Kiwi,
The XAL still has upside on a technical basis, but not much. Its only about 10 points below its all-time intraday high. The airlines did great with their earnings, probably the best, but now the news is almost all out, so what can continue to hold it up. Then on the negative side we have the possibility of CRUDE going up, in light of OPEC seeing revenues drop, and with stupid Saddam helping. Techically, I am sensing a TECHNICAL DELAYED RISE(DOUBLE TOP), and if the XAL can pass 700 with maximum of 705, it would be an idea one. I may play PUTS on this one possibly. Just heard on CNBC that ALASKA AIR's, a component of the XAL, earnings was raised - that means SELL >>> gggggggggg<<<
The BKX only moved up 4 points in light of the DOW moving 100 points. When things were good the BKX would have moved up 15-20 points yesterday. This is another index that I am looking to play PUTS on.
The futures right now is only up 30 cents and with the fair cash value , believe it is up maybe 1.5.
Also just heard on CNBC that Merril is having a conference call and it appears there may be a downgrade/negative statements toward the Semiconductors.
Seeya |
