Monday, October 02, 2006

Daily Calls -- Oct.2, 2006

Bulls showed signs of exhaustion today, bears just watched for the most part. NASDAQ seems to assert its trend-leading role, this time may be on the way down. Mid-cap (MDY) and small cap (IWM) were even weaker. While bulls yet to get jettery, the daily charts clearly suggest more down side move in the near future.

1. AAPL: CTT between 70 (MA50) and 76 with tight stop.

2. AEOS: S2 on top, entry zone 44.9-45.3, CS=45.3, IDS=45.8, IT=43. It acted stronger than I expected today. BE careful of the SSS number, to be released in Wed AH.

3. BIDU: L2 on bottom, entry zone 82.2-83.8, stop just below 82, IT=88, MA50=82.2.

4. BRCM: L3 on bottom, entry zone 28.5-28.8 (MA50=28.7), stop just below 28.5, IT=31.2. Dropped over 3% to around 29.7 in AH, probably in sync of MRVL's AH Q warning.

4. CHAP: S2 on top, entry zone 34.8-35.2 (MA50), stop 35.6, IT=33.

5. DVN: S2 on top, entry zone1=62.8-63.3, stop 63.51, OR zone2=63.6-64.8, stop 64.01.

6. ENER: L3 on bottom, entry zone1=34.7-35.5, stop just below 34.7, zone2=33.4-34, stop just below 33.3.

7. IDEV: S1 on top, entry zone=5.7-5.95, stop just above 6, IT=MA200=5.3

8. MRVL: S1 on top, entry zone 15.8-16.7, stop around 17.3. Warning Q3 in AH, traded heavily mostly between 16.7 and 15.6, closed around 15.8. There is no support below 16.7, it is a breaking-down case.

9. NVDA: L3 on bottom, entry zone 27.2 (MA50) to 27.6, IT=29.5

10. RIMM: S3 on top when it approaches 102, stop at 103,

11. SONS: L2 on bottom, entry zone 4.9-5.05, day trading IT=5.24, stop just below 4.9.

12. XRTX: L2 on bottom, entry zone 18-18.5, stop 17.5.

13. WFMI: CTT between 56 and 61 with tight stop. MA50=57.1

14. COGN: L2 on bottom, entry zone 34.8-35.5, stop just below 34. IT=37.

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