Thursday, April 24, 2008

Crunch time, but for bulls or bears?

I bet you that you feel it: bulls are really pushing it, and they got really close (SP500 near 1398) before some sell-off in the last hour or so. With MSFT down over 5% after its ER in AH, we will find out how strong bulls are tomorrow. Some random thoughts:

** APA: SW-S2, ez=135.8-137.8, stop just above 138, IT=128/MA50.

** BEXP: SW-L2, ez=8-8.55, stop just below 8, IT=9.5/10

** BIDU: not a lot of volume/action after ER in AH, might consider CTT between 320 and 380.

** CF: dropped nearly 6% after ER in AH, boy, which I had acted on my gut feeling when it was near 160 earlier this week. May consider DT-L2 if it spikes towards 120, or SW-S2 if it spikes towards 144/147, stop just above 149.

** DRYS: SW-L2, ez=70-76.2, stop just below 70, IT=88

** FCX: DT-L2 if it spikes towards 105, stop just below 104, IT=110.

** GS: SW-L1 if it spikes towards 182/183 in the early going, stop just below 179, IT=MA200.

** MA: I have a funny feeling about it, it has been crawling up in the last 4-5 weeks as volumes become lighter and lighter, and little bullish enthusiasm as it slowly breaking to the new highs, a very good ER next Tuesday? just suspicious. I might take a small put position if it spikes towards 250 or higher tomorrow!

** MOS: DT/SW-L2 if it spikes towards 110/MA50 in the early going tomorrow, stop just below 110, IT=120

** POT: DT-L2 if it spikes towards 180 with a stop just below; SW-S2, ez=109-205, stop just above 207.

2 comments:

Anonymous said...

and another 6 pts with drys, nice week, rounding on the chart may go down which will resurect my dead put.
The rubberband is tight, there must be a selloff....therefore I expect a suprise gap up on Monday, with a massive selloff on the fed statement of no cuts, then again I could be wrong.....

flyingwabbit said...

razor:
excellent trades on drys, and I need to shadow you in RT:) looks like you are set for a nice Friday's night usual with lots of B and B :P
I actually had the similar thoughts regarding the market, which is why I decide not to re-enter any short position today, there could be a lot of fireworks next week.....