AI
Wednesday, January 10, 2007 11:08:51 PM
WB, what is your opinion on the issue?
Have a good one
As commented earlier, QQQQ traded to upper target with AAPL upgrade and Oil trading down.
The last high in Nov06 was 44.75 at which we have triple top as of today. I alerted to take PROFIT at Nov06 high after alert to buy in Jun-Jul 06 low.
Now, we have a "Breakout" scenario with bullish sentiment with "large cap" upgrades such AAPL upgrade today. Trading break out with greater risk at this point is for ST trading only. A potential high target is to near 47 with a successful breakout.
SPX is consolidating at 50ma above SPX 1400 which I noted. It traded above SPX 1406 which is initial support. It will be a short term trading, if and when it crosses above SPX 1417 +/-.
Conclusion: Breakout trades will be ST trades until noted other wise. We are in earning season, so, any earning news will move markets, so it is wise to follow the volatility.
Have a good one
As commented earlier, QQQQ traded to upper target with AAPL upgrade and Oil trading down.
The last high in Nov06 was 44.75 at which we have triple top as of today. I alerted to take PROFIT at Nov06 high after alert to buy in Jun-Jul 06 low.
Now, we have a "Breakout" scenario with bullish sentiment with "large cap" upgrades such AAPL upgrade today. Trading break out with greater risk at this point is for ST trading only. A potential high target is to near 47 with a successful breakout.
SPX is consolidating at 50ma above SPX 1400 which I noted. It traded above SPX 1406 which is initial support. It will be a short term trading, if and when it crosses above SPX 1417 +/-.
Conclusion: Breakout trades will be ST trades until noted other wise. We are in earning season, so, any earning news will move markets, so it is wise to follow the volatility.
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