The market had a good day, as a jump in durable goods orders offered some relief. But as expected, volume was very low today, as it will be all this week leading into the Labor Day holiday. Oil also moved higher, as Hurricane Gustav threatens platforms in the Gulf of Mexico.

There was a trigger from the Watchlist, and it actually held on to its gains, offering a nice gain for day traders. The chart actually looks pretty good, and could continue moving higher.

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One recent trigger is consolidating right now after making a nice move. ENER could break some resistance around 80, and test new highs soon.

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With the low volume we are seeing lately, especially this week, buying breakouts is risky, as they are often sold into. This is why heavy volume should be used as confirmation. So until we see more volume come into the market, I plan to stick with day trades, if I trade at all.

Trade Ideas for 08/28/08:

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Good luck and good trading!