1:00 (charts) update SMH and S& P futures dropping through support areas here. Looks like another shortable rally especially for the semiconductor sector. Actually gave QLGC a chance today and a scalp long on SNPS but emphasis is on the word "scalp". Our alert this morning was for the LONG TERM DAYTRADE except for select EARNINGS PLAYS and taking profits in YHOO and SOHU especially. (actually closed YHOO long yesterday) Many of our earnings plays still holding onto morning gains.