Thursday, January 11, 2007

Daily Calls -- Friday Jan. 12, 2007

The NASDAQ bulls finally came through today, driving NASDAQ and DOW to new highs. The technical significance of NASDAQ breaking 2 month trading range AND leading other indices are obvious, even though you want to see some kind of follow through in the next few days to confirm the break out. Yes, there were some selling on the top for many stocks in the afternoon, yes, some break-outs came in light volumes, yes, the semis did not show up today, however, unless big boys change their minds and systematically sell into the strength, I see another leg up in coming days until the earning season comes in full force. I will try to avoid any short play in the next few days.

1. AAPL: L1 on bottom (300 share, $0.4 stop) if it spikes towards 93/95 use very tight stop, don't trade any mid range, IT=97.

2. ANF: Speculative SW-S3 on top (100 share, $1 stop) when it approaches 79, stop just above 80, IT=MA50=71.1.

3. BIDU: CTT between 126.5 and 134 (100 share, $1 stop), don't trade the mid range.

4. DVN: Speculative long at bottom plays (200 share, $0.4 stop)) if it spikes towards 61/63 use tight stops, IT==66.

5. ENER: S1 on top (300 share, $0.4 stop) when it spikes towards MA50=35.8 with stop just above 36. Key resistance also around 35.

6. MEDX: L1 on pullback (500 share, $0.25 stop), entry zone 13.6-14.01 (consider 13.91), IDS just below 13.6, IT=15, MA50=13.9.

7. UNH: L1 on bottom (300 share, $0.6 stop) if it spikes towards 53.5 with stop just below 53,

8. X: L1 on bottom (300 share, $0.4 stop) if it spikes towards 71 use MA50=70.9 as stop reference, IT=73.

9. SNDK: SW-speculative L1 on bottom (300 share, $0.4 stop) if it spikes towards 41 with a stop just below it, IT=MA50=45.5.

1 comment:

Bubs said...

I have a good feeling its going to be Saints vs Bears in the NFC championship game. As long as Rex doesn't turn the ball over the Bears will be fine. I will definately keep you updated on the Tradestation platform. Hopefully your Ameritrade "Strategy Desk" works out well for you.