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EBAY, YHOO and AMZN were trading at breakout resistances level, so we will see whether other two will also breakout like EBAY did breakout today.
I know that you are bearish on YHOO while I'd like to see a positive price action.
We are in earning season so we could see unexpected price actions in reactions to earning news. Of course, there are many ways to play earning news and price actions going into earning report day.
Have a nice weekend
Qs and market are trading weak, sending mixed signals with PPI # interpretations every half hours.
Not comfortable with market actions at all unless it shows some strength even though I expected a consolidation day as noted during PM.
You did right thing to exit your position when market direction is not clear, but I am afraid that market is pulling back into close.
Remember Max Pain 44 for the OE week; therefore, we need to be aware of the odd.
Thanks and Have a nice weekend.
EBAY Breakout above Quadruple top resistance.
EBAY was on the Breakout Watch list.
Qs is slim jim on VST
Qs 44.29 support on 60m ... 5m is now reset.
SPX 1444 5m support.
LET's GO... break above Qs 44.44
All right, 44.53 +/- resistance, we need to break above.
We are good to go.
Dell is positive and Chips are cheap which is heavily shorted.
The sentiment on chips is too negative.
The resistance at Qs 44.60 is holding up, resetting 5m/30m.
Qs 44.44 +/- pivot for vst.
Qs trading at breakout resistance in Premarket, 44.60
Qs 44.75 BREAKOUT watch...
SPX 1450 Breakout
Good luck to ALL
Market reaction to PPI is positive/neutral after the report since we didn't see any surprise on PPI #.
AAPL is trading at 90.89 at the moment as noted that the sell-off is due to delaying the product, not fundamental reasons; therefore, the reaction is subdued. Also goldman is recommending to buy into weakness as iPhone is much anticipated product which is favored by consumer.
BRL is showing positive divergence at major support which is a good setup.
HST closed at 50ma and Nov06 top supports.
Good trades
Thanks Doc & JT, Markets bounced off from supports as alerts, Qs 43.95 and SPX 1434, and continued traded up closing near at the highs of the day.
$NYA made a new record high to 9477.76 breaking out. As noted before $NYA was leading markets and is breaking out. Betting against "Breakout" is taking an odd chance. Also $MID is close to breaking out, only a few points away.
China $SSEC is also continuing to make new highs, to 3531.02, helping general bull market sentiment. Also $KOSPI has broken out to 3531.
AAPL is down after hours because it is delaying the new iPhone; thus futures are down a couple of points. AAPL 89 +/- is 50ma and also TL support; therefore, it is strong and critical support.
Market breadth is improving and market closed near to Highs of the day which is a good sign going into PPI # tomorrow morning. However, we need to be careful for unexpected high numbers as well.
Positive reaction to PPI # could be the final catalyst to break out from the recent high to upside as we can see that SPX formation is showing ready to make a larger move as shown on the 60m chart.
I made a brief comment on the recent wave pattern as shown below. The retracements which we have seen are bullish suggesting that markets are setting up to retrace to the Feb 2007 highs and will likely make new highs.
"The recent price action, Qs, Nas & Dow 76.40% RT and SPX ~80% RT, is bullish for bearish view, a-b-c. Considering the retracement level, 5 wave looks truncated if it ends here, turning it to a-b-c corrective wave. 4/12/2007 8:15:04 AM"
Futures are flat +/- 1 and China bull market $SSEC is making another new high at the moment.
Good luck to ALL
$USD made ST new low. Lower USD has pros and cons and lower $USD does not concern me.
Market breadth is improving and market closed near to High of the day which is a good sign. Futures are neutral +/- 1 which is minimal before "PPI" number.
As noted before $NYA was leading markets and is breaking out. Betting against "Breakout" is taking an odd chance.
Also $MID is close to breaking out, only a few points away.
China $SSEC is also continuing to make new highs, helping general bull market sentiment. Also $KOSPI has broken out.
