Bargain hunters may be attracted by the fact that Goldman Sachs (GS) has not been this cheap since late 2005 and is now about fifty percent below its all-time highs registered last fall.

One exchange traded fund that Clive Corcoran feels is worth considering in the real estate sector is RWR, which tracks a number of REITs. This fund broke below a key uptrend line yesterday and looks set to return to the $60 level at least.

Clive Corcoran writes that the unwinding of leverage and the fallout from the collapse of all of those dodgy derivatives still has some pain to inflict on Wall Street.

The Ultra Short funds have been very rewarding recently, and the price and volume action in SJF, which is an inverse leveraged play on the Russell 1000 Value index, suggests that some sizable bearish bets are being made here.

The chart for the Russell 2000 (^RUT) is changing its complexion. The failure to reach back towards 760 and three closes below the 720 level in the last week is suggesting that the previous enthusiasm from fund managers for small caps is waning.

The exchange traded fund for US homebuilders, XHB, registered a very striking doji star formation yesterday.

Quanex (NX) looks promising on the long side.

If he sees continued weakness in the tech sector, a failure by the Russell 2000 to take on the 760 level, and a break through the VIX channel at the 200-day EMA, this would move Clive Corcoran away from his intermediate-term positive bias.

Many charts for energy-related sector funds are breaking below key levels.

The chart for the Ultra Short Semiconductor fund, SSG, reveals recent accumulation as some traders are counting on further weakness in the sector.