Interesting

Interesting... With all the chaos in the markets, leading tech stocks AAPL, RIMM and GOOG all followed Fibonacci retracement rules.

Today's rally was insane with all the negative news. The economy is slowing, housing is in the dumps with no real end in sight for the subprime mess and yet the market just keeps coming back up after each knockdown. Very strange, but I havent gone through any euphoria cycles in a bull market. Maybe this is one of them.

Watchlist

ALXN,MA,CIEN,ESRX,GRMN,RIMM,PKX,ACH,RIMM

Keep a close eye on the Fed Beige book at 2pm.

Trades today

I got out of RIMM this morning for a 1.5% gain (~$160). I had intended to get out on any strength which is what I did.

THe sell off this afternoon, I think officially puts the bears in control. All major indices have broken major support levels and we are on track to test the August lows.

I was close to getting into QID this morning but was hoping to get a deeper pullback which never happened.

Watchlist

I have a stake in RIMM from Friday. i brought at 113.

The IBD 100 list has interesting charts in the following:
RIMM,AAPL,ISRG,FSTR,CPLA,SYNA,MA,NOK,WFR

RIMM trade today

I wet my beak with a 300 gain on RIMM this morning. I am still smarting from the AAPL loss last week, but I do know the mistake I made. I will post it later today if possible

AAPL mistake

What a stupid trade today! I had a 950 loss on AAPL for being over zealous for a bounce play. This thing will haunt me for a few weeks.

Watchlist 11/5/2007

Earnings this week

Monday: BKC, CAPA, MVL, MFLX, NXG, OMRI, TTI, TLCV, ASEI, APC, AUDC, CECO, CDR, DIVX, LOCM, and WMS

Tuesday: ABY, ADM, CTSH, EXPD, FTEK, LEA, TAP, NT, VLO, BEXP, INAP, and OVEN

Wednesday: DTV, FLR, FWLT, FTO, GM, MGAM, PLA, WNR, GRRF, CSCO, CTRP, FSLR, IO, JCOM, KNXA, NTES, and WBMD

Thursday: AIRM, CVC, CRZO, XTXI, FLO, F, RMIX, URBN, VG, CELL, CEPH, COGO, JDSA, MIPS, NVDA, QCOM, PCLN, and DIS

Friday: BRKS, CLWR, DRS, GG, JASO, IART, and SIN.