Monday, October 1, 2007

Say Goodbye to 14000

It was somewhat surprising to see the markets taking out the previous highs without much effort. But it happened just like that, and we have to give the market credit for its strength instead of overthinking this move makes sense or not -- it just happened and it is reality now.

A quick look at the leading stocks in my port:

1. AAPL. it's extended (well who isn't)? I realy would like to see a minor pullback to the 9MA and the supporting trendline near 152, but if it doesn't happen it wouldn't surprise me either. sit tight with my stocks and Nov calls.

2. FWLT. A nice breakout of the consolidation wedge. I hope to see some more volume confirming this action. A strong close above 136 and this stock can go to 150 in less than 6 trading days.

3.ISRG. I'm glad I sold my calls last week -- just not moving quickly enough to let me make money on calls. Still holding stocks. But I still think we will be seeing a 4-5 day rally to the 250 area pretty soon.

4. DRYS. Simply amazing. It's getting close to the upper trendline of the channel and shold consolidate sideways or slightly downward for a few das. Might want to cash out my calls tomorrow morning.

5. VMW. Not much TA to do with limited chart. 90 will be a resistance but anything can happen with this monster new IPO. Will just trade the momentum.

6. NYX. I like today's strong close on higher volume than yestday. The last three candles hints for a breakout from the consolidation,. We may see 85 by end of this week.

7. NILE. This one concerns me. If tomorrow we can't close above 95, we might dip down to 90 again and seek support at the 20MA.

8. SINA. Not much follow through after yesterdays reversal candle. But the chart is alright. A new high on vol and I'll add to this position. China is hot and will be for a while.

9. DSX. How can you not love the huge institutional buying volume on 9/21 and today? This stock is going to 36 quickly.

1 comment:

Janhaus said...

Zan vankie, co-waiting for NYX, support!