Tuesday's Plan

Presently we are overbought on the short term time frame thus a pull back is in the cards. Based on the waves on the charts We have resistance at 1378, 1390, then 1425. I would love to see us break the of the first level 1378 as 1396 would definitely be in play.
As we move into that 1390 level I will be looking at some shorts to leg into. On the downside look for 1363 as initial support.
Gold looks like it can pullback to the 20 EMA and OIL looks like it will bust through the 100 level this time and will more likely stick.
One sector to watch is the Rails, yes the Railroads stocks. The Railroad sector is the top performing sector for 2008 so far, look for CNI, BNI (Bull flag formation, could trade to $94, trading at $89 now) and UNP.

Have a good day tomorrow

Take Note:GOOG prediction

The market is rallying 180+ points and GOOG is down $20. This is major divergence as GOOG, APPL, BIDU have been the Nasdaq high flyers. What does this mean? well I firmly believe GOOG will be closer to 375 sometime this year and maybe if we get ultra weak closer to $350. These divergence must be watched as the Nasdaq no matter what the talking heads claim leads the market. Without Tech and Financials we can't go higher so the tech heavy weights need to head higher for this rally to hold.


GOOG- Sub $375 prediction before years end

AAPL trade

AAPL trade now +$1.50 but still think it will go higher this week. It is trading relatively weak but due for a bounce.
Will raise the stop to 117 here. Risking only 50 cents, since the trade was 1/2 shares.

Spike in Market

We are getting a spike here in the market because of the news coming out of AMBAC coming of credit watch. We will see if his is the bounce we need to get the bulls going or we fade the move. We got a new high on the 2:30 transition time.

TRADE CALL- AAPL

Still in but looks weaker here- I am still holding stop at 116.50

Update

Market seem to be working as planned per last night update. Early weakness was bought by the bulls and I think it should holdup this week.

TRADE CALL :AAPL update

Make that stop $2.50. Stop at 116.50

TRADE CALL :AAPL

Buying 1/2 share of AAPL 119. I am goign to use a $3 stop, very active trade.

FNM

FNM just got downgraded again this morning. Hopefully this one will be a huge winner