Tuesday, March 06, 2007

Daily Calls -- Weds March 7, 2007

Bulls had a good bounce today, which came in lower volume. The short-term oversold bounce may continue another day or two, or even three if this Friday's Feb employment report favors the bulls, in which case, we may see a lot of stocks testing their EMA50, but I suspect that would be a good-bye kiss before the market resumes the downward motion. If you did not get in today, you might have missed the major part of the rebound. For me, I will focus on the short-on-top setups in the coming days.

1. AEOS: Wait for its Q1 report in AH. Consider S1 on top if it spikes towards 31 use EMA50=31.5 as stop reference, IT=EMA200=28.3

2. BIDU: DT-S2 on top if it spikes towards 108 with a stop just above.

3. FMCN: speculative S2 on top if it spikes towards 79 with a stop just above, EMA50=77.

4. GOOG: S1 on top, entry zone=464-468, stop just above 470, IT=440.

5. NUE: S1 on top if it spikes towards 61.8/63 use tight stops, IT=58.

6.NVDA: S1 on top if it spikes towards 32.5 use EMA50=32.8 as stop reference.

7. SONS: S1 on top, entry zone 7.06-7.29, CS=EMA50=7.2, IDS just above 7.3.


Bubs said...

Thanks for the comments on the blog. Just wondering if you traded any of your calls today?

flyingwabbit said...

Bubs: I acted on my SONS short call when it spiked to $7 early in the session, shorted at 6.98 and covered shortly after at 6.81, too bad that I did not go long when it broke out of a tight consolidation near 1:30 pm or re-enter short just below 7.1 later in the session (I canceled my short order at 7.08 the last second). I also shorted AAPL at 87.69 and covered at 87.51 around 10:15 am, which kind of against my plan of not trading the mid-range, but I was just attempted by the chart-pattern...