Tuesday, March 13, 2007

Daily Calls -- Weds March 16, 2007

Well, turns out that bears found the catalyst first and bulls were looking for their broken teeth everywhere. Tomorrow will be crucial for both bears and bulls as the major indices are poised to test the recent low. A close below those lows could triger even bigger sell-off in the days to follow, a successful test of those lows, on the other hand, will definitely buy bulls some time to regroup.

1. AAPL: DT-L2 on bottom with a stop just below 87.4, IT-90.

2. ICE: Either S1 on top use EMA50=135.2 as stop reference or when it breaks 127, IT=123.

3. SNDK: L1 on bottom if it spikes towards 39 with a stop just below 38.8, IT=42.

4. SONS: DT-CTT between 6.8 and 7.3 use tight stops, don't trade the mid range.

5. Most of the stocks on my list are the candidates for the short-on-top setups if they spikes towards the high ends of today's ranges.

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