Pisa's Picks

[pisavsopbp622]

Actually I prefer FAS, at least for the first part of the week. Remember, Monday, year to date, represents the best performing day for the markets. On a technical basis, FAZ looks like it peaked in the short term Friday, while FAS looks like it made a short term bottom. I'm watching 1065 on the SP for support and 1078 for resistance. I think any rally will be capped by former support which I am looking to become resistance @ 1088, on the downside, I think a solid break below 1065 could send the markets reeling. Sold out of my FAZ position and calls on Friday after it failed to really bust thru the 16.40's. Will look to reenter ahead of the weekly jobless claims number Thursday.

By the way, Wassup BENZ? You driving one yet???? Rumor has it you been doing quite well the last few weeks, lolzzzzzzzzzzz

FAZ ~ http://stockcharts.com/h-sc/ui?s=faz needs to close above that 200 SMA day (16.26 coming into the week)

FAS ~ http://stockcharts.com/h-sc/ui?s=fas has closed above it's 5 day SMA twice in the last 12 trading sessions (19.73 coming into the week)