Wednesday, June 17, 2009

I have a sneaky suspicion...

The chop and slop is about to end...

Get ready for some very good trading, both ways, folks.

Keep the powder dry. Today RIMM reports after the close, watch the action on RIMM as a near term barometer for how AAPL, GOOG and the rest of tech should act post earnings. It's unlikely RIMM won't blow out, but the stock has doubled into earnings, so does the stock go to $100s, or at least get a move up, or does it sell the news? This is a KEY earnings report.

Friday is options expiration, as I discussed in the free class today they should be angling to pin momentum stocks to strike prices (and boring stocks as well). You should be watching levels to get a favorable risk/reward.

Watch GOOG here as well, that MSFT news is NOT good for GOOG, MSFT at least initially is cutting into GOOG market share with BING and if that trend continues then GOOG's days as a $300 stock, let alone $400 are nearing an end. I still think it'll happen anyway, but BING could put GOOG on a fast track down. WAY down long term.

I'm not going to talk politics or angst tonight, I'm beat and its boring even me, hehe! I still feel the same way, and I still think I'm right, but I'm just a Waxie and no one wants to listen to a Waxie! :)

Banks are at a critical juncture here. If they can not bounce here and into end of month (I think they get a bounce at least for that) they should be toast. Do you realize that BAC has gotten so many upgrades that my head is gonna spin off if they get any more! And yet the stock is DOWN during that time period and can't bust out. Stock is $12.30 and the other day they got a $22.50 price target. I'm not sure, but I think just about every major brokerage has upgraded them to a buy recently and nothing. That's a dead tired market, folks and we need to respect that. Having said that, we should bounce here today or VERY shortly as fund managers look to buy the dip. We shall see!



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