Swing trade calls -- July 1, 2007

On the market:

There are plenty of signals that the bulls are losing strength, however, the major indices need to break its June low before bears can claim any upper hands. I still feel that the kick-off of Q2 report season will have a decisive impact on the intermediate term trend of major indices. Until that happens, play counter-trend trading near key S/R levels will have the best RSK/RWD ratio.

1. AAPL: Monday's market reaction to its iPhone IPO weekend may signal its near-term trend, go long if it breaks 126/127.61 with a stop just below 124/125, and consider short it it breaks/closes below 119/115, with IT around 104. MA50=113.4.

2. ADBE: S1, entry zone=41-42(MA50), stop just above 42, IT=37.5.

3. BBY: S1, entry zone=47.3-47.8, stop just above 48, or 48.4-48.9(EMA200), stop just above 49., IT=45.5.

4. BOBJ: S2, entry zone=39.7-40.8, stop just above 41, TI=EMA200=37,

5. COH: S1, entry zone=48.7-50, stop just above 50, or if it breaks/closes below 46, IT=42.

6. LRCX: S1 when it breaks/closes below 50.6 with a bearish candle, stop just above 51, IT=EMA200=49.3, may consider S1 on top if it spikes towards 55, with a stop just above 55.

7. MRVL: L1, entry zone=17.2-18, stop just below 17, IT=19.5.

8. NUE: S1, entry zone=60-62, stop just above 62, IT=53.

9. SNDA: L1, entry zone=28.6-30.1, stop just below 27.5,

10. X: S3 (possibly in early trend reversal stage, patient and scaled entry), entry zone=113-117.5, stop just above 118, IT=100