Wednesday, November 10, 2010

Market Talk

Tomorrow should be interesting as CSCO stunk up the AH session with uber-lame earnings.  We'll be watching the leader techs to see if they can hold up (NFLX AAPL AMZN BIDU -- even a flat session would be a win).

CSCO 20 has some serious support -- we'll be buyers of FIRST test on that level.

SMH 29 retest would get us long.

GDX held that 59 support today but we think it's a matter of time before it tests 58 --we're buyers of first test of that level. 

Love SLV 24.5 zone -- we're buyers of first test of that level. 

 We're buyers of first test of OIH 122.

IYR reversed somewhat on trend-line as it held yesterday.  Next visit on the trendline though and we think it will go give the 50SMA a kiss. 

We wrote that we'd be buyers of the 15 re-test in our newsletter last night and posted this morning that we were long on the re-test.  We took off some of the position in the afternoon but are still swing long XLF.