Saturday, September 23, 2006

Weekly Calls Sept. 25-29

I have just spent some time to "grade" my previous trading calls, and will post the stats soon. Basically, I want to have a good idea regarding the quality and reliablity of my trading calls.

Starting this week, I will conscienously reduce the number of trading call as an effort to eliminiate unnecessary or technically less-than-sound trading calls. Doing so obviously will result in some missing opportunities, but that will be greatly offset by the reduction in risk and unwanted frustrations out of fertile efforts.

On the market:

Two day drop may have put the bulls on defense, but the near-term trend is still up solidly. At this stage, it is not a good time for either bulls or bears to initiate new positions. For bulls, NASDAQ support around 2200 and then MA200=2180 are crucial. For bears, short the rebound might give a better risk/reward ratio as long as the indices stay below the pevoius hights. Overall, the risk of next week is probably on the down side as multiple indicators suggesting a further pullback from the top before the uptrend can be resumed.

1. AAPL: L2 on pullback, entry zone 69-71, stop 68.5, IT=75

2. ADI: S2 on top, entry zone 31-31.5, stop 32, IT=28.5

3. AEOS: L2 on pullback, entry zone 42-42.5, stop 41.8, IT=45

4. AKAM: L2 on pullback, entry zone 42-43, stop, 41.9, IT=48

5. AMD: L3 on pullback, entry zone 25-25.8, stop=MA50=24.7, IT=27.5

6. ANF: L3 on pullback, entry zone around 67, stop 65.5, IT=71

7. BIDU: CTT between 82 and 92 with tight stop,

8. COST: S2 on top, entry zone 52-52.5 with a tight stop just above 52.5, IT=48.5

9. CTRP: L2 on pullback around MA200=43.3, CS=43, IDS=42, It=50

10. DVN: L3 on pullback as it approaches 59 or even 57, with a tight stop, IT=64.

11. ENER: L3 on pullback as it approaches 32, stop around 31.5, IT=35

12. ESRX: S1 on top around 81.5, stop just above 82, IT=MA200=76.7

13. MEDX: L3 on bottom near 10, stop at 9.88, IT=11

14. MU: S2 on top around 18, stop around 18.7, ITaround MA50=16.8

15. NCTY: S1 on top around 25, stop at 26.2, IT=21

16. NTES: S1 on top when it approaches 16.5, stop around 17, IT=14. strong support around 15

17. NVDA: L1 on bottom around 28, stop around 27.5, IT=31.

18. RIMM: L2 on bottom when it approaches 83.5 stop at 83, It=89.

19. SNDK: L2 on bottom when it approaches MA50=53.6, stop around MA200=52.6, IT=58.

20. SONS: L1 on bottom around 5.05, CS=4.95, IT=5.68. Key resistance at 5.5 and strong support around 5.02.

21. TIBX: L2 on bottom around 8.5 with a stop just below 8.4, IT=9.2

22. UNH: S1 on top when it approaches MA200=50.7, CS=51, IDS=52, IT=47

23. URBN: L2 on bottom around 17.5, stop just below 17, IT=19.

24. X: S1 on top when it approaches 59.25, stop 60.8, IT=53.


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