Daily Update 5/12/06

YI: +3

Trying to bottom out here: MDT
Moderately oversold at this point: MSO
Trying to hold some rising trend line support: AHO, AMN, ASA, DJ, EWG, EWJ, EWQ, HPQ, INTC, MOT, MU, NLY, NTES, NWL, and QCOM
Trying to hold some falling trend line support: EMC, JNPR, SMTC, VZ, WOR, and XMSR
Attempting to hold the 28 DMA here: The DRG index, GE, INTU, RADN, and TMO
To no position for now: MDC
Trying to break above some falling trend line resistance at this point is: ACAS
Now up against some rising trend line resistance: ERF, FXE, and KGC
Moderately overbought now: CLG, REDF, and WMB
Standard overbought at this point: AU, CMI, CUP, EWP, GM, NEM, and the XNG index.
A possible top may be forming in this area for OXY and PCU
To a sell: The XAU hourly at 11 AM yesterday, and TIE
Anything posted here may be off base.