Long Picks For Wednesday

By: Scott Johnson Wednesday, November 05, 2008 10:50 AM

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Most of the best action continues to be in the commodities and energy. Investors are likely to continue to buy dips and breakouts in these sectors. While the following charts are more focused on stocks that are not yet too extended, I will also be looking intraday for stocks that are pulling back to support on low volume.

- SD was higher with volume yesterday, and looks like it may rally off of this base.

- KWK is an oil and gas company that is not yet overly extended. It looks to be breaking out of an area of congestion with good volume. I would look to start a position on a break over yesterday's high.

- ESV had big volume yesterday.

- CHK looks like it is trying to break out of this pennant.

- SLB was higher on increasing volume yesterday.

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