Monday, October 30, 2006

Daily Calls: Oct 31, 2006

As expected, the bulls are far from being scared. Today's action puts everything in a delicate balance, and I see at least another day like this tomorrow as the fiscal year for many large funds comes to the end.

Same calls as the weekly ones for: COST, SONS, TXN, AAPL, ENER,
1. AKAM: CTT between 42 and 48. it closed just below MA50 for first time since August, if market goes down, it could easily test 42/44. Be patient with any bottom fishing.

2. BRCM: consider S2 on top when it approaches MA200=31.3, entry zone 31.1-31.7, stop just above 31.8, IT=29.5.

3. LRCX: S2 on top, entry zone 50.3-51.2, stop just above 51.51

4. AMZN: DT-L1 when it breaks 38.5, ST=38.2, IT=40. DT-L1-on bottom, entry zone 37.7-38.1, stop just below 37.6.

5. RACK: reported Q3 in AH., beat estimates, traded mostly between 29.4-31.6. Key levels: 28.6 (MA50), 29.5 (MA200), 31.6 (AH resistance), 32, 34.2. short interests just hit 52 wk high (over 21%).

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