A Look At The S&P 500 & AAPL

Right here offers a good opportunity for many investors, who missed the recent run, to pile in stocks. As I noted on Friday, the S&P 500 did bounce exactly at the 50 day moving average. We also bounced when The PPT displayed oversold conditions, which in turn lead me to buy more stocks Friday before the bell. As of now, my biggest position is TerreStar Corporation [[TSTR]] .

Here’s a look at the S&P 500. I like the market as long as it stays above the 50 day moving average:

Here’s a closer look at the S&P500, Chart Addict shows why he is the addict, he has charted every single S&P500 component on his twitter account– check it out. Props to you sir.

Note: In case you missed it, Apple Inc. [[AAPL]] was upgraded at UBS to a new street high. The stock looks good here, and may be ready to take it to the next level. I like it above $185:

Asia is getting murk’d at the moment and futures are down a bit. Going through a few charts it looks ugly for a few sectors, one of which is agriculture. There are significant breakdown across the board with one of my favorites being Potash Corp./Saskatchewan (USA) [[POT]]

Also, watch for a bounce on the S&P 500 near the 50 day moving average @ 1,020:

No, really.

I have no idea how big of a market this is, but I found this note by Notable Calls interesting. Take a look

After pulling up the chart I must say this one could gain some momo. Before I get any further, I must warn you that these biotech names are liable to blow off your arm, especially a dollar name. Any piece of negative news with ensure a 50% loss of greater. So if you want to play this name, be very careful.

I will be looking to see if we have any follow through tomorrow morning:

In a bull market, I like to use weakness to buy strong stocks that pull back to former resistance. Let’s use Bucyrus International, Inc. [[BUCY]] as an example:

The stock broke out over $34 a few weeks back, since then the stock has not done a thing and is now hovering around support. This gives us a low-risk setup allowing us to place a stop right underneath support. If we are wrong on the trade we will be stopped out for a minimal loss.

BONUS: If the market does fall into the abyss here, this is about the best looking short setup that I’ve seen in a while, STEC, Inc. [[STEC]]

Yahoo! Inc. [[YHOO]] Still high on my list, we got a close above the recent high today, keep this one on your watchlist:

Tenet Healthcare Corporation [[THC]] is developing a nice pattern, watch for strength accompanied by volume for your entry:

[[BPZ]] I will buy this on further strength in oil:

Loaded up with Advanced Battery Technologies, Inc. [[ABAT]] @ 4.30. This stock smells like money, it is in the hottest sector, Henry Fool likes it, closing above the 50 day, and rumors are circulating about a partnership with Apple Inc. [[AAPL]] .

ABAT 4TW! See you guys tonight.