Thursday, October 05, 2006

Daily calls -- Oct 6, 2006

No pullback by the close, and even NASDAQ is marching towards its spring peak around 2380, except the overbought conditions, can bears find anything to be bearish about? We are looking at a nearly 3-month long rally with no significant pullback here, how much longer can it keep it up? Will tomorrow’s Sept. employment report end the bulls’ party?

  1. AEOS: CTT between 42/34 and 46.8 use tight stops.
  1. CHAP: Keep eyes on resistance levels around 38.2, 39.2 and 39.59 (recent high), and support around 36.8
  1. CHRW: S1 on top, entry zone 46.5-47.5, stop just above 48.
  1. COH: key eyes on it as it approaching key resistance zone between 36.8-37.4.
  1. COST: S2 on top, entry zone 51.8-52.5, stop just above 52.6.
  1. CVS: S1 on top, entry zone 31.5-33, stop just above 33=MA50.
  1. DVN: S1 on top if it approaches 65, stop just above 65.
  1. ESRX: S1 on top when it approaches 80, stop at 80.5.
  1. IDEV: S2 on top just below 6.15, CS=6.16, IDS=6.51
  1. NTES: S2 on top just below 17.25, CS=MA50=17.4, IDS=18
  1. OS: S1 on top, entry zone 49.5-51, stop 52
  1. QCOM: S1 on top as it approaches MA50=37.4, CS=37.5
  1. X: S2 on top, entry zone 62-64, stop 65.

1 comment:

shortswings said...


From your calls, I guess that you are expecting a pullback. In Fact, after three straight days rally, It is natural that most set-up for day-trade would be short-on-top. I agree with your calls. Be sure to use smaller than usual size with tight stops.

Good luck with your trading tomorrow.