AAPL finally broke the 208 level today and it was the first day in quite a while that it felt safe to be short. With that said this market is still amazing resilient and selling breaks of support is still a very tough game. The only way to really have taken advantage of the weakness was to sell strength and failed breakouts, and that is generally not my style.


The market may only be taking a breather here because the technical damage was contained. AAPL is still above the 20 day M.A., GS is still above its 150 day M.A. and GOOG sold off but held its 50 day M.A. Important ETF’s such as IWM, IYT, MDY, QQQQ, RSP & SPY are also still above their 20 day MA. These are just a few examples of some high profile stocks and ETF’s I will be watching as market tells.

I have been watching the VIX index etf recently and it put in its first green bar in 7 sessions today on massive volume. So it looks like we may be in for some more volatility ahead.

I only have a few ideas for tomorrow because I want to see if today was a one day wonder, or if we have more weakness ahead.

These ideas are all longs so don’t chase look for good volume, relative strength and use reasonable stops.

amx 50

axp 42.5

pru 55