Very indecisive markets in last two days. I feel that rally in last two weeks was very strong. Markets need to pause and rest little bit.

Strength could be found in Biotechnology sector. Transportation sector is on opposite side. I noticed also possible new wave of buying interest for Utilities (I am watching XLU as sector ETF). After approx 40% retracement of long term rally it looks that sector want to go to its highs again. I like this and I entered ETF trade (in XLU) with targets min. at 43.

I also like some Utility stocks like ETR . I entered today after breakout of 111 resistance level. I expect targets in 118 – 120 area. Any pullback is buyable, too.

This entry was posted on Thursday, October 4th, 2007 at 10:38 pm and is filed under ETF analysis, General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.