Daily Calls -- Tues Jan. 23, 2007

The selling in tech sector continued today, but NASDAQ bounced off its low near its MA50. A lot of charts point to more down side, but I will wait to see market reactions to the Q report from several big leaders later this week before commit myself in any direction.

1. AAPL: S2 on top if it spikes towards the resistance zone between 89-90, L2 at bottom near key support levels at 82 and 85 may also be considered. Bias is on the short side.

2. AMD: will report Jan. 23 AH, I suspect the bad news are baked in now (like MOT), and I may take a speculative long position (300 share, 0.4 stop) if it spikes down towards 17 (stop just below 16.8).

3. BIDU: L2 on pullback (100 share, $1 stop), if it spikes towards support zone between 120-121.5, IT=125.

4. COH: will report BMO on Jan 23. Consider CTT (300 share, 0.4 stop) between 42.7 (MA50) and 47 using tight stops, S3 on top if it spikes towards 50, with a stop just above 50. Speculative L3 near 40 or S3 near 50 can also be considered (100 share, $1 stop).

5. FMCN: L3 at bottom if it spikes towards support zone between 70-71, stop just below 69.9, IT=73.

6. NTAP: speculative L3 on bottom (200 share, 0.4 stop) if it spikes towards MA50=35.8 with a stop just below 35.5.

7. SHLD: SW-S3 on top (100 share, $1 stop), entry zone 180-181.5, stop just above 182, IT=173.

8. YHOO: will report Jan. 23 AH, Key S/R: 25, 26, 27.1 (MA50), 28.6 (MA200), 29.88 (recent high).