Thursday, September 21, 2006

Daily Calls -- Sept. 22, 2006

Well, the market acted pretty much like I suspected, the bears came out pretty strong while the bulls showed some weakness. Today's action put a bearish engulfing candle on major indices and a lot of stocks, if another strong follow-through down day occurs within next 1-5 days, we are possibly looking at double top for SP500, DOW and many stocks. At this stage, I expect bulls to fight back before giving up, so it is likely to be choppy in the next few days.

1. AEOS: S1 on top around 43.8, CS=44, IDS=44.6, IT=42.

@@ E

2. ANF: S1 on top around 70, CS=70, IDS=71, IT=67

@@ C

3. COST: S1 on top around 51-51.4 (MA200), CS=51.4, IDS=52.5.

@@ C

4. DVN: CTT between 65 and 59, MA200=60.4

@@ B

5. ESRX: S1 on top when it approaches 83, CS=83.25, IDS=83.6

@@ C

6. MRVL: S1 on top around 20, CS=20, IDS=20.5

@@ C

7. SUBX: S1 on top around 34.5, CS=34.5, IDS=35

@@ B

8. SONS: L1 on pullback only in 5.2-5.3 region with a stop just below 5.15. If the market falls dramatically, look for entry between 5.02-5.15 with a stop just below 4.95.

@@ B

9. XRTX: L1 on pullback use 19.5 as stop, IT=20.5-21.

@@ F

10. COGN: earning play, reported in AH, beat and raised guidance, traded between 31.7 and 34.9, but mostly between 32.81 and 34.3 and closed around 34.7. Key levels: 32.5, 32.8, 33.2(MA200), 34.14, 34.3, 34.9 (AH and recent high), 35.5, 37.


No comments: