With VIX completely broke down and major indices are approaching the key resistance zone just above the Jan'08 high for the forth time so far this year, you got to wonder if anything can hold the bulls back this time, especially IBM's ER in AH gave bulls another shot in arm. Some random thoughts:
** INTC's post ER day was a distribution day with relatively so-so volume, I will be curious if IBM will do better tomorrow.
** APPL: I mentioned last week of the possible formation of the "cup-n-handle", you think the handle is almost completed?
** BIDU sure has a pretty bullish chart, should buy any pullback with stop just below 300, IT near 350. But GOOG ER on tomorrow is a wild card.
** Why I feel the bearish urge to act if MA spikes up in the early going tomorrow morning?
** POT: it sure will break through 200 tomorrow morning, but how long do you think it would take for it to back fill the gap here?
** SGR: looks like a pretty classic short-term 2B formation here.
** SPWR sure looks like having a killer ER tomorrow, doesn't it?
** X/NUE/AKS: cost of coal is spiking, but the steel makers are able to pass it on by raising the price, then about slowing demand? I really have my doubts, but arguing with the tape/charts now just cannot make me look smart? then again, maybe tomorrow's NUE report will vindicate my vision :P
Wednesday, April 16, 2008
To bulls: if not now, then when?
Posted by flyingwabbit at 4/16/2008 10:33:00 PM
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