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Everyone has his or her own reason for trading. That's what makes the market so fascinating. A collective group of individuals, each with the power of independent thought (yet with a tendency toward herd mentality), push and pull on the same securities for different reasons.
People interpret news differently. Rarely is a significant market move attributable to a single news event. It happens -- and will likely happen as the war grinds to a conclusion. But don't count on being able to capitalize on the news for consistent profitability. Instead, use squiggly lines.
Today's charts include
Linens 'n Things
(LIN - Get Report),
(AET - Get Report).
Linens 'n Things
Linens 'n Things looks like a good short. Yes, it's at the bottom of its trend channel, which might lead to a bounce. If such a bounce occurs, then the prudent bear would wait for a better opportunity to short at higher prices. However, I think yesterday's close below a psychologically important $20 level could lead to further declines, especially if the broader market is weak.
There's no fooling around with Argosy Gaming. This stock had a heck of a run in March, but it got its comeuppance on April Fool's Day. Resistance is at $20, and Argosy needs some rest before pushing higher. I'd look for a pullback to around $17.50, with a stop just above $20. The relative strength index, or RSI, is resolving a 70+ reading by trading lower.
Unlike the rest of the market, Beckman Coulter hasn't been causing shareholders to lose sleep. It's just had a nice, steady uptrend for the past few months. Now, price has finally intersected with the declining 200-day moving average, and the battle is raging. At this point, it looks as if the bulls are going to push Beckman Coulter up above this critical bull-bear boundary line. I'd wait for another close above the 200-day moving average before taking stock. But any decline back into the trading channel (as long as it remains above the middle Bollinger Band) is just another opportunity to buy.