Stocks: CTT CNC VSCI WMG RGN UTEK AOB UBET SSBX AAPL

AAPL tested back to $178-180 as we thought tomorrow may still want to knock out a few more stop losses. This dips are healthy it allows the stock to consolidate at a much higher level than last month gaining a new bottom for the next move higher. This may want to test a few stop losses and shake out the weak down to high $170s ($175+)

VSCI from breakout scan many times, tomorrow is the big test of $6 (first attempt). This has been very well supported throughout the week, it’s not a quick move in just one day its been slow throughout the day as well, dips continually bought out. Watch for a spike over $6.

SSBX bounce watch currently $2.23 watch for any dips out of open and this may turn into a .50 to .75 bounce.

CTT - Watching for the $2.50 break this is turning into quite the sustained move, I thought it would correct around $2.00’s but keeps taking out new highs on this run. Watch for a quick squeeze over $2.50 and then I will start thinking about the short side

CNC - Watching for a $19.50 break otherwise this may head back to $16-17s over the next two weeks

WMG - We’ve discussed this one quite a bit - it has finally snapped $9.00 but unable to get a good squeeze going watch for a sell off down to $8 if it can’t gain any momentum on a $9.15 break

UTEK - Very bullish move but beginning to be on the back end of the move… will start watching here for any sign of weakness to ride it back to $13

UBET - Doubler, always on watch to see if there’s any follow through

AOB - Nice +2 spiker today, $12 gap is potential - currently at its last resistance

VIT - breakout out, watching for a gap and run to potentially short on, on a slight correction but this could be a major move beginning

IAR from scan today broke through the days highs at $4.60. It appeared very strong into close. This should be in play and test $5 tomorrow. This is the biggest volume days in months, and first reversal in about 6 months, so this way have some legs…

WSCI if you played it, great job on the bounce. The easy parts over… on the $13 break it moved to $14.15 and ended +1.13 on the day. This may gap and consolidate tomorrow but IMO, the easy parts over. On a $14.15 break this may test $14.50-$15, otherwise it will probably consolidate around $13.50 and not be worth the trade.

JRJC up $2.00 today, that’s why its so important to watch for the consolidation at higher levels and breakouts above previous resistance. This stock should test $25 IMO.

WMG on the verge of breakout
BONT stuck under $10, break = squeeze, fails to break = short
HA down a buck today unable to break towards new highs
All charts viewable HERE

AAPL on the verge of a +5.00 day or a correction back to $178-180

MA made it to $300!
MMR finally made it to $30

Is the market getting toppy and time for a brief consolidation period or are we just getting started?

First and foremost, no I do not want the market to top, I’d love it to keep going up up and up and never look back but unfortunately that’s not the way things work. We must face squeezes, pull backs, consolidation phases, force panic sells, force short covers, all part of what goes into the building of the charts you see below and give us technical traders something to shout about.

Do I think top for a lot of the big boards is tomorrow? Not sure.

TWO SCENARIOS.

First: Yes I do because such a strong day today should be followed by a gap the following day. This usually encourages profit taking, and if a domino effect occurs could start a sell off through the day.

Second: After such a good week I doubt any one at wall street wants to end the weekend on a down note so they may be rather optimistic heading into the weekend and we see even more squeezes tomorrow setting Monday up for the big gap and crap day. (Keep in mind this is not by any means saying its topped for good, as I said pull backs are healthy and help long run sustainability).

GOOG - as I’ve said once this consolidates its going to have a magnet towards $600, ok we are $7 dollars away .. what now? What happens when it hits $600. Are investors content? Do they move on? Exactly! Sure we’ll probably see upgrades back to the $650 to 700 range we’ll probably see a squeeze Friday or Monday over $600 but then what? ……. It’s going to need to consolidate. ($610-620 possible on a good squeeze - but will test $585-590 after any big squeeze like that IMO)

More GOOG blogs HERE HERE

MA - Again another psychological target $300 right away the first thing you think of when its breaks into the higher half of $200 (aka $250+). $310 possible on the squeeze then to retest under $300 ($285-290)

More MA blogs HERE HERE and HERE.

RIMM - The big break all along that it can’t get is $130 this one may be a bit different. It’s been consolidating each move it makes. $130 seems like the top here, once it breaks… peoples eyes will be glued to $150 and RIMM will be well on its way to becoming the next $200-300 dollar stock.

More RIMM blogs HERE HERE HERE and HERE

BIDU has been having a bit of trouble lately breaking out too much (probably because of the gains its been holding without a dip for the past month). If the markets dip this will restest $355. If it continues to consolidate the big break here is $380.

BIDU blogs HERE

Scan for Friday

Here’s a mid day update with quite a few movers today. Many of the big boards are moving positively towards the fed rate decision.

Visa and MasterCard broke out to all time highs this morning!

GOOG - Beautiful week long consolidation before breaking out, $600 magnet

BIDU - $400 is a magnet

V - What a move $85 break can really move this but it may need to correct, consolidate and then make its move towards $100

AAPL - squeeze trigger $180

BWLD

ALGN

ESMK

IACI reversal watch

IBM watch for consolidation around the $120-$122 level, breakout is $125

KRY - Huge tank after being halted this morning - many traders in chat caught a .40 cent bounce, congrats. Join us in chat if you haven’t already, all it takes is one day and you’ll be hooked!