WFC UP

WFC up on news that the Wachovia merger is working out well. My opinion it is the mark to market rules in action and nothing more.

Thursday

Expect a very light day of trading today and narrow range. Yesterday I had my doctor's appointment and got some medication so I hope I am in a better mood next week.
There is no reason to trade today a day before holiday as most traders have already taken off.
I will have my system on looking but I doubt it will be an eventful day.

Have a great long weekend

Broken

It is 10:15 Pm and I just checked we broke that 810 level and now sitting at 804.
Now the only other number I have below is 792/3 area so watch for that overnight or early tomorrow.
I think that might be a good buy stop but make sure volume is there

Sell Signals

Getting some sell signals again but the anaemic volume makes me less aggressive to take it. Alcoa had a 56 cent loss per share but it was less than the 59 that the street expected so we will see how the markets react to it tomorrow.
I will be late tomorrow as I have a doctor's appointment in the morning for this darn sinuses suffering, I am running on empty so they better give me something to juice me up :)
Very narrow range today again and most traders I have spoken to think no one is willing to commit right here, if we can stay up here could be positive but any big misses on earning and we will spiral down.

Watch todays lows on the S&P 810.75, it might prove critical tomorrow.
I am basically neutral here into Thursday.

Will be back lunch tomorrow.

WRC and SRS look like two nice plays here.


MARKETJEDI

TRADE CALL: SHORT WRC

No Options just straight short.

WRC @$24.84

Narrow range

Very range again if that was ever possible today. Geez seem like everyone is out for some holiday that I don't know about. Earlier on we looked like we were setting up bear flag but they were negated. One strange see saw market again that has just gapped down huge and then nothing when the market has opened.


Let's see if Alcoa can spark up some interest in the markets.

Tuesday

Well another gap down today. Do we fill the gap or do we continue down. Very hard to say but I can tell you this, these huge overnight action then narrow range in the regular hours is going to keep traders out of the market for sure. Hopefully most are just waiting on earnings which will start tonight with Alcoa.
If there is no action by 11 I will be gone.

Good Trading

MARKETJEDI.

P.S. I officially hate AZO as much as AAPL. I guess I won't trade atock that start with A :)