An NYSE Scalper's Tale - A Trader's Diary

Tuesday, March 28, 2006

What I'm Watching for Wed Mar 29, 2006

Today it seemed like most of the retailers held up well despite the drop in the markets.

That being said, I'll keep watching both Walmart (WMT) and Home Depot (HD) tomorrow. Home Depot was the only Dow component that was not negative today. HD was well on it's way upwards and was pushing $43.50 before the overall market tanked. Hopefully this relative strength in the face of a falling market is a good sign. WMT closed at $47.75. HD closed at $42.99.

Well well well, a day after I blacklisted Pfizer (PFE), it catches my attention again. Today it rolled over and looks like it may start downtrending. After ranging between $26.00 and $26.50 for more than a month, it's a welcome change. PFE closed at $25.35.

Finally, I'm going to see if there are any opportunities on Tim Hortons (THI). Since it's IPO on Friday, it has been down the last two days. Let's see if it can catch some stability so I can start trading it. It's price range is just where I like it and hopefully more volume will pick up on the stock. THI closed at $26.48.


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