Updates on Current Stocks

Amidst the turmoil of Motorola, communication equipment maker, Wireless Xcessories Group, has taken a very modest loss of 4% as opposed to 10% for MOT. This should mean something to you knowing the beta on XWG is much higher.

Either the light volume is creating inefficiencies (as the two should trade alike) or XWG simply has better growth prospects, being a much smaller company. I’m betting on the latter. The stock is showing some resolve, as it touched its current strong support of 2.7 and bounded back up. I’m optimistic that we will have at least a 20% profit on XWG by December.

STP is climbing up to a resistance, so either flip it short term and allow it to come down around 50DMA support, or relax, grab an iced tea, and know that STP will be even higher in a few weeks.

TINY is not playing by the books, I thought it would stay above 200DMA support, but instead it’s dropped a full point. Charts don’t look hot anymore, but the news on TINY is reason enough for me to commit a cardinal sin, and keep a stock with an ugly chart.

ONXX is trading exactly as I hoped; it is now slowing down at resistance in the high $11 range. Expect some indecision at this level.

Finally, GLW is getting unpredictable, as each technical indicator is telling a different story than the rest. It may be too late by the time a winner allows for prediction of price change.
-Chris