A Cajun Update

So, what do we have here? Lehman Brothers Holdings Inc. [[LEH]] broke down as predicted. Oil [[USO]] continues to trade lower, and Apple Inc. [[AAPL]] continues to march higher.

What have I been doing…

Ever so quietly I have been building a position in Chesapeake Energy Corporation [[CHK]] down here, I have also been building a position in [[SKF]] . I have a core position in Celgene Corporation [[CELG]] , but do not plan to add at the moment. I am also watching my RIMM position suck wind, while AAPL marches higher.

I may trade out of RIMM for AAPL, I love the strength in the name.

Two new additions to the trading portfolio yesterday:

Amazon.com, Inc. [[AMZN]]

Canadian Solar Inc. [[CSIQ]]

Nothing has changed in my view for the market– same ol’ volatility. I will continue to focus on my fantastic four: (CHK, SKF, CELG, & RIMM AAPL), while searching for breakouts.

As for AMZN, it’s headed for $100, and that will be my exit. CSIQ will be sold after earnings tomorrow morning.

Have a good day, I’m busy.

Before getting drunk and buying stocks again, watch Lehman Brothers Holdings Inc. [[LEH]] . It is on the verge of a significant breakdown.

No way the market rallies if LEH breaks down.

[[SKF]] This is a smaller position size, as I am building a position in the name.

Thanks to Amazon.com, Inc. [[AMZN]] my week is off to a great start. I got in about the same time Alpha did, and would like to thank him for highlighting the trade over the weekend.

If you look at two of the charts I posted last night, you can clearly see how well charts work.

AMZN – BTFO of a huge triangle pattern

GEOI – bounced perfectly off the 200 MA

Charts win again.

Top Pick: Research In Motion Limited (USA) [[RIMM]]

If financials look weak short Lehman Brothers Holdings Inc. [[LEH]] , or buy SKF:

If tech looks strong, I like Alpha’s pick Amazon.com, Inc. [[AMZN]] :

If oil looks strong get long USO, or GeoResources, Inc. [[GEOI]] :

Monday:

• Capstone Turbine Corporation [[CPST]]  
• Excel Maritime Carriers Ltd [[EXM]]  
• Fluor Corporation (NEW) [[FLR]]  
• LDK Solar Co., Ltd. [[LDK]]  
• McDermott International [[MDR]]  
• PDL BioPharma Inc. [[PDLI]]  
• Petroleo Brasileiro SA (ADR) [[PBR]]  

Tuesday:

• Dendreon Corporation [[DNDN]]  
• GigaMedia Limited [[GIGM]]  
• JA Solar Holdings Co., Ltd. (ADR) [[JASO]]  
• NVIDIA Corporation [[NVDA]]  

Wednesday:

• Canadian Solar Inc. [[CSIQ]]  
• Deere & Company [[DE]]  
• Dr Pepper Snapple Group Inc. [[DPS]]  
• GeoEye Inc. [[GEOY]]  
• [[M]]  

Thursday:

• [[RICK]]  
• Sociedad Quimica y Minera (ADR) [[SQM]]  
• Syneron Medical Ltd. [[ELOS]]  
• Wal-Mart Stores, Inc. [[WMT]]  

Friday:

• Abercrombie & Fitch Co. [[ANF]]  
• J.C. Penney Company, Inc. [[JCP]]