Morning update:
Retailers are down 1.3%, Banking 1.75%. After hitting that 2041 level, NQ drops below yesterday's close. Gap and crap on the way? I doubt those QQQQ May 50 calls will close in the money. This is not going to be hard to push down, now that every short with weak hands got squeezed yesterday. We could very well erase yesterday's gains in one session if NQ cannot hold 2029, weekly R2. Watch any bounce from 2028 that goes to 2035 and fails.
INTC stalls right at 25, an area loaded with calls. That fits right in with QQQQ 50. This stock has huge call volume during tech rallies, so watch it for any sign of weakness.
AAPL January gap close is 194.93.
Retailers are down 1.3%, Banking 1.75%. After hitting that 2041 level, NQ drops below yesterday's close. Gap and crap on the way? I doubt those QQQQ May 50 calls will close in the money. This is not going to be hard to push down, now that every short with weak hands got squeezed yesterday. We could very well erase yesterday's gains in one session if NQ cannot hold 2029, weekly R2. Watch any bounce from 2028 that goes to 2035 and fails.
INTC stalls right at 25, an area loaded with calls. That fits right in with QQQQ 50. This stock has huge call volume during tech rallies, so watch it for any sign of weakness.
AAPL January gap close is 194.93.
This entry was posted
on Friday, May 16, 2008 at 5/16/2008 09:42:00 AM.
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