Daily calls Tuesday 19, 2006

The market gapped up in the morning, but once again was systematically sold down and closed in red by the end. The bearish action was particularly evident in NASDAQ, which failed to break the Nov. high last week and now seemingly leading the way down. Looking at the mini-breaking down of some leading tech names (AAPL, GOOG), I start to doubt if the NASDAQ can hold steady before Jan. 2, 2007, let along rise above its Nov high.

1. AAPL: CTT between MA10 (84) and MA50 (88), also consider S2 on top when it approach key resistance around 87. The bias is on the short side. If it breaks down MA50, it will test next support around 82.4.

2. ADBE: S2 on top if it spikes towards 42, stop just above 42.3. May conisder L2 on bottom if it spikes towards MA10=40.6 or MA50=39.2.

2. AKAM: L2 on bottom if it spikes towards 53, stop just below 52.7. MA10=53.9.

3. AMZN: L3 on bottom if it spikes towards MA50=38, stop just below 37.7.

4. BIDU: CTT when it approaches key S/R levels, 110, 111, 116, 119.5, 121, 123, 125.

5. CRM: consider S1 if it breaks key support around 37.6, IT=35, stop around 39.1 (both MA10 and MA50). May also consider S2 on top if it spikes towards 39, use MA50 as stop references.

6. DVN: L2 on bottom, entry point 1=around 67.3, stop just below 67; entry point 2= just above 65, stop just below 65.

7. ESRX: L2 on bottom, entry zone 68-69.5, stop just below 68, IT=73.1. MA10=69.2, MA50=69.4.

8. GOOG: S1 on top, entry zone 1=465-468.2 (MA50), entry zone 2=4.72-4.77. It sure looks like breaking down.

9. MDRX: L1 on bottom if it spikes towards MA50=25.9, stop just below it, IT=28.2.

10. MEDX: L1 on bottom if it spikes towards 13.75, stop just below MA50=13.4, IT=16.

11. NTRI: speculative L3 on bottom if it spikes towards 59.6, stop just below 59, further support around MA200=56.8.

12. RACK: S2 on top if it spikes towards 32.2/33.6 use tight stops.

13. RIMM: L2 on bottom, entry zone 127-129, stop just below 127.

14. SONS: speculative S2 on top if it spikes towards 7, stop just above 7.01. Consider L1 on bottom if it spikes towards MA10=6.6 and 6.4, use tight stops.

15. STP: L1 on bottom, entry zone 1=33-33.5, stop just below 32.8; entry zone 2=31.5-32.4, stop just below MA10=31.5. IT=37.

16. X: L3 on bottom if it spikes towards MA50=70.2, stop just below 70.

17. SNDK: DT-L2 on bottom, entry zone 43-43.5, stop just below 43.