Thursday, November 09, 2006

Daily Calls, Friday Nov. 10, 2006

The market had a solid distribution day today and it was probably not the act of bears, rather it is the bulls, yes, there are just toooo many bulls right now and they are getting edgy because it is just too crowdy. A lot of stocks on my list formed pretty bearish candle formations today, but I decided not to establish any overnight short position because the bullishness is still very strong, and there can well be some rebound in the morning tomorrow before further possible slide.

1. ADI: DT-S1 on top, entry zone 31.9-32.3, stop just above 32.5, IT=MA50=30.8.

2. AKAM: DT-S1 on top,entry zone 49-50, stop just above 50. May also consider DT-L2 on pullback if it spikes down towards MA50=46.3, stop just below 45.5.

3. BIDU: DT-CTT between 93 and 98.5 use tight stops.

4. BRCM: DT-L2 on pullback, entry zone 30.5-31.4, stop just below 30.5.

5. ERTS: consider DT-L2 at the key support levels around 56.5, 55.3 use tight stops, I expect the gap be partially filled. Also, DT-S2 on top if it spikes towards 58.7 use 59 as stop.

6. LRCX: DT-CTT between 47 (MA50) and 50.75 use tight stops.

7. MRVL: SW-S1 on top, entry zone 18.6-19, stop just above 19, IT=17.

8. MU: S1 on rebound, entry zone 17.3-14, stop just above 14.15.

9. PCLN: L2 if it spikes towards MA50=37.5 use tight stops, what happend to a stellar Q3 report???

10. SONS: L1 if it spikes toward 4.4 use a tight stop. It closed below MA200=4.8 for the first time in over 2 months.

11. SNDA: reported Q3 in AH, beat estimates, traded mostly between 16.7 and 17.4. Key levels: 15, 15.3 (MA50), 16.1 (MA200), 16.48 (close) around 16.78 (old strong resistance), 17.4 (AH high), 17.84 (6 month high).

12. NVDA: reported Q3 in AH, beat estimates, traded mostly between 35.7 and 37.3. Key levels: 34.99 (day low), 35.29 (day close), 35.7 (AH low), 36.2 (day high), 37.3 (AH high).

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