~~~
treat50,
Thanks, Just noticed your post.
AAPL support 50ma 89 is looking good. Let's see what analysts will say tomorrow. I am expecting some comments on AAPL.
The sell off is due to product delay, so, it is not as bearish as other fundamental reasons. 89 is a strong and critical support.
earlier post
I am cautious as I continue to have upside targets since the double bottom call.
As noted before, I am not as bullish as Jun-Jul 2006 bottom call, but, just to remind you that the continued series of short-squeezes which led the rally.
It is odd to think that we will see that scenario, but remember, break-out is breakout, and if you bet on "breakout failure" by shorting at higher... it will be interesting.
$NYA made a new high. It is breaking out and I noted that it is leading markets.
~~~
blasher - sent you emails.
$NYA, market & AAPL: $NYA made a new record high to 9477.76 breaking out.
After all, market closed near to the highs of the day!
AAPL Selling off in AH trading at 89.50 on the product delaying newsat the moment; therefore, futures are down.
We have "PPI" & "UM Sentiment report" tom
SAN FRANCISCO, April 12 (Reuters) - Apple Inc.'s (AAPL,Trade) eagerly-anticipated iPhone is on schedule to ship in late June as planned after passing several of its required certification tests, the company said on Thursday.
But the company said delivering the phone on time has delayed the release of the next update of the company's operating system, called Leopard, until October.
OIL jumping to 63.85 isn't helping right now.
POWER UP! let's go...into Close
5m refreshed. ALL RIGHT!!!
Posted by: __1Best__
In reply to: __1Best__ who wrote msg# 225
Date:4/12/2007 2:13:02 PM
Post #of 226
Qs 44.47 +/- retest of the intraday breakout support on 5m.
Going into close - 5m Pivotal
Qs 44.47 +/- retest of the intraday breakout support on 5m.
Going into close - 5m Pivotal
Qs 44.75 break above will increase "Buying Pressure".
Qs 44.75 is the intra high of recent rally.
Posted by: __1Best__
In reply to: None
Date:4/12/2007 11:32:56 AM
Post #of 224
Alert: 44.48 + POWER UP... will trigger SHORT-Squeeze.
Those who are in shorts, did you cover shorts? Or Adding shorts?
5m consolidation is the pivot for the day.
5m price actions created an upside positive D. with huge volume came in at the support which I noted, 43.95, earlier, which was followed by high volume actions to upside.
http://www.investorshub.com/boards/read_msg.asp?message_id=18704740
DELL is performing well as alerted during premarket.
AMD breaking above 13.70 ==> Breaking above down Trendline
Posted by: __1Best__
In reply to: None
Date:4/12/2007 8:46:16 AM
Post #of 221
DELL & AMD
Dell traded above resistance as noted a couple of days ago. AMD is positive in premarket. AMD is heavily shorted stock.
Alert: 44.48 + POWER UP... will trigger SHORT-Squeeze.
Those who are in shorts, did you cover shorts? Or Adding shorts?
5m consolidation is the pivot for the day.
5m price actions created an upside positive D. with huge volume came in at the support which I noted, 43.95, earlier, which was followed by high volume actions to upside.
44.44 +/- is the resistance, breaking above will create further "Buying Pressure", POWERING UP.
44.19 - 44.25 break above ... POWER UP above down TL.
5m positive D
30m oversold
Qs 44 : 43.80 & Market Support
Qs maxpain is near 44
Qs bounced off from 43.95 TL support at the moment.
DELL & AMD
Dell traded above resistance as noted a couple of days ago. AMD is positive in premarket. AMD is heavily shorted stock.
http://www.vnunet.com/vnunet/news/2187645/dell-ups-bet-amd
Dell ups its bet on AMD
Company rolls out latest line of Opteron-powered servers
Shaun Nichols in California, vnunet.com 12 Apr 2007
Dell is preparing to boost its adoption of AMD processors with the introduction of two new low-energy servers.
