Ike- if we close above DJIA 7500, we'll have a Hammer Candlestick on the weekly chart, so bullish for 2~3 weeks as a result. We have a Hammer on Thursday's charts, so upward momentum expected - but not guaranteed that it can be sustained. Sure hope so, though, as I am as tired as you of these little dinky short sales.
I'm nibbling on AMAT and DELL LEAPS, to add to my long-term core positions. I'll probably trade RMBS stock for fun, and OEX options intra-day, Ike.
impressions:
AMAT NVLS TER CYMI KLAC SFAM, as well as trader's KLIC/ASYT look OK.
QNTM RDRT and even SEG (!) possible bounce here.
COMS and ASND overdone, but I'm too timid to play in that sandbox.
INTC & MSFT will move with the market, but not beyond it, for the time being, IMHO.
DELL & CPQ, probable bounce; else DELL to 60's where we all jump on it like crazed men in the desert, right ?
TXN and VLSI - very interesting, and I wish I had had the ballz to sell those PUTS on TXN when I was staring at "90" on my screen. I covered my OEX PUTs at 13.30 EST, looked at TXN = 90, and failed to act :-(
Bon Chance, Ike
-Steve |
