Tuesday, January 23, 2007

Daily Calls -- Weds Jan 24, 2007

Bulls and bears battled out in NASDAQ today, and it was nearly a draw by the end of session. Daily charts for all major indices suggest a halt of the sell off, and I suspect market will attempt another rebound tomorrow with the aid of favorable AH reaction to YHOO Q report. I am interested to know if big boys will sell into strength in the final hours like they did today. Trading against major S/R is probably the safest strategy right now.

1. AAPL: L3 with a stop just below 85.5, if that support is broken, look for next support zone between around 82. May also consider S3 on top if it spikes towards immediate resistance zone between 89.5 and 90.

2. AMD: CTT between 16.2 and 17.7 with tight stops. Reported Q4 in AH, traded between 16.2 and 16.86 with solid AH support around 18.5.

3. BIDU: Consider speculative S3 on top if it spikes towards 130/134 use very tight stops. Go long immediately after it breaks 127 may also considered.

4. NTAP: S2 on top if it spikes towards MA50=38.8 with a stop just above 39.

5. SNDK: L2 if it breaks 42.9 with a stop just below 42.7, IT=44.4.

6. UNH: speculative L3 at bottom (100 share IE, 300 FP) if it spikes towards MA200=50.5, stop just below 50, IT=52.

7. VRTX: L3 at bottom, entry zone 35.7-36.3 (200 IE, 400 FP), stop just below 35.6, IT=MA50=38.2.

8. WLT: L3 at bottom, entry zone 26.5-27.1, stop just below 26.5, IT=28.

9. YHOO: Consider L3 with a stop just below 28 or 28.5 if it gaps above 28.7 in AM, IT=30. Reported Q4 in AH, drop hard to 26.2 before reversing to the upside with solid AH support above 28, and resistance around MA200=28.6. key resistance around 29.5.

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