Daily calls Nov. 15, 2006

The sudden and sizeable jump in all major indices late this afternoon completely surprised me, which obviously indicates that my assessment of the short-term market movement is flawed. Even if it is largely a technical move after SP500 broke into new high, the lack of selling shows the strength of the bulls. I need to learn how to take the advantage of the current trend, fighting against this trend at any level, shape or scale becomes a very risky business.

1. AEOS: DT-L1 if it spikes down towards 47, stop around 46.8. However, consider building short position on top in the range between 48 and 50 with a stop just above 50.

2. BIDU: DT-L2 if it spikes down towards 98.5, stop just below 98.

3. CHAP: SW-S1 on top, entry zone 42-43, stop around 43.3.

4. ERTS: DT-CTT between 57 and 58.8 use tight stops.

5. ESRX: DT-S1 on top around MA50=70.1 or MA200=74.2 use tight stops.

6. FFIV: DT-S1 on top, entry zone 73-74, stop just above 74, IT=69.6.

7. LRCX: DT-L2 if it spikes down towards 53.3, stop just below 53.

8. MU: consider DT-S1 if it spikes towards MA50=15.3, MA200=15.4, stop just above 15.5, IT=14.5.

9. OS: DT-S1 if it spikes towards 59, use 59.1 as stop, IT=55.

10. SNDK: DT-S1 on top if it spikes towards 48/48.8, use very tight stops.

11. UNH: SW-S1 on top, entry zone 48-48.9 (MA50), stop just above 49.

Earning Plays:

1. ANF: reported Q3 in AH, beat the estimates, but outlook not raised, traded mostly between 72.7 to 75, and closed around 73.7, with AH resistance around 74.25. Key levels: 69, 70.82, 72 (MA50), 74.29 (day low and AH resistance), 75, 76.6 (close), 77.

2. ADI: reported Q3, profit beat, rev met, and raised guidance of current Q, traded mostly between 34.7 and 35.2. Key levels: 32.8 (MA200), 33.03 (close), 33.5, 34.7 (AH support), 35.2 (AH resistance), around 36.5.