AAPL weak

Apple and retailers here weak on news that banks are cutting off financing to a number of retailers. Retailer use these line of credit to buy stock of goods. If that's not something to worry about I dont know what is.

OIL $119.40 here

Wow just blew past my resistance on the chart at $117. Not even a breather at the $117 level, next level to watch on the upside is $123 if we get thru $120.

Get ready for $5 a gal at the pumps

Euros hit 1.60

Said it for you Forex guys a few week ago that it would head into that 1.60, 1.61 area. I will look at the volume later to see if it can push through it.

AAPL

Apple looks very weak here. I can't find anything news related.

Stocks to watch

BIDU- yes BIDU the chinese google has been on fire lately. Looking at the charts this thing looks like the next resistance is 380 but after that it is all time highs. Just a stock to look at if you can get long if you are an active trader. I also think they have earnings soon but will check and verify that information.

MOS- this agro stock ended today at an all time high and with the momentum on these stocks I am sure it should go higher here. The charts on these agro stocks are amazingly overbought but I would buy on a pullback if it comes.

AGU- Same deal as MOS.....

I am not going all out here as I think the earnings reports this week will push us around.

Good Luck tomorrow

Tuesday Plan

With today's narrow range day I expect a move out of the range tomorrow. More than likely we will get a push down initial and we will play off that. Perfect set up would be for us to gap down and find support at the 1374 S&P area and bounce.
Couple stocks to watch if we bounce tomorrow or wednesday are POT, AMZN, AAPL, VMW.

Be careful

Although the market is red most of the strong stock are acting very strong today. The agro stocks, RIMM, AAPL etc I would not be short them here, momentum is on their side to the upside. Only thing I am willing to be short here is financials.