Berney; RE:" IBM, CAT, INTC "
...candles on IBM say down - but earnings over-ride everything this month, and options expiry is this week's Friday, to boot. I've got this paranoid concept that IBM will finish the week at 102-103, about where it was last options expiry; This maximizes the profit for a short straddle, ie., sell CALLs and PUTs (like CBOE does). Chart only the WED/THURS/FRI of options expiry weeks and you get the idea. Conspiracy theories abound, whodunnit ? (^_^)
...CAT just bounced off of her 50d MA, Berney - I'm watching it too. Weekly candlesticks say, "top", daily says, "buy".
>IMHO the only way this market can continue up is
to have a "normal" sector rotation into tech...
I agree with that, and I think it just might happen if INTC does well.
The YTK.X deJaeger Year2000 Index is interesting; I'm following KEA and CHRZ in that sector.
I'm trading HWP long; strike 65, 120day far-calls. I have a crappy position in CPQ and AAPL too, so go figure!
Other stox that popped up on the scanner include: AVT MI XYLN IMR and I'm watching ODSI DIIG SMOD WSTL for some reason.
BTW, INTC very bullish; first resistance at ~75, near target is 78-79, then 81-82; downside support is 68-69. Where's IT ? We're ready to rock and roll !
-Steve |