The two models will be named the PowerEdge 2970 and the PowerEdge Energy Smart 2970. Both will use dual-core Opteron chips and will be designed to work with AMD's forthcoming "Barcelona" line of quad-core processors, scheduled to debut later this year.
The rack-mount servers will contain a pair of Opteron processors at speeds up to 3Ghz, along with a maximum capacity of 32GB of RAM and over 1.1TB of hard drive storage. The servers will support Windows Server 2003, Red Hat and SUSE Linux.
Dell claims that the PowerEdge 2970 will consume 34 per cent less power than the previous line of servers, which used dual-core Intel Xeon chips. The Energy Smart model will offer an additional 21 per cent power saving.
A long-time Intel customer, Dell announced last summer that it would also begin using AMD chips in selected servers and workstations. The two chipmakers are currently locked in a battle in which Intel claims a performance lead, while AMD says that its chips offer a higher " performance per watt."
The PowerEdge 2970 is currently available, while Dell expects the PowerEdge Energy Smart 2970 model to hit the market "in the coming weeks".
GS, let's see whether the recent rally was corrective wave as noted on my previous post.
Certainly the Fed seems to have a complete control of market, once again.
Good trades
http://www.investorshub.com/boards/read_msg.asp?message_id=18694171
China Bull $SSEC making another new high to 3531.03 and S.Korea $KOSPI to 1525.61; however, one day pulling back that we have seen yesterday, bringing out pessimistic views on US market to see more of bloody market. Bulls need to defend the supports today.
The recent price action, Qs, Nas & Dow 76.40% RT and SPX ~80% RT, is bullish for bearish view, a-b-c. Considering the retracement level, 5 wave looks truncated if it ends here, turning it to a-b-c corrective wave.
Premarket is down. RIMM pulling back from historic high level before the earning report, off 7% to 136.30 in PM.
Eco # at 8:30 AM
Market sold off after the Fed mins, but the trading day started off with selling as noted to exit Long positions to minimize downside risk at the resistances and as alerted high put interest going into the Fed min release.
Markets bounced off from supports before the Fed min release, Qs 44.20 and SPX 1438. However, after the mid day bounce, market sold off into close. The signal which I received from the Fed min release was mildly negative as we have seen through the market reaction. Having said that, market was due for a sell-off on intraday overbought condition with negative divergences. After considering aforementioned factors, I need to see market reaction for the next two trading days to be sure that we have ST top. Exiting long position is a good idea going into the earning season for those who are risk-adverse.
Market closed above important supports. Trading VST.
Future is relatively flat and China Bull market $SSEC is still showing bullish sentiment making new high 3513.11 above 3500 resistance which I commented that it was a resistance.
LONG-SHORT major market ETFs
QQQQ & SSO Long 2x
DOW & MID Cap LONG 2x
SP500 & Russell 200 Long
QQQQ & SP500 Short 1x
DOW & Mid Cap Short 1x
QQQQ & SP500 Short 2x
DOW & Mid Cap Short 2x
SP500 & Russell2000 Short
RIMM reports after close.
JT, you're welcome. Pls check email.
VOLUMES: I get easily tired of bloody market, looking so stuffy and evil.
Selling volume is relatively light even though major market ETFs are higher and major market volumes are a bit higher.
Nasdaq and DOW selling volumes less than 2 million
Markets bounced off from expected supports Qs 44.20 and SPX 1438 B/O.
While we have high P/C ratio at the moment, I am expecting "no dramatic sell-off" after the Fed min, but am staying cautious.
MSFT target 28.10 +/- close enough. Covered it for vst trading.
LOD 28.13
http://www.investorshub.com/boards/read_msg.asp?message_id=18632500
osted by: __1Best__
In reply to: wonderbuy who wrote msg# 3980
Date:4/10/2007 2:00:43 PM
Post #of 3985
MSFT is tanking to my consolidation target.
