NVDA

I mentioned it over MSN yesterday.

The strength of Biotech

I am surprised and encouraged by the strength of the biotech index. If this pullback is over, it will be the place I am going to park my money at.

Open

The major averages quickly sink to the lows, 2110 on the Nasdaq is my bottom line. I will look for longs if it holds.

Update: crude oil

Remember what I said about crude oil? I won't turn bearish until I see it closes below the blue trendline.

biotech

So does Biotech. They are my tells of the momentum plays.

Semiconductors

Semiconductors is holding support so far, which surprises me a bit, since Asian markets all showed weakness last night.

Morning

I don't really trust this morning's bounce. Time is still early, the strength could be gone by mid day.

Past trades for the week August 22nd

bot isrg @ 73.52, sold @ 75.71, net 3%
bot nvda @ 29.42, sold @ 28.95, net (2%)
bot wssi @ 15.45, sold @ 17.65, net 14%
bot itwo @ 23,17, sold @ 21.8, net (6%)
bot itwo @ 23.17, sold @ 23.21, net 0%
bot amzn @ 45.21, sold @ 43.4, net (4%)
bot isrg @ 76.17, sold @ 78.02, net 2%
bot bidu @ 77.07, sold @ 75.87, net (2%)
bot bidu @ 78.9, sold @ 83.13, net 5%
bot ctty @ 16.46, sold @ 18.25, net 11%

NASDAQ

If it comes back below the blue trendline, which will put me into a bear, I will not define it as a pullback any more; it will change the whole intermediate term trend.

Down

This morning the Nasdaq is joining the Dow, they are breaking on the downside. 2094 is the support area.

Sentiment

The market continues its weakness with lack of interest. The good news is we have growing bears. According to AAII, bearish percentage is now at 25%.

Financials

Banking index is about to break the support that will certainly not help our weak market. Stay defensive.

BOBJ

It has been on my newsletter for two days, breaking out today.

Update: AAPL

AAPL, one of the market leaders, continues to shine.

Morning

The market is still on the weak side, I guess we will not see any real action until after the Labor Day.

BRCM

I like BRCM here.

Update: MNTA

MNTA seems a sucker rally, out.

BIDU

I recommended BIDU at $86 over MSN today.

Update: ISRG

I have been bullish on ISRG for days and it has been featured in my newsletter several times recently.

MNTA

MNTA triggers another buy signal today. It was in my last night's newsletter.

Retreat

This morning's rebound met heavy selling again. Now we have red across the board. The bulls are surely disappointed.

Crude oil

Check out the article at http://carlfutia.blogspot.com/2005/08/running-on-empty.html. It makes perfect sense. But for me to be bearish on crude, I would wait it to come down below $63. Right now? It looks like a perfect upside breakout.

Update: WSSI

WSSI continues its uptrend.

Update: IDBE

My old pick, green arrows are my buy points.

Bounce

As I pointed out on Friday, the charts still look ok even though we have been in pullback mode for weeks. This morning we get a stronger bounce. It is still early to call that we have seen the bottom, but this strength is certainly welcome and good for the bulls.
http://uclatrader.blogspot.com/2005/08/update-semiconductors_19.html
http://uclatrader.blogspot.com/2005/08/update-biotech.html

Past trades for the week August 15th

bot bobj @ 33.45, sold @ 32.9, net (2%)
bot mnta @ 23.61, sold @ 28, net 19%
bot ctty @ 14.33, sold @ 16.5, net 15%
bot ctty @ 20.14, sold @ 16.5, net (18%)

Update: biotech

Biotech is consolidating its gain at 40 day moving average area. A break above 623 will put it on the run again.

Update: semiconductors

Semiconductor is holding the breakout point, it looks like it is going to resume its uptrend.

Update: financials

Banking index is still holding support.

Weak bounce

The market is trying to recover a bit from yesterday's selloff. So far it does not impress me.

