Monday, February 11, 2008
Awesome
Awesome call on the stocks mentioned to look at today!!! all are up except one.
BIDU+$8
GS+2.50
RIMM +4.70
FDX +.50
DIA+.72
LEH-.30
sweet
BIDU+$8
GS+2.50
RIMM +4.70
FDX +.50
DIA+.72
LEH-.30
sweet
TRADE CALL -Update
GWW short working nicely. presently +1.20 looking for +$3
INFY short also working nicely. currently + $1.30 from friday, looking for +$3
pretty dull day and although negative I dont see alot of volume on the downside. I am still upward biased for this week.
Oil is on a rampage almost hit $95 today after being down to 86 on thursday. As reiteration last night I am basically bullish for this week because of the move i saw in oil on Friday. $92 is still the line in the sand for Oil aslong as we are above that we can remain bullish
INFY short also working nicely. currently + $1.30 from friday, looking for +$3
pretty dull day and although negative I dont see alot of volume on the downside. I am still upward biased for this week.
Oil is on a rampage almost hit $95 today after being down to 86 on thursday. As reiteration last night I am basically bullish for this week because of the move i saw in oil on Friday. $92 is still the line in the sand for Oil aslong as we are above that we can remain bullish
Sunday, February 10, 2008
Contrarian View-Monday's game plan
Well everyone knows I am a bear long term but from the action I have seen last week in the market following the previous two weeks of action I am going out on a limb and saw we will bounce this week. I would not be surprised if we goto the 12700 before we start out decent again and hopefully we might even touch that wonderful 13000 again which would set up a beautiful short opportunity.
Last week friday action on Oil have made be believe the bounce in the market will happen sooner than later and my bet is it will happen within this week into next. We are deeply oversold and much of the selling from the earnings might be abating here for us to turn in a substantial bounce. Now I am no bull as stated I am a bear but you have got to play the bear market rallies when they come.
if we do bounce i will be watching 1426 on the S&P as the highest level of resistance. Yes we are far from there but I think that's the ultimate level to watch as a extreme target if the market starts to turn. Everyone is in the bear camp right now and I think they will get caught in the short covering in the next few days.
Couple of stocks to watch if we start to bounce are BIDU, GS, LEH, RIMM, DIA, FDX. I also wouldn't be surprised if we get some follow thru from the retailers and homebuilders.
Good Luck with this week trading.
Last week friday action on Oil have made be believe the bounce in the market will happen sooner than later and my bet is it will happen within this week into next. We are deeply oversold and much of the selling from the earnings might be abating here for us to turn in a substantial bounce. Now I am no bull as stated I am a bear but you have got to play the bear market rallies when they come.
if we do bounce i will be watching 1426 on the S&P as the highest level of resistance. Yes we are far from there but I think that's the ultimate level to watch as a extreme target if the market starts to turn. Everyone is in the bear camp right now and I think they will get caught in the short covering in the next few days.
Couple of stocks to watch if we start to bounce are BIDU, GS, LEH, RIMM, DIA, FDX. I also wouldn't be surprised if we get some follow thru from the retailers and homebuilders.
Good Luck with this week trading.
Friday, February 8, 2008
TRADE CALL
shorting GWW here -
Monster move by Oil today - need to take note of this. For monday I will be noting levels to watch on the upside and downside.
Shorted INFY this morning $42.60
Monster move by Oil today - need to take note of this. For monday I will be noting levels to watch on the upside and downside.
Shorted INFY this morning $42.60
Thursday, February 7, 2008
For Friday Feb 8 2008
Thursday the market did as per my assessment on wednesday. Market opened around the 1318 level as found support in the S&P, from there we mounted higher. Fear still persist in the market about a recession and defensive stocks like Phillip Morris are showing much strength in this market sentiment.
I have been noticing and reading of some weakness in the IT area of the economy especially those to do with outsourcing. One such first to watch for weakness is INFY. Presently in a downtrend should be highly playable as a short if the economy continues to weaken. I am still looking for a pullback in Gold to the $860 area but seems the fast money which was in OIL have set sights on GOLD.
The market has pulled back in volume this week and therefore puts me in the corner for more analysis on the next move. My ideal situation would be for us to get some buying and we move up and then go and test the lows but as said my times that's just my wishful thinking. Watch the solars they seem to be setting up again for a continuation down but I am not going to say when as I am not sure.
Watch for a gap up tomorrow for a short APPLE and BIDU seem to be weak here
I have been noticing and reading of some weakness in the IT area of the economy especially those to do with outsourcing. One such first to watch for weakness is INFY. Presently in a downtrend should be highly playable as a short if the economy continues to weaken. I am still looking for a pullback in Gold to the $860 area but seems the fast money which was in OIL have set sights on GOLD.
The market has pulled back in volume this week and therefore puts me in the corner for more analysis on the next move. My ideal situation would be for us to get some buying and we move up and then go and test the lows but as said my times that's just my wishful thinking. Watch the solars they seem to be setting up again for a continuation down but I am not going to say when as I am not sure.
Watch for a gap up tomorrow for a short APPLE and BIDU seem to be weak here
Wednesday, February 6, 2008
CSCO disappoints
After the bell CSCO disappointed investors with lack luster earnings for the quarter. Today while watching the market I saw cracks appearing in techs and financials again. BIDU the high flyer is almost 1/2 off its 52 week high. I have been ranting about these high flyers since december and have noted repeatedly of the massive run up on earnings expectations which these companies can't ultimately deliver on.
What has happened in tech especially is a concentrated money flow into a few names, which unlike the internet bubble led to a broad nasdaq rally. These few names have been getting the bulk of the run up of the last 2 years, noticably GOOGLE, APPLE, RIMM, BIDU, FSLR, VMW are just a few. What has happened here is just like looking for a dream job, alot of applicants for very few vacancies.
The break today of 1332 on the S&P was vital for the bulls and in the end it failed to hold miserably. Where do we go? well a test of the lows from 3 weeks ago more than likely will be tested. What happens on that test is the more important question to ask. With a weakening economy and disasterous January for the markets a test of the lows might trigger more selling which hopefully initiates a capitulary climax putting in a tradeable bottom.
Lets see how the market trades thursday and friday, this week has been very slow and we are winding up for a move.
Numbers to watch tomorrow
S&P 1318 support to be watched below that 1296. 1296 would be an S&P futures buy.
OIL in a full bear flag expect a test of $82 then $80
Talk to you tomorrow
What has happened in tech especially is a concentrated money flow into a few names, which unlike the internet bubble led to a broad nasdaq rally. These few names have been getting the bulk of the run up of the last 2 years, noticably GOOGLE, APPLE, RIMM, BIDU, FSLR, VMW are just a few. What has happened here is just like looking for a dream job, alot of applicants for very few vacancies.
The break today of 1332 on the S&P was vital for the bulls and in the end it failed to hold miserably. Where do we go? well a test of the lows from 3 weeks ago more than likely will be tested. What happens on that test is the more important question to ask. With a weakening economy and disasterous January for the markets a test of the lows might trigger more selling which hopefully initiates a capitulary climax putting in a tradeable bottom.
Lets see how the market trades thursday and friday, this week has been very slow and we are winding up for a move.
Numbers to watch tomorrow
S&P 1318 support to be watched below that 1296. 1296 would be an S&P futures buy.
OIL in a full bear flag expect a test of $82 then $80
Talk to you tomorrow
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