Looks like the bounce continues….some profit taking today, including me. Overall it was a good day. Look for some more upside next week!
The techs took a beating from the GOOG and MSFT debacle, but that will turn around in a day or two. Many charts looking good and prices moving above their 8ema. I’m salivating!
Have a great weekend!
Wow, two 200+ up days! Is that a bounce or what? But is it over now? I did close out all my positions and am back to cash.
I also expect a gap down in the QQQQ because of GOOG and MSFT and other tech stocks. But also because it bonked its head on the 20-day and 500-day moving averages. The Dow and S&P still are looking pretty strong, on increasing volume, so maybe the market can recover. Those earnings reports after the market closed were nothing to write home about….although I thought IBM was pretty good.
Tomorrow we have C starting the day and HON, SLB, MAT, and MAN among others with their earnings reports. It’s also options expiration. I do expect some consolidation / profit-taking, but I don’t want to see it go back to the lows. The charts are looking good and we’ll just have to see what fortitude the bulls have. Happy Trading 
That’s all you had to do today….play the airlines and the financials. Did you make money? The best day since May for me 
The first hour was choppy with good earnings and lousy inflation data, but once the build in oil was announced, we never looked back. Will we follow through on Thursday?
I’m still in my financials, ABK and MBI and was in and out of the airlines, UAUA, CAL and AMR. The QQQQ Sept calls are still percolating.
Big, big earnings tomorrow that can push and pull the market in any and all directions. Some of the biggies are GOOG, MSFT, KO, JPM, MER, IBM and a whole bunch more….one of the biggest earnings day. And the news: Building Permits, Housing Starts and Unemployment Claims..May be a crazy one….hang on 
We started down and never turned green, even for a moment. It wasn’t real bad, but you would have thought the indexes would have had a bit more up and down action. (CRY) and (AAV) were winners, as was (IDMI), but (DVAX) gave some of last Friday’s gains back.
(YHOO) dumped in the morning but came back throughout the day, so it didn’t do too bad, down 14%. And (MSFT) didn’t do as well as I thought ending in the red, but it came back after hours.
I haven’t gone through today’s charts yet, so I don’t have any new ones to watch. But maybe by morning 
Looking at the Dow and S&P charts. they both pulled back to the 8ema in the first part of the week and then rocketted off the 8 for Thursday and a mild up on Friday. Well Friday was a gangbuster in the morning, but soon dwindled, but still ending in the green.
(XRM) (DVAX) and (AVR) were all winners and will look for more gains on Monday. A couple others I’ll be watching: (CRY) (INCY) (LSCC) (AAV) and the watchilist in the sidebar. Biotechs and Drug manufacturers are looking like they want to move up in general.
It was disappointing that the indexes could not hold on to the morning rally on Friday. So there is some trepidation, but I’m writing it off to the normal Friday afternoon selloff so as not to hold over the weekend. Microsoft (MSFT) and Yahoo (YHOO) will be interesting, with of course (MSFT) moving up and (YHOO) moving down. And I expect (YHOO) to move down much more than (MSFT) will move up
Happy Trading y’all.
Microsoft (MSFT) walks away from Yahoo! (YHOO)…a negotiating tactic I expect, but in the interim, my Jun 30 put options should be golden on Monday. Yahoo! You’ll see hundreds of news articles on Sunday, but the first I found was on Yahoo itself…isn’t that ironic
Do we know what a “normal” day in the market may be? MSFT going after YHOO just blasted the futures up. Now there is some anticipation of just what the Jan. employment numbers will show….and depending on those numbers, MSFT/YHOO deal may be the leader. At a 62% premium, I’d say YHOO shareholders are waking up thinking they’ve just had a wet dream
GOOG must be running around wondering if MSFT/YHOO can be serious competition, especially after yesterday’s less than expected earnings. And what is this going to be worth to the market today? Is Dow 13,000 in sight?
My watchlist today: COGO BONT EFII, and I may add on to: SCA and MNTA.
Happy Trading!