Weakness

Semis pulls down financials, the weakness continues. My bullish bet is off.

Bulls are getting tested

With major averages at the lows of the day, my short term bullishness is getting tested.

Retailers are getting killed

These are charts of AEOS, SHLD, BEBE. Avoid.

Splitting market

Semis on the downside, banks holding well, who is going to win? My fingers are crossed.

Trend change?

With BKX, SOX, BTK all bounce today, with the breakouts I see across the board, I think I could say the short term pullback may be near the end. I turn to short term bullish.

ITWO

I mentioned it over MSN last Friday.

GNSS

Another long candidate has buy signal triggered today.

MSTR

I mentioned it last week, it now clears the resistance.

Update: AAPL

AAPL is approaching $50, which will be my sell point.

Open

The market is still in a downtrend, even though some individual stocks are showing some early strength.

Past trades for the week August 8th

bot homs @ 3.79, sold @ 4.02, net 6%
bot pact @ 8.67, sold @ 8.4, net (3%)
bot isrg @ 72.3, sold @ 71.62, net (1%)
bot shoo @ 23.32, sold @ 23.39, net 0%
bot boom @ 44.22, sold @ 45.3, net 2%

WSSI

I mentioned it over MSN this morning.

AAPL

It has been featured in my newsletter couple of times this week, finally breaking out today.

NVDA

A semi leader, I mentioned it over MSN this morning.

Open

The market continues its slide. The only bright spot I can find is the China related stocks, like NTES, SINA, SNDA. I think the rising value is related to the investment Yahoo made on Alibaba, which seems pretty pricy and makes other Chinese company look cheap suddenly.
http://biz.yahoo.com/ap/050811/china_yahoo_alibaba.html?.v=22

bearish

This morning's tiny bounce does not change my bearish stance. Other than that, nothing new to report.

LMIA

I mention it over MSN this morning.

Update: banking index

Banks successfully tested the support, and bounced.

SHOO

It was featured in my last night's newsletter. Breaking out today.

Out

I am going to be out of office this morning, so there will be few post.

ISRG

It was featured in my newsletter last night.

Update: OLGR

Usually I like taking at least some profit on a huge gap up, like this morning.

OLGR

It was featured in my newsletter last night.

Crude oil

Crude is breaking out today.

Retreat

I think this pullback will bring the biotech index down to 590 area that will be a good buying opportunity.

HOMS

It was featured in my last night's newsletter.

Past trades for the week August 1st

bot ford @ 23.2, sold @ 27.58, net 19%
bot ford @ 25.34, sold @ 27.58, net 9%
bot crm @ 23.6, sold @ 22.87, net (2%)
bot aapl @ 44.03, sold @ 43.31, net (2%)
bot cnet @ 12.12, sold @ 12.85, net 6%
bot iiji @ 10.66, sold @ 10.33, net (3%)
bot ebay @ 43.41, sold @ 44.18, net 2%
bot amzn @ 46.22, sold @ 45.28, net (2%)
bot cymi @ 35.49, sold @ 35.36, net (0%)
bot able @ 18.22, sold @ 17.91, net (2%)

Nasdaq

Nasdaq has its first sell signal.

Financials

Banks has been on sell signal for some times, now it is approaching support. I think it will bounce.

Update: BOOM

Lesson: never be afraid to get back to a losing trade. I have been stopped out of BOOM more than one time. Today I get it all back and plus some.

Interent index

Update: ECOL

A breakout play should never come back to its trading range.

Update: BOOM

BOOM performs well after it broke out.

Update: GEOI

GEOI is ready to burst through.

Update: semiconductors

Semiconductors is leading the Nasdaq.

Not so good

Good

I have been recomending AMED since last two green arrows. Gap up over 4 pts this morning.

Update: BOOM

It finally breaks out today after so many fakes.

Update: CRM

CRM continues its uptrend.

Update: AMED

AMED is going to challenge its high soon.