Wednesday, September 27, 2006

Daily Calls Sept. 28, 2007

The market rallied early but almost closed in red by the end of the day. DOW seems determined to high all time high, but the tech sector did not lend a helping hand. At this point, bulls are tired to say the least, and I am not sure how much end-of-quarter-window-dressing buying still left to go. Long at this stage, especially on the break-outs, carries very poor risk/reward ratio, and short-on-top, if done with patience and proper risk-control, could provide a good short-term profit should the market pulls back in early Oct.

1. AAPL: S3 on top, entry zone 76.6-77.3, stop 77.5-77.8, IT=74.5; may also consider L2 on bottom, entry zone 73.8-74.5, stop around 73.7.

2. AKAM: consider CTT between 45.5 and 49.5 with very tight stop.

3. AMD: S2 on top, entry zone 25.8-26.5, stop 26.8-27; IT=24.51

4. BIDU: L2 on pullback when it approaches 85/82, use small size!

5. CHAP: S1 on top when ti approaches MA50=35.4, stop 36.2.

6. DVN: S2 on top when it approaches MA50=62.9, entry zone 62.9-64.5, stop around 65, be patient. IT=59.

7. ESRX: S1 on top when it appoaches 78, CS=78.5, IDS=MA50=79.9. MA200=76.7. If it breaks 76.4 or closes below that, it may test 73-75.

8. SONS: CTT between 5.03 and 5.5.

9. X: S1 on top, entry zone 59-59.8, stop 60-60.8,

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