Monday, April 07, 2008

Monday, Monday!

Well, the overbought pullback signals are pretty much here, but in the last several weeks, Tuesday has been bulls' favorite orgy day, you think it is gonna be different this time?

Evening Notes:

1. AAPL:
I feel it will pullback any day now to 140/145 to form a cup-n-handle, today's doji is the first sign of hesitation on the bulls part; both stochastic and RSI(2) deeply overbought; 60 min chart shows bearish divergence in money flow and momentum. For aggressive plays tomorrow, either short it when it fails to break today's high or when it open high but then breaks today's low. DT-IT around 150.

2. AKS and X
: they are very close to the 25% gain following the breakout, need to see the momentum stalled, but if there is a big gap up, especially for X, might consider a small initial position.

3. FSLR: pretty classic distribution today, but it is not done yet. I need another gap up, but no higher than 300!

4. MA: should've acted on my weekly call on it, if it opens high and then breaks 226 with some volume, could be a good short with stop just above 234, r/r not that good since IT might around 210. a bit too close to oversold on 60 min.

5. SPWR: dark-cloud cover! STP: the cloud is even darker! YGE: bearish-engulfing. so in conclusion, it might be the time to dip in if they gap up again.

6. WLT: acted on the weekly call, should touch MA10.

Now, only one thing can spoil the above setups, please, please no gap down tomorrow!


RazoR said...

Well its tuesday and we're not up 400 so I'll wait...think drys has more to go, holding crox for 25, will probably lose on solf...not feeling enough fear to short, but options are coming next week so calls will have to be destroyed...still mad I missed 40 pts on aapl.
Good luck on the short scalps, they don't come easy....
play of the year was buying calls on leh...

flyingwabbit said...

razor: I take your comments on short scalps to the heart even though they were meant for sw short. The buying-call on LEH's big down-day was probably the second best move to the buy-the-put on BSC before its collapse. congrats!