7:20 AM
Didn't have time follow up with the market after 2:25 pm yesterday. But overall, it held up well, though down a fraction. All my buying orders were filled. Basically, I am holding AAPL, BIDU, QQQQ, and DELL calls.
The pre-market is up this morning. From TA, I see no resistance for QQQQ to make new high. Watch out its breaking up. If it does, QQQQ should go up to at least 55 in the coming 2 months. The bull is very strong. GS had a good quarter even with subprime crisis. ORCL had a very good quarter which should lift QQQQ. "China" word is very everywhere. CHINAs, OIL, and QQQQ.
Today's Watch/Action:
1. SINA: It breaks out from a nice cup and handle formation, and is giving 15 minutes entry signal. Add small position at open for long term hold.
2. DSX: It is giving 5 minutes buying signal. Getting some at open for mid term hold.
3. BIDU is showing overbought in daily chart. But for a period, the stock went up strong with overbought signal along. So far, the minutes chart RSI shows fine. Watch it closely.
8:00 AM
After study, No SINA, it has past its entry point at 36 already.
Add SNDA oct 40 calls whenever it is dip to $.20 (20+20+20). At 33, SNDA is a very good buy, stop at 31. Target 48.
9:00 AM
Strong call INTC oct 27.5 (50+50).
10:30 AM
Market opened up strong and held up well. I have sold BIDU's calls, but showed with a little bit of greed. Again, if the signal shows, sell with market order.
Didn't get chances to load up SNDA's call. It went up like crazy. Added calls of INTC.
The market is healthy. I will evaluate around 2:30 pm.
1:50 PM
I am out of all short term calls. The market is done. Traders are going home and having good time. No Options trades in Friday afternoon. Watch carefully how the options get expired.
4:00 PM
Finally got in some SNDA oct calls. Meanwhile, sold its stocks.
Again, Market can't go straight. I think next week we should see some weakness at very beginning.
Next week focus on ADRs and International companies, pure US companies will have little bit hard time here.
Happy weekend!
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