IBM behaved well, even MER did well, but bulls barely moved today, and the overall volumes, oh well. If, with over 17% jump of GOOG in AH following its ER, bulls still could not muster a serious challenge of the key R zone tomorrow, what else could power the major indices through the ceiling? Tomorrow is option exp day, wonder what will be destroyed the most, calls or puts? Some random thoughts below:
** AAPL: a break/close above 160 would complete the "cup-n-handle" formation, but the overall volumes of the ongoing 4-day winning streak have been light, DT-S2 if it spikes at the open using 160 as stop reference might be worth a try, but be quick at taking profits.
** GOOG: tomorrow's post-ER huge gap will be filled, but that probably won't happen before it touches 600/620 first.
** ISRG: probably worth a shot from the short side if it spikes towards 330/340 in the early going, or more conservatively, when it closes below MA50/300 near the close with a bearish candle, IT=MA200.
** SPWR, STP, and to the less extent FSLR: worth a shot here from the short side using today's high as stop references.
** Other topping suspects: WLT, AGU, POT
Thursday, April 17, 2008
Raging bulls, no?
Posted by flyingwabbit at 4/17/2008 09:04:00 PM
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