Scan a bit difficult tonight on finding good shorts. In case you didn’t hear Warren Buffet is going to invest $5 Billion (yes a “B”) into Goldman Sachs. This is going to give a serious lift to the market tomorrow, AAPL had a lot of selling pressure today more than likely related to Google’s new phone. Although it will probably gap and test $130 out of open it should provide many $2-3 dollar swings tomorrow as it did today. Watching GE currently at $24.95 for a move back to $26.
Many of the silver plays have an over extended chart and make great potential shorts. I’d watch for a gap and any weakness coming red should provide a 10-15% correction.
EXK should test $2.50 out of open its sitting at previous support/resistance in August ($2.50) I’d expect a gap and crap towrads $2.00
SIL watch for the test of $4 we are 300% off of bottom at some point soon the first big seller will cause a bit of panic and buyers will start taking profits, but as more and more money has been coming into gold and silver I’d watch for $2.50-2.60 to hold.
JAG – Tried out of open to test $8, but sold off throughout the day, I’d like to see it test it again but should move in sync with EXK and SIL
JOSB looking for a short if it can’t break through $40 again, should test back down towards $38s
DSL a nice cheap trading stock, big squeeze today before settling back, watch for move over $4 and weakness to kick back in, nearly a triple at these levels off bottom
MNKD we played at $3 looking for the gap fill and it’s almost done it – this does have room to run towards $6 I’m watching for dips on this one
Watching DRYS for a reversal $45.95
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September 24th, 2008 at 9:05 am
FOUR has also been on a tear lately
September 24th, 2008 at 9:16 am
Grabbed a few DRYS $45.715 avg
September 24th, 2008 at 9:35 am
GCHK our trade alert doing extremely well today currently at .86 keep an eye for the .90 break
September 24th, 2008 at 9:39 am
Watch DRYS for the $46 break – $45.50 average here with my add
September 24th, 2008 at 9:40 am
Nice $46 break squeeze but can’t hold it will take profit and watch for a new base
September 24th, 2008 at 9:50 am
basing $45 watching for the spike back up, GCHK great move so far today 25% gains!
September 24th, 2008 at 9:53 am
No base yet, next test 52 week low $44, sidelines for now is the best strategy
September 24th, 2008 at 10:22 am
A new 52 week low, this moves in line with QQQQ as well – EXM, GNK, DSX, TBSI are all in the same sector going to keep them all on my watch from here on out for potential bounces
AAPL there is something about the $127 level – it keeps coming back to it whether its under it or over it, its a magnet, reversal starting now on the Q’s lets see if it can maintain
ABK reversal watch off the $3.10s
September 24th, 2008 at 10:26 am
JOSB -5.00 or 13% short, beautiful!
SIL no squeeze and crap, all gradual so be careful with this one until you see weakness
DSL nice move over $4
September 24th, 2008 at 10:37 am
QQQQ needs to break $40.85 to reverse here, it has a triple top there at 9:40, 9:50, 10-10:05 and just now, once it breaks markets should rally, if it doesn’t we aren’t moving
September 24th, 2008 at 10:54 am
DRYS having a tough time breaking $45 while the rest of the market is breaking out safer to exit and watch ..
September 24th, 2008 at 10:59 am
$44.80 should be the stop this is holding up nicely
September 24th, 2008 at 12:44 pm
SIL great tank now at $3.57 – .60 cents or so off the highs
September 24th, 2008 at 12:48 pm
DRYS maintaining $45 range, watch for late date squeeze to green when the market turns up
September 24th, 2008 at 12:55 pm
DRYS over $45 with aggression, lets see if we can test green
September 24th, 2008 at 1:15 pm
SIL dropping hard!