Watchlist for 08/21/2007

It looks like most major stocks are stalled at resistance, so are the indices (DOW,MDY,SPY,Q's). The market is going to need some direction, an external stimulus. A Fed statement, a rate cut or direction from international markets. In this volatility, it may be important to check the international markets from last night to give direction.

Some of the oil services giants have interesting charts. Triple bottoms, retracements to prior resistance levels, etc. Check RIG, GSF. A couple showing converging triangle patterns. Check SLB and OII. Any move will be fast...

One item on my watch list is FL, a fundamentally bad stock... but technically oversold. I just also saw that it was upgraded by one of the financial firms. Lets see how that behaves.

One other stocks to watch is NTAP. Goodluck !