Wednesday, August 27, 2008

Slow Market; MENT, JCG

Things are pretty slow off the open. MENT is slightly positive after ramping yesterday. It's probably done moving up for a while. JCG looks to be recovering after gapping down a few bucks. It's experienced a slow, painful slide since late May. It's not looking especially attractive on a long term chart, but may be ok to fill some of this morning's gap. Oil is fading slightly after being up strongly on the open. Sentiment in that market has turned slightly from where it used to be and things are looking relatively bullish. However, the commodity is now up three days in a row which means it may have limited upside from here.

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