1405

Again the number higher that comes into play is the same old 1405- watch for that number if we trend high into Friday.

AAPL

The stock I dislike the most AAPL reports today. I have had an AAPL over a month and it has been painful to watch to say the least. Cover here +$30 profit and will not look back on it. If they spike out of earnings that $30 profit could be evaporated and I am not willing to take that chance. Maybe later in the day I will look at some options but they should have a ton of volatility priced in them to make them expensive so we would need a high delta move out of earnings in the right way to make it profitable.

Before Open

Looking at a sizeable gap down BUT there is just one number I am watching 1270 on the S&P. Bulls must close above that for me to say we wont get a size able pullback as it now stands. Friday day can be nullified as just options expiration movement and that's why I always make a note not to trade on those days. GOOG also approaching its 200MA - Lets see if it gets a bounce and how far.

April 10 Post

Some Projections: These are still in place- Only way they get negated is if we hit new highs- Please note carefully that the past two years the market has peaked in April. April 10 Post: If we dont make new highs to negate the projections set up I will be looking for the following numbers to be hit in the following markets: OIL: 95.25 GOLD: 1504. These are longer time frame projections and I am still sticking to my analysis that in a longer time frame we are still in a bear market that will end sometime in 2016 so we go a long way to go. We are still trading around the all important 1270 level, it still needs to be resolved!!!

RAX

WOW new highs- that one was beautiful

GAMES

Games as usual- we ended the week at exactly 1370- BINGO- now over the long weekend the bulls and bears will do battle of were the think we should go :) nothing like technicals !!!!!

Bloomberg must be reading my Blog

spoke about the 1370 area monday- I guess bloomberg a few days late !!! http://www.bloomberg.com/news/2012-04-12/why-1370-matters-for-the-s-p-500.html

Broken

50 DMA broken and we have skid much lower. Making new lows after 1pm is a bad sign for the close barring the protection team coming in and saving us from more selling.

50 DMA

Here comes the 50 DMA. Test and hold? or Test and close above ? or Test and close below? Anyone guess?

Some Projections

If we dont make new highs to negate the projections set up I will be looking for the following numbers to be hit in the following markets: OIL: 95.25 GOLD: 1504. These are longer time frame projections and I am still sticking to my analysis that in a longer time frame we are still in a bear market that will end sometime in 2016 so we go a long way to go.

Expected

well as expected we have pull backed after we broke last monday's lows. Right now the spot to watch is 1370.0 which is the 50 day moving average. Closing below this level will increase the expectation of more selling.

DECK

New 52 week low at the open. I am looking to cover 1/2 around $60.50 if we trade that low. Still watching

Interesting Day

Before the open the futures are down. What the problem is over the last 4-5 years have been all the great set up on a macro perspective have happened in the overnight session making it virtually impossible for the average investor to take advantage of. Now yesterday I noted that Mondays lows should be watched and if breached I would expect us to pull back, so what happened we tested the levels almost in the daytime session yesterday but it hit, so they hit it inovernight trading and now we have our pullback. So what's next? Well it all depends how the spin the pullback. Right now they are spinning it as a reaction to the FED tone of not doing a QE3. Now if this is the real perspective we are in real trouble longer term as the obvious deduction from that would be we can only go higher with the FED tricks and not by what matters which is real growth. I have been saying this forever that if the FED was not in the picture the DOW was be around 3500!!! YES sounds crazy but if you look all around the markets we just dont have the organic growth to real mark the equity market a secure long term investment. That's one of the reason Wall Street will back whichever politician that is PRO-FED! And this my friends is the true reason Newt Gingrich and Ron Paul can't get funding from the Elite rich because they are ANTI-FED, it is that simple. Well for today lets watch if we can get back into range. Yesterday we had an inside day and it is very rare to have two back to back inside days.

Mondays' Low

Monday's low is what I am watching here- If we close below it I would expect us to pull back a bit in coming days.

Cheap Options

Bought some $70 options @30 cent on AMGN. Looks like it might go but rather play by Options.