Thursday, March 01, 2007

Daily Calls March 2, Friday, 2007

I would be hard-pressed to say that today is a follow-through day for the bears. Bears are piling up, but bulls showed that they are far from done. However, the burdens are now on the bulls to prove that they still have enough left to take the market higher, and the time is not on their side.

1. AAPL: L2 on pullback use EMA50=86.2 as stop reference.

2. ESRX: L2 on the bottom if it spikes towards the key support level around 72.7 (EMA200 and EMA50), IT=78.

3. BOBJ: SW-S1 on top, entry zone=35.75-37.8(EMA50), stop just above 38. Be patient as it might rebound more.

4. SONS: DT-CTT bewtween 7/EMA50=7.2 and 7.6/7.8.

5. PETM: DT-L1 on bottom if it spikes towards 29, stop just below 28.5, EMA200=28.7, IT=EMA50=30.7.

6. DELL: reported Q4 in AH, traded between 22.5 and 23.9 but mostly between 22.5 and 22.8. Key S/R: 20.5, 21, 22, 22.5 (AH low), 23.42 (today's high), 23.9 (AH high), EMA50=24.4, EMA200=25.2.

7. OVTI: reported Q4 in AH, traded between between 12.1 and 13.55, but mostly between 12.2 and 12.6. Key S/R: 11 (recent 1 yr low), 12-12.25, 13.1 (EMA50), 13.5, 14.

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