Tuesday, January 27, 2009

AAPL, Oils and Gold

Yesterday was kind of a difficult trading environment for me. We rallied hard at the open, especially oils and some gold names which sold down with the market later in the day. Markets still managed to close positive, however we are somewhat in no-man`s land and I am waiting to see some meaningful direction with volume. From the stocks I watched CLR acted best with almost a 2 $ move up from the level I mentioned. AAPL hit my number yesterday, moved slowly up to 91 which is resistance and coincides with the down-trendline, did nothing there and came back later in the day. However the major number now to watch is 91. A break with strong volume would get me long this name. Beside this I don`t see to many set-ups right now. Not sure where the oils and gold stocks will go today, the charts are not yet broken but a rest could be in.

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