Thursday, February 5, 2009

Stock charts for Friday

Big big BIG NFP number at 0830 hrs may move the market (I'm on tenter hooks.)  Geithner has "the plan" for banks on Monday and that may actually be a bigger item.  I can't trade the financials with all the chatter going on, so I'll just stick to meat and potatoes TA for now.

Short idea:  GPS (2 graphs)  The first is the daily chart showing it drop below horizontal support (now resistance), but it's not dying easily and rallied over 5% today.

Short idea: GPS on the 30-minute graph shows it violating the downward trendline but still below horizontal resistance.  Be careful, the closing stop is 12.12.

Long idea: MRVL still looking marvelous.  Semis are leading tech and tech is leading the market (for now.)  LLTC looks good, too.

Short idea: AVB owns rental residential properties.  Is it sustainable?  Stimulus legislation may give incentives for renters to buy homes.

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