[INTRA-DAY ACTION]
Sell sell sell. That's the word. The lustre of the new year has worn off and the recession continues to weigh heavy on the markets. Quite a lot of stuff happening this morning.
UK sold off heavy after everyone and their gran was sacked from their jobs yesterday. Steve Jobs is stepping down at AAPL on health fears so I expect further drops there. USO starting to look like it might base and run a bit so I'll keep an eye on oils today. Bank of America getting a heap of dough from Uncle Sam. And the stock that first caught my eye in the US markets, Ciena (CIEN) is looking like a decent technical setup at the moment.
OK pre-market AAPL is down $6 so that's definately in play today.
Levels to watch;
X @ $30
CIEN @ $7
SPYs @ 837>846
Realistically I don't think CIEN will hold today. Also watching RIMM and AMZN on AAPL news. Will RIMM rise if their competitor is looking weak, or will they follow suit?
Update 13:40 (08:40US)
Looking like X is going to open up at $31 here. $30 is a very nice entry price. It's forming a double top from yesterday afternoon at the 200MA so I would really like this to pull back and provide a good r:r entry here.
Going to watch this AMZN channel at $49.2-$48.3 and look to trade the breakout as I don't feel comfortable trading this narrow a range.
Update 15:50 (10:50US)
Apple trade:
Shoter term. Waited for the price to break the short term high and went short with volume. Covered at 50MA for +$0.76
AMZN rocketeering at the moment. AA trying to hold ST support at $8.7. X holding at $29 and eager for this to pull back to $30 for a short entry.
Update 16:54 (11:54 US)
X trade:
Short term trade. Shorted at $30.97 to cover at $30.56 for +$0.41. Prior support is new resistance. Caught it just below $30 after a fake to $30.15. Covered at moving average with time and sales support. Was a nice exit as it bounced a bit higher. Has since made a lower high at resistive 50EMA so will look for another entry at $30 later in the day, hopefully this time it will sell more convincingly to $29.
AMZN strong, AAPL consolidating; Internals consolidating but showing weakness; DRYS forming a pennant and looking for a breakout there in next 15 minutes.
Update 18:45 (13:45US)
Market is R I P P I N G !!
Move happened while I was making some dinner. Lots of volume came in and shot this hard as it dropped to slightly lower lows.
I'm sure all the charts look good but these ones look the best to me.
Man the market is still going after these screens!
UK sold off heavy after everyone and their gran was sacked from their jobs yesterday. Steve Jobs is stepping down at AAPL on health fears so I expect further drops there. USO starting to look like it might base and run a bit so I'll keep an eye on oils today. Bank of America getting a heap of dough from Uncle Sam. And the stock that first caught my eye in the US markets, Ciena (CIEN) is looking like a decent technical setup at the moment.
OK pre-market AAPL is down $6 so that's definately in play today.
Levels to watch;
X @ $30
CIEN @ $7
SPYs @ 837>846
Realistically I don't think CIEN will hold today. Also watching RIMM and AMZN on AAPL news. Will RIMM rise if their competitor is looking weak, or will they follow suit?
Update 13:40 (08:40US)
Looking like X is going to open up at $31 here. $30 is a very nice entry price. It's forming a double top from yesterday afternoon at the 200MA so I would really like this to pull back and provide a good r:r entry here.
Going to watch this AMZN channel at $49.2-$48.3 and look to trade the breakout as I don't feel comfortable trading this narrow a range.
Update 15:50 (10:50US)
Apple trade:
Shoter term. Waited for the price to break the short term high and went short with volume. Covered at 50MA for +$0.76AMZN rocketeering at the moment. AA trying to hold ST support at $8.7. X holding at $29 and eager for this to pull back to $30 for a short entry.
Update 16:54 (11:54 US)
X trade:
Short term trade. Shorted at $30.97 to cover at $30.56 for +$0.41. Prior support is new resistance. Caught it just below $30 after a fake to $30.15. Covered at moving average with time and sales support. Was a nice exit as it bounced a bit higher. Has since made a lower high at resistive 50EMA so will look for another entry at $30 later in the day, hopefully this time it will sell more convincingly to $29.
AMZN strong, AAPL consolidating; Internals consolidating but showing weakness; DRYS forming a pennant and looking for a breakout there in next 15 minutes.
Update 18:45 (13:45US)
Market is R I P P I N G !!
Move happened while I was making some dinner. Lots of volume came in and shot this hard as it dropped to slightly lower lows.
I'm sure all the charts look good but these ones look the best to me.
Man the market is still going after these screens!
0 comments:
Post a Comment