Daily Calls -- Thurs Jan. 11, 2007

The market was able to overcome early weakness, NASDAQ bulls are gaining strength as they pulled the SP500 and DOW along for the upside ride. For the first time in weeks, I actually feel a bit of bullishness as I see NASDAQ is poised to test its Nov'06 high in next few days. I decided not to act on any SW short-on-top setups today, and I will be very cautious on such setups in the coming days unless NASDAQ convincingly fails yet another test of the top.

1. AAPL: L2 on pullback (300 share, $0.4 stop) if it spikes towards 96 use 95.7 as stop, IT=99.

2. AKAM: DT-L3 on top (300 share, $0.3 stop) if it spikes towards 55 with a stop just above, IT=52.

3. BIDU: L2 on pullback (200 share, $0.5 stop) if it spikes towards 125 with a stop just below, IT=130.

4. ESRX: speculative SW-L3 on bottom (200 share) if it spikes down on market weakness, IT=66, entry zone1=62.5-63.1, stop just below 62 (PL=$150, $0.6 stop, RSK/RWD=1:5); entry zone 2=63.8-64.1, stop just below 63.8 (PL=$130, $0.6 stop; RSK/RWD=1:4).

5. JCG: Speculative DT-L3 on bottom (300 share, $0.4 stop) if it spikes towards 35.3 with a stop just below 35, IT=36.5.

6. RIMM: DT-S2 on top (200 share, $0.6 stop) if it spikes towards 140 with a stop just above, IT=134.

7. SNDK: L1 on bottom (500 share, $0.3 stop). if it spikes towards 45 with a stop just below, IT=46.5.

8. SONS: L1 on bottom (1000 share, $0.1 stop) if it spikes towards 6.9 on market weakness, stop just below 6.88, IT=7.4.

9. X: DT-L1 on bottom (400 share, $0.6 stop, RSK/RWD=1:3) if it spikes towards 69.5 with a stop just below 69, IT=71.