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Zeev - AAPL at a nice discount AH. Still like it for the $20-$22 rally potential now?
Shorted BRCM at $22.04 eom
If we gap up Monday and do a gap fill and hold on Wednesday, I will cover shorts on Wednesday and go full boat long for about 2 weeks. If we gap down on Monday, I add to short positions and ride it for about 2 weeks. I am starting to suspect that the gap up will come Monday, only because of the recent huge beatings on PG and HD. Disibution still needs to occur before the REAL SHOCK comes...
So was that a gravestone dogi put in on Friday on the QQQ's? That is the question. The close on Friday was exactly the same as Thursday (according to Clearstation prices). MSFT looks weak must fall hard for this to be a good tradeable bounce. This next week should be very telling. The down volume on Friday QQQ's was not high though, so anything goes. Confusion is definately thier operative right now.
Good morning board. Took NVLS and QCOM off the table - hit my original targets of $31.00 and $28.50.
Started a short position on FFIV at $10.68.
Looking for others to short as the day progresses.
Looking at a bunch of chart candles on tech stocks, NO WAY is this the tradeable bottom everyone has been looking for. A lot of the bottom candles are white, and that is not a bottoming candle. Red/Black hammers are the common. Therefore, I am playing this as an options expiration play only. Too many people out there are screaming that it's going to 1700 right now. That is utter BS, and will be dealt with very shortly. 1200's are definately the magnet after this ramp is done.
Pretty timely PR by Dell for a penny increase. Just what the Doctor ordered to get the market juice going. QQQ's may hit 28 on this ramp, but I will be short long before then.
Happy trading,
James
Scratch the $28.50 target on QCOM. It's past that after hours. I think $30 comes into play now for sure.
If NVLS cruises by $31, take it to $33! LOL
My favorite short list for Friday/Monday - FFIV, JNPR, MLNM, FAST
Friday will be good, and some of the issues not participating right now should be snagged for the close (if thier technicals are intact). NVLS and QCOM should be up only 2-3%. Short with conviction at the end of day tommorrow.
QCOM target = $28.50. NVLS target = $31.
Gonna get happy short at end of day tommorrow.
Good Thursay, bad Monday seems to be in effect here.
NVLS chugging along back toward it's high. It has a gap to fill, so it may want to do that before heading lower. Regardless, I'm staying in it overnight.
QCOM also with the bullish engulfing. NVLS and QCOM should at least test thier highs again tommorrow. Zeev may be right - this is probably not the tradeable bottom, but it is my 1 and 1/2 day pop I was looking for.
NVLS has a bullish engulfing candle today. Might have a real nice gapper tommorrow. Something definately up with INTC.
Bounce time. SOX is heating up..
Out of QQQ at $24.10 for a measly $.16 profit. Don't like the break of the QQQ low this morning and the volume as high as it is. Looking to reenter at end of day again.
Anyone know what the new lows count was for today?
Funny how Kramer on CNBC doesn't even associate himself with his beloved Qwest anymore. Probably had it short the whole time. Always mentioning that he can't "sell" a stock after he mentions it for a period of time, did anyone ever think it was "sold" way before his mention. Liars and thieves...
Well...I did some damage control this morning on my ZRAN and VRTS longs. Got out of ZRAN once $18.56 broke and sold VRTS at $18.20 right after the prior day's NAZ low was breached. Went long QQQ in the final minutes, but thinking that was a mistake too. I can't help thinking that the exhuberance that took us up will unleash mercifully on the way down too. We may just get our capitulation yet, but I think that if next weeks earnings and guidance are negative, the BIG BOYZ will want to take this up before then. So I am personally looking for just a sizeable day and a half bounce before that. Since cyclical lows typically happen by the end of July, I think the NAZ may truely get it's real punishment earlier this time. All the better for the long side sooner than later I guess.
Stay Safe.
James
Carpino switched from today to Thursday? What was the reasoning?
DCLK may be good long play if YHOO reports favorably.
Talk about a moment of truth. Good luck everyone!
Anyone got the P/C ratio for last hour?
marginnayan: The previous day's volume is important too. We may be matching that on the downside. I feel better when it is only 50-80% of that on day 2. It's not an absolute however.
ZRAN better not touch the $18's...
was Jeff now Steve: Thanks for the welcome. I like if for at least $21. ZRAN looks good for $22.00. I'm not sure if we get this bounce, so my cash levels are still a bit high so I can average down if necessary. If we erupt tommorrow, I don't mind averaging up either. Good luck to you!
In VRTS lond at $18.55 eom.
In ZRAN at $19.40 eom.
Sometimes the best strategy is to do nothing at all. I am not convinced of a bounce yet. Some of the stocks I follow that are good bouncers are on day 2 of of greater down volume. Something tells me a couple more days are still left to come. But everyone has an opinion, and you know what they say about those! LOL!
Zeev - Any thoughts on the market moving down and sideways until Friday, and then getting the 3 day ramp to QQQ 27?
CREE awarded $26 million government contract. May be bucking the chip downgrade today.
i am under the impression that stocks like AMCC, NUAN and VTSS will have a good rise these next few days. This would be an opportune time for those to make a run to thier 50dma. Stocks that did that last week, such as FFIV, will see additional pressure.
Zeev - Been lurking on SI for a long time. Since INSP survivability is grim (I actually had a friend that reported to Naveen Jain that questioned them making it years ago), I never wanted to give them the $$. Your help over the last year has been great. I think my portfolio is close to 30% up this year from trading long and the "dark side". Good to have your forum here!
DMNX heads up - 14C filed with board of directors approving 10-1 forward split. Current float is 300K and split PR not issued yet. Check out chart and volume over last couple weeks since 14C was filed. IMHO chart looks tasty, but do your own DD of course! Good luck
DMNX heads up - 14C filed with board of directors approving 10-1 split. Float only 300K right now. Check it out - split PR not out yet. Chart looks real good right now too for picking up shares before the runup. As always, DD it first! Good luck!
ATEX: Hearing that a spinoff PR is finally in the works for Primus real soon. Went from $1 to $2 a couple of month's ago but the short-termers got restless. Can pick it up for $.93 now. Was available for $.71 a week ago. Check out the chart. C-YA!
Plato: SPAZ is on the SCAN with a nice 30% gain today! It's entering it's ever so predictable 6 week run into Christmas Quarter earnings now. With so many more DVD licenses, this may be a sweet play. C-YA!
FBCE Nazdaq listing news out today. Gonna be listed as of Nov. 16th!
FBCE News! Going to the Nazdaq on Nov. 16th! Awesome!
FBCE - Rumor confirmed today. Going to the Nazdaq on November 16th!