Surprising earning results from Apple and Yahoo yesterday. Yahoo’s profits fell YOY but the stock headed up 5%. Apple did not meet forecast but profits were up %50+ and the stock took a tumble…..hum. With Apple accounting for 14% of the QQQ as this is market cap weighted we should see a fall. So I expect the market to relax a bit and give up from the big run. I’m bearing the next few days and bought QID and TWM.

I also shorted NOV and POT.

The SPY is a little long with 6 new high days in a row. Yesterday we tested a high of 122.14, eased and came down today a little. I’d love to test 114 again and enter long. To play the downside I bought the QID which is the short of the QQQ ETF.

Long plays

• CREE @ 29.46 (stop 28)
• RAX @ 39.60 which broke out of resistance of 38 (stop 38)
• QID @46.47 (stop under 45)

Short plays

• POT 49.44 (just above 50) with target of 44 to cover.

Below is a chart of the SPY weekly chart and I drew a channel connecting the highs and lows over 3 years. As you can see there is a pattern that can be seen.  The first circle on March 2009 was the bottom of that bear market decline and we had a big run for almost 2 years. The next circle is where we are today also touching the lower trending channel. Plus one bonus the green moving average is showing support and were turning from flat to up.

So are we at the bottom of the current decline? I think we might be and a good time to take some long positions. Remember to place stops just in case.

Morgan Stanley is very bullish over Google’s new Instant search product. The 2012 price target is $730 and a bullish upside of $830 and a downside of $480…if things don’t go so well.

Got stopped out of $VISN today. If it breaks past $3.46 then it heads down to the low of $2.51.

Apple ($AAPL) is a buy at these levels $313 with the blue up arrow. stop is below low at $297 at the swing.

Continuing to hold BIDU, VISN, AMZN, DRYS. Overall volume was low on Friday which is expected as we get into a holiday week being Thanksgiving this week. Typically holiday weeks are positive for the market.

BIDU on Oct 22 had a big day of volume if price breaks below 103 then sell.\

VISN pulled back but volume was low which is fine. Hold.

AMZN could not break the high of 165 and just hit 164.99…huh!! This may pull back to 160 then head up.

DRYS pulled back on low volume compared to Nov 18 and Nov 11. If it break $5.00 then sell. Below I show the weekly chart of what I think will happen in the next 2 weeks.

Overall market was down today on lighter volume than yesterday. Taking a low risk trade here as BIDU near 50day MA. Stop is $103.

China Vision (VISN). Stop is $3.30 and limit sell is $4.95

SOHU +8.47% Gain today

DRYS +3.41%

OCNF +0.93% nothing to sneeze at but I bought at $0.93 and it’s now $1.09.

$AMZN – is ready to buy and wants to break up to $190. I bought this a few weeks ago around $160-ish. Keep stops under $155.

JASO popped up 5.25% and wants to head to $10. MACD looks positive with high volume today.

Wow, CSIQ gained 8.53% and huge volume as I was hoping. Next target is $18.

The market has been trending nicely up and fairly smooth. Today I bought AAPL, SOHU, DRYS, JASO, and CSIQ. The shipping and solar sectors look strong.

SOHU spiked up on 10/25 because of strong earnings and forecast look strong. There is little selling with low volume. Keeping tight stop under $72.



DRYS good volume spike on 9/28 and as the price decrease so does the volume which is nice. Price starting to turn and both MACD and Stoch are turning up.