Update: DESC

After its breakout, it continues to climb.

Morning

Yesterday it was a solid reversal day with heavy volume. Now I am looking for the strength to be continued.

Alan Farley

I made some comments on avoiding overtrade earlier this week. I had this thought, but did not put it on a piece of paper, and did not sum up a guideline. Now Alan Farley, the commentator at the Street.com, seemed to have heard my calling and wrote an excellent article on this subject. Since some readers don't have the subscriptions of the paid website, I will just post his points that I totally agree on. The only thing I omit is Talk to your spouse, which I don't see any benefit out of it. For the detail, please go to http://www.thestreet.com/p/rmoney/theswingshift/10245009_2.html

1. Create a trading diary
2. Review the environment
3. Study the charts
4. Don't try to get even
5. Walk away
6. Study your winners

Update: KONG

KONG remains strong after the breakout. Keep an eye on TOMO.

CNVR

Intrady breakout. I mentioned it over MSN this morning.

Update: REDF

Finally I can upload the charts. It has been in my newsletter for two days.

Technical problem

I had difficulty to upload the charts this morning. Anyway, today it looks more promising. I think we may see the short term bottom.

HAWK

Breaking out today. It was featured in my newsletter two days ago.

WITS

Breakout intraday, I recommended it over MSN this morning.

BKX

Banking index is testing the low, it looks like it is going to resume its downtrend. Not good for the general market.

Retreat

The major averages quickly sink into red. The Russell 2000 leads the way down.

Morning

The major averages hold the low formed earlier this week. The most bullish tech indices is NWX-networking index. Traders may want to study further on its components.

BIDU

BIDU starts a leg down? It could be really ugly. I will not touch it, maybe a little short?

DESC

Breaking out intraday. I brought it up over MSN. Please check out its weekly and monthly charts as well. Very bullish stuff.

Workstation

This is my friend's workstation. He is a future trader. I will interview him in the near future, when he is available. Maybe he will probably agree to unveil some his trading methods.
I am looking forward to it, are you?

REDF

I mentioned it over MSN this morning. Our former play. Love it.

MNTA

Another pick from last night.

Update: semiconductors

452 is the key. Below that, we are going down, baby.

Update: TOMO

Green arrow is my buy point.

Open

The Nasdaq and Russell 2000 have been lagging the Dow in the recent runup, which is definitely bearish. Also the volume on the up days are lighter that is not helping the bullish case either. Even though I see some momentum plays are jumping, I say be patient. Don't get trapped.