Wednesday, October 11, 2006

Daily Calls: Oct. 12, 2006

The FOMC minutes and a small airplane crash in NYC gave bulls quite a scare, but they managed to recover most of loss. However, today's incident showed how jittery both bulls and bears are becoming.

1. AAPL: CTT between 70/71 (MA50) and 75/76 with tight stop, don't trade the mid of the range.

2. AMD: S1 on top, entry zone 24.7-25.25 with a stop just above 25.5.

3. CHAP: watch for new high above 39.54.

4. CTRP: consider L2 on bottom, entry zone 43-43.7 (MA200), CS=43.4, IDS=42.4

5. CVS: S1 on top, entry zone 31.8-32.5 (MA50), stop just above 33. MA200=30.8

6. NCTY: S1 on top, entry zone 22.9-23.5 (MA200), MA50=23.6, stop just above MA50., IT=21.

7. OS: Looking for a speculative small short position around 52 with a stop just above 54, IT=45.

8. SNDK: S1 on top, entry zone 59.3-59.8, stop just above 60, IT=55.

9. SONS: L2 on bottom, entry zone 4.71-4.91.

10. X: S2 on top entry zone 1 around 65, use 65.3 as stop, or around 66.5 use 67 as stop.

11. DNA: L3 on bottom, entry zone 81.4-83, stop around 81.

12. LRCX: reported Q1 in AH, handily beat estimates, traded as high as 51.5 with 50.8 as solid support, then came out a cautious outlook for Q2, sold down hard to as low as 46.6, and closed around 47.8 in AH. Key levels: 44.5, 45, 46, 46.6 (AH low), 47.8 (AH close), 48.12 (day close), 50.8, 51.5 (AH high).

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