Retracing Intraday breakout support to 28.10 +/- S
Qs bounced off from 44.20 S3, a good point to cover short for VST. But I see 44.44 is resistance.
Will see how market reacts to the Fed min.
Great 10% gain, blasher
http://www.investorshub.com/boards/read_msg.asp?message_id=18665718
P/C expert... if you would like, you could be a P/C expert by checking the link below and alert us the ratio every day.
High ratio is often a pre-signal for a directional bias to up or down side as shown by high ratio whether it is upside or downside. But high put/call ratio to as a sell-off is what traders are watching out for.
Qs bounced off at 44.20 S3.
http://www.investorshub.com/boards/read_msg.asp?message_id=18649003
As commented yesterday, a profit taking is antcipated, "Exit Long" to be safe, and this morning, the sell-to-downside was good enough to short side, but as noted, I will reassess EOD after the Fed min.
Posted by: __1Best__
In reply to: greenstreet who wrote msg# 188
Date:4/11/2007 9:01:09 AM
Post #of 195
Good morning, OEX was underperforming small cap during the last few months.
I don't see a reason for having high OEX put interest, but it is a worth paying attention as a potential sell-signal.
P/C ratio alert: OEX
http://www.cboe.com/data/IntraDayVol.aspx
VIX is bouncing up at the support.
CMCSA is heading to 28 resistance with explosive move to upside.
CMCSK to upside as well.
Qs broke 44.44 which is a BO support. With the volatility which I am expecting today, I will reassess market after close.
OIH is breaking out.
Thanks, and you did very well with PALM and I agree with your approach.
Good trades
PALM traded to target which I noted on 4/9.
Did you re-enter after you exited the position in the morning on that day?
At this point, it could bounce, but for a longer term, it is still looking bearish.
Good trades
~~~
http://www.investorshub.com/boards/read_msg.asp?message_id=18579049
Posted by: __1Best__
In reply to: blasher who wrote msg# 142
Date:4/9/2007 8:55:56 AM
Post #of 190
PALM formed double top, as you noted. It is also competing with Sandisk.
It closed at intraday support with Resistance 18.08 +/-.
Measured Target is 16.50+/-.
Good morning, OEX was underperforming small cap during the last few months.
I don't see a reason for having high OEX put interest, but it is a worth paying attention as a potential sell-signal.
P/C ratio alert: OEX
http://www.cboe.com/data/IntraDayVol.aspx
Half Hourly Volume Report for Selected Indices For 4/10/2007
DOW Industrials S&P 100 S&P 500
Time Calls Puts Total Calls Puts Total Calls Puts Total
9:00 AM 1303 548 1851 757 2904 3661 8140 21016 29156
9:30 AM 1708 1231 2939 1729 4904 6633 16513 41772 58285
10:00 AM 1873 1529 3402 2001 7885 9886 25131 72873 98004
10:30 AM 1891 1856 3747 2407 8757 11164 40067 93999 134066
11:00 AM 2051 2434 4485 4016 9630 13646 66158 134318 200476
11:30 AM 2394 2519 4913 4365 11086 15451 98539 170906 269445
12:00 PM 2454 3226 5680 4664 12080 16744 111060 195350 306410
12:30 PM 2499 3482 5981 5152 12618 17770 118948 211419 330367
1:00 PM 2530 3615 6145 5259 13235 18494 123872 217087 340959
1:30 PM 2549 3878 6427 5366 14253 19619 141574 241717 383291
2:00 PM 2569 3918 6487 5390 14429 19819 141803 243930 385733
2:30 PM 3419 4247 7666 5950 16600 22550 143793 250874 394667
3:00 PM 3472 6193 9665 6917 20834 27751 161617 267889 429506
Asian Bull Market: $SSEC trading record high to 3497.52 HOD which is close to breakout target of 3500; therefore, I would be careful at the 3500 resistance with up-side risk since the market has broken above 15yr trendline resistance.
