Daily Calls -- Friday, March 16, 2007

The overall volumes dropped significantly today as both bears and bulls slowed down to catch up their breath and position for tomorrow's quadruple option expiration day. Unlike others, I doubt tomorrow will be a very wild trading session, except for the first 30 min or so. I think bulls and bears are entering a "draw" stage and neither party is going to back down much. The material news that could change the deadlock won't come till next week at the earliest. It is probably a good time to take a little break.

1. AAPL: if the volume is light like today, CTT between 88/89 and 90.4 use tight stops.

2. ICE: S1 on top if it spikes towards 133/136 use tight stops, EMA50=134.8.

3. ARO: reported Q1 in AH, traded mostly between 38.8 and 39.74. Key S/R: EMA50=36.1, 37, 38.69 (day close), 39.35 (recently made 52-wk high).

4. SONS: DT-S1 on top if it spikes towards 7.8 with a stop just above.