Daily Calls -- Sept. 8, 2006

Up till 1:50 PM, I thought the bulls were going to recover, but it went down hill since. As the second day of deline, today's volume increased noticibly over yesterday. However, bulls were far from giving up here, and I expect they continue to fight. Even though the market is unlike to go straight down here, I believe that the short-term top is in, the question now is how low will NASDAQ go? I see a good support zone between 2115 to 2136. My overall short bias is on the short side, however, short on top approach is preferred to reduce the risk.

1. AAPL: L2 on pullback use 71.5 as stop, no chase, watch if it can break the resistance zone between 73.5-73.8

@@ Grade: B

2. ADBE: S2 on top around 32.25, CS=32.7, IDS=33, IT=29.

@@ B

3. AMZN: S2 on top around MA50=30.5, CS=30.64, IDS=31, IT=29.

@@ F

4. BRCM: S2 on top only when it approaches 27.4, CS=MA50=28.4, IT=25. OR L3 on bottom when it approaches 25 use 24.7 as stop, IT=28. It closes just above the key support around 26.2.

@@ C

5. CHRW: S2 on top as it approaches 45, CS=45.5, IDS=MA50=46.3, IT=42. It closed barely above MA200=43.7.

@@ C

6. ELN: L2 on bottom as it approaches 15, CS=15, IDS=MA200=14.6, IT=16.5. Watch key support around 15.5 (also MA50).

@@ B

7. MOT: may consider S3 on top around 23.5, CS=23.9, IDS=24.2, IT=21.8

@@ E

8. NTAP: S2 on top around 33.9, CS=34.25, IDS=34.82, IT=32.

@@ E

9. QCOM: S2 on top around 37.5, CS=38, IDS=38.5, IT=35.5

@@ B

10. RHAT: S2 on top around 23.2, CS=23.5, IDS=24, IT=21.8

@@ B

11. SNDK: S2 on top only when it enters 56.3-57.3 zone use 57.6 as stop, IT=MA200=52.

@@ E

12. TXN: S1 on top when it approaches 31, CS=31, IDS=31.3.

@@ F

13. WLT: S2 on top when it approaches MA200=53.7, CS=54, IDS=55.7.

@@ C