technical Analysis CRS OMG WFR Sectors Portfolio Table
Wednesday, December 6, 2006
Nightly Update- OMG, CRS, and WFR

This is going to be a short update. I want to let you know that I have added a sector column to the portfolio table. As you can see, we are overweight these sectors: oil, ethanol, gold. The portfolio does have some semis, healthcare and pharma's.

OMGroup, Inc. - (OMG)- Daily Chart
OMG is a medium risk ethanol swing trade. The daily chart of OMG illustrates that it is in an ascending triangle pattern. As you can see, It has completed a wave 3 to 4 pullback, but has held it's long term uptrend line. The ascending triangle pattern suggest a minimum price target of $65.00- $75.00 from an entry around $50.00. I had originally wanted to buy OMG at the 200 day EMA or at the trendline. Unfortunately, I missed that opportunity. I issued a buy alert on OMG today. This chart looks very similar to the Zoll chart. Furthermore, you will note the indicators are not quite but very close to a 1-2-3 bullish trend reversal, and the moving averages are beginning to crossover.

Carpenter Tech Corp. - CRS- Weekly Chart
I issued a buy alert on CRS today. It is a medium risk basic metals swing trade. As you can see by looking at the weekly chart, CRS is in a bullish symmetrical triangle pattern. As with many of our stock plays it is completing it's wave 3 to 4 pullback, and on the verge of breaking it's down trend line. If you look at the volume you will see that there has been steady volume for the last 3 weeks. This accumulation has caused a bullish Aroon cross. Indicators and oscillators are in a 1-2-3 bullish trend reversal, showing positive divergence, and are moving up along with price. Sometimes a stock has to become very overbought on the daily in order to cause a bullish Aroon cross on the weekly. Occasionally, this cross on the weekly will cause a swift pullback on the daily. (see weekly HMY chart for example) We will just have to wait and see.

MEMC Electronic Materials - WFR - Weekly Charts
WFR is a medium risk semiconductor play. I issued a buy alert on WFR on 12/4/06. WFR and CRS have very similar charts, in fact, they are so close they are almost identical to each other. Note the percentage gains for each week so far in WFR. These gains have been accompanied on heavy volume.
Indicators and oscillators are in a 1-2-3 bullish trend reversal, showing positive divergence, and are moving up along with price.

ON a side note the OIH made new swing highs. There will be no pre-market or morning update tomorrow. However, there will be a noon update.

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