Tuesday, May 15, 2007

20070515 Tom PM

DJIA 13,383.84 +37.06
NASDAQ 2,525.29 -21.15 Going to May 1 swing. Going lower.
S&P 500 1,501.19 -1.96 Going to 1363 then can go lower.

This is not just a correction, this is a bear market and the highs are in. The fast counter-trend bounces (like today) are there to force shorts to cover.

AMAT 19.78 -.64. Failure. Going lower. Numbers.
IAG 7.07 -.22. 6.44 can be tested.
HL 8.43 -.06. Has support at 8.23 from February 21.
VZ 42.54 + .94. Hold if long.
BTU 50.41 -.29. Buy around 46.7.
RRD 42.03 -.83. Going to 38.
SBUX 28.39 -.51. Selling volume is accelerating. Can go to 23.
CSCO 26.13 -.16. Gapped down May 9, that high was 27.09. Let it go back up to that price, close under that price, then think about shorting. Has large support at 24.

GOOG 458 -3.78. Sets direction of weighted average nasdaq index. 452 is next level.
ARM 20.64 -.11. Not yet a short though consolidating and fill gap to 19. Wait for April 26 high volume up-day retest and failure.
AAPL 107.52 -1.84. Came off high with some volume.

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