Big boys mostly continue to sit tight (though once again there were some serious sell-into-strength going on in SPY for the second day in a roll), while retailer bulls are momo-traders are having their day in the sun for sure. Some random thoughts:
** AAPL: looks like it may really hit 175 before the ER, and if it does happen, it will be tempting to take a put against the ER.
** AIG: might be a good short here, every time when it has a bearish-engulfing candle at the tops, it goes down for 10% or more, think the tide has turned now it has broken the down-trend channel?
** BIDU: If it hits 380/400 before ER, you got to take a shot with a put here.
** CF: over 50% rise in 3 weeks? I am curious what kind of ER surprise it needs in order not to have a post-ER sell-on-news?
** CME: It will either hit 480 or 580 after tomorrow's ER, my guessing...
** COIN: used to be a momo darling, and has been acting very poorly lately, another oversold rebound maybe around the corner, but short near MA50 might be a good play.
** WLT: a busted call on me, lesson? when the market gets this bullish, no topping signs are reliable, and that's why you would need a stop!
Monday, April 21, 2008
(Minor league?) bulls marching on!
Posted by flyingwabbit at 4/21/2008 09:49:00 PM
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