Thursday, June 07, 2007

Another dip before new high?

My answer to that question is NO for at least 3 months, why? because the 10 yr bond yield surged across the key 5% and closed at 5.1% today. Do I expect a rebound as the major indices approaching their key support zone near EMA50? very much so and I am looking for some buys. The bottom line is that the overall uptrend is yet to be reversed, but the precipitous drop of the major indices this week could signal the beginning of the end of the 10 month long strong up trend.

I will not be eager to establish swing shorts at this stage. I will be very patient for entering the long positions and will also cut the hold period for the long positions.

1. ADBE: L2, entry zone=41-42.2, stop just below 40.6, IT=43.2

2. BIDU: L2, entry zone=127-134, stop just below 127, IT=140.

3. CHAP: S3 on top, entry zone=70.5-71.2, stop just above 72, IT=65.

4. COH: S3 on top, entry zone=48.8-49.4, IDS just above 50, CS just above 49.5.

5. CRM: L2, entry zone=42.2-43.7, stop just below 42, IT=46.5

6. ESRX: L2 on bottom if it spikes towards 93.7, IDS just below 92, CS when closes below 93.7 with a bearish candle, IT=100.

7. LRCX: L2 if it spikes towards 49, stop just below 48.7, IT=52.

8. NUE: Quick L2 flip if it spikes to 60 or 63 with a very tight stop.

9. RACK: L1, entry zone=12.3-12.7, IT=13.6, stop around 12.

10. SINA: L1 when it spikes towards 36.5, IDS just below 36, CS just below EMA50 with a bearish candle.

11. SNDA: L2, entry zone=25.4-26, IT=28, stop just below 25.

12. SONS: L1 if it spikes towards 8.1, stop just below 8, IT=9.

13. TIF: Quick L2 flip if it spikes towards 47.7, IDS just below 47, IT=51

14. WLT: Quick L1 flip if it spikes towards 28, stop just below 27.5.

15. ARO: consider quick L2 flip if it spikes towards EMA50=43.5 or 42.5 use very tight stops.

16. USU: L2, entry zone 20.4-21.1, stop just below 20, IT=23

17. SGR: L1,if it spikes towards 36, use EMA50 as CS stop reference, IT=40.

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