$KOSPI also traded to a new record high to 1519.31 after breaking above 1470 resistance.
Risk management is one of the most important factors for being in the market. Thanks for reminding us of the important fact.
We needs to take risk-reward ratio seriously.
FOMC meeting min at 2mp will be a catalyst for market direction.
We have 8 up-days for DOW. One more up-day will be making a record in 10yrs.
Dow's 8-day streak longest in 4 years
Published April 11, 2007
http://www.chicagotribune.com/business/yourmoney/chi-0704100413apr11,0,3273338.column?coll=chi-busin....
As for neg. Divergence, I consider it in the given context and timeframe. Yes, it is a factor.
Continued mergers and reorganizations to cut costs and to be efficient.
Good trades
~~~
Citi Cutting 17,000 Jobs
By TSC Staff
4/11/2007 7:08 AM EDT
http://www.thestreet.com/_googlen/newsanalysis/banking/10349517.html?cm_ven=GOOGLEN&cm_cat=FREE&....
We have FOMC Min release at 2pm. Market will react to comments on inflation and others such as R.E. market and subprime effect on economy.
We have different names for days of week prior to OE such as:
as you noted: Weird Wally Wed
Usually Turn around Tuesday
Tumultuous Thursday
The FOMC min release could be a catalyst.
Good day
~~~
$MID cap is getting close to breakout.
Market traded in a narrow range before the Alcoa earning report.
10:12:04 AM Qs & SPX: anticipating another narrow range trading before Alcoa earning report in AH. Qs trading near to 44.75 +/- resistance, yesterday HOD.
SPX traded to higher/high 1448.73 and Qs to 44.68 to respective resistances as shown on 60m charts. Most of traders weren't expecting the market actions staying in narrow range today as we can see that the price actions shown on 60m are unusual showing no retracement. Note that Qs and SPX intraday actions stay above the break above 3/22 high of cup & handle formations. At this point, if you are not comfortable with staying long, exiting holding position is a good idea.
While major markets are at resistance, NYA traded to new high, breaking above Feb 07 high to 9472.81, as noted that NYA is leading the other major markets.
Breadth is improving, but not as strong as I would like to see unless market is on the way to breakout mode which could create volatility buying into the possible breakout. Whether we could see buying pressure into Breakout to new high is questionable. At this point, it is wise to be cautious as we could see a market pull back during OE week.
Market reaction to Alcoa report in AH was positive which is a good start of Q1 earning season.
Yep, the real question is whether we could see "buying pressure" if and when market breaks above the double top resistance at the Feb 2007 high level. Whether market is motivated to buy the breakout? Then, we could see "Short-covering" in addition to buying the breakout to keep up with SPX performance.
There is no apparent reason that market would turn down at here even though we are at resistances.
Good trades
http://www.investorshub.com/boards/read_msg.asp?message_id=18649003
NYA broke out today, making new high.
NYA was leading the major markets.
China is the really leader during this bull market cycle.
Glad to hear that you enjoyed the mountain. I like "Grand Canyon" views and also like the view of Sedona with the shape of "Close Encounter of Third kind", the shape which Richard was making with mashed potato. I rarely watch movie twice, but I watch this movie twice in late 1970s.
http://www.imdb.com/gallery/mptv/1362/Mptv/1362/6001_0015.jpg.html?hint=tt0075860
http://www.investorshub.com/boards/read_msg.asp?message_id=18572075
The point which I am making for NYA is that it is a stronger market which is showing that it is almost retraced to the Feb '07 top, only 28 points to go to breakout above the Feb 2007 high to make a new high. This means that NYA is leading the rest of the market as it did before. Did you also check on $MID and $RUT? They are also a few points away from the Feb 07 high. Even though, as you pointed out NYA neg D., market is heading up, I believe, to breakout. I know that we are heading to earning season, but with a bit of good news, market seems to be heading to make new highs.