Written by: Trader 1/25/2009 4:13 PM
DNA is in the top 10 of the six month relative strength list. It formed a nice pullback into a support area the last few days and bounced strongly with the market last Friday. For a long-side play, stick with the relative strength leaders and this is a good a one as any. The daily chart shown below.
For futures traders, the energies look like they're in the process of trying to form some sort of bottom. Very nice bounce on Friday. Look for hourly and 120 min pullbacks to buy. Aggressive traders can buy a partial position immediately. The daily chart is shown below - you can see the upturn in the oscillator - we're playing for continuation.
[This article was edited to change the date at the top. The title incorrectly said Monday Jan 25th instead of Monday Jan 26th]
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