Hooked Up

The Internet is here! Mrs. Cajun and I are in the process of moving into our first home, needless to say it has been a little crazy this week. The good news is Cox communications finally got their act together and hooked up the Internet.

I won’t even attempt to comment on the market here, as I feel out of the loop. However, I will say one thing , The Swine Flu is about to BTFO ovah here. It seems like everybody and their momma is attracting some sort of the Flu. While it’s true you might get ACAD’d looking in biotech, I would bet the swine flu trade is no yet over.

As for my positions, I hold mostly cash. I still hold my favorite oils Stone Energy Corporation [[SGY]] & W&T Offshore, Inc. [[WTI]] , but was stopped out of Western Refining, Inc. [[WNR]] as the double bottom failed. I bought some Sonus Networks, Inc. [[SONS]] yesterday in the low 2’s and still hold Chuck’s fav [[IBGH]] . Things should be getting back to normal pretty soon, and I plan to come back firing!

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I bought [[OCLS]] @ 2.68 (noted in The PPT), I will stop myself out this position with a close below the 50 day moving average (currently @ 2.64)

Here is the chart:

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I will be moving into a new home today thanks to all the coin I have collected over the summer. It looks like I will miss an eventful day with the futures getting spanked. However, I would not be surprised to see the market finish green at the end of the day.

I will leave you guys with a link to The Option Addict’s watchlist.

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The New Orleans Saints will win the Superbowl.

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Stocks I will be watching tomorrow:

I am a buyer of Tenet Healthcare Corporation [[THC]] on strength. 30 day chart

Western Refining, Inc. [[WNR]] I LOVE DOUBLE BOTTOMS! (I’m Long & Strong)

[[ZN]] This one can get moving, keep it on your radar.

Amazon.com, Inc. [[AMZN]] Low risk entry, buy with a stop below the 50 dy moving average:

salesforce.com, inc. [[CRM]] looks great, buy with a stop below $51.39

Intel Corporation [[INTC]] will BTFO with the news from Dell Inc. [[DELL]] . I am a buyer:

Look at Nokia Corporation (ADR) [[NOK]] trying to breakout, I like it:

NVIDIA Corporation [[NVDA]] is ripe, this one will rip tomorrow:

Palm, Inc. [[PALM]] Double bottom, stop @ 12.45

Research In Motion Limited (USA) [[RIMM]] . Here is another low risk play, buy with a stop below 50 day moving average @ $72.79

SanDisk Corporation [[SNDK]] Another BTFO candidate

VMware, Inc. [[VMW]] is out of here, HIGHER

Ciena Corporation [[CIEN]] Here’s another one that is going higher:

priceline.com Incorporated [[PCLN]] It is amazing the amount of long setups out here, another one breaking out– HIGHER:

Advanced Micro Devices, Inc. [[AMD]] I’m a buyer above $4.25:

ANADIGICS, Inc. [[ANAD]] Another Fly name I like, possible failed head and shoulders pattern, HIGHER:

[[CNXT]] Next leg up:

Note: Marvell Technology Group Ltd. [[MRVL]] & Dell Inc. [[DELL]] broke out in after hours trading. Watch for strength across the board in tech.

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The market looks like it may have formed a double bottom intraday, if you are looking for longs, now is a good time to enter.

SPX 5 minute chart:

I am playing TerreStar Corporation [[TSTR]] , bought here with a stop below today’s low:

Note: Citigroup Inc. [[C]] has been strong all day, which leads me to believe we may gain some strength in the overall market today. BTFO over $5.

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I can’t say enough about the strength of the market, I thought for sure we would trade lower today, but somehow ended positive for the day. Lucky for me, I was busy and missed out on the whipsaw action.

The shorts I highlighted yesterday are still valid should the market roll over, however tonight, going through a few scans, I am noticing a bunch of setups on the long side.

I still think the best strategy going forward is to look for breakouts, while being quick to take profits. A few I will be watching tomorrow are as follows:

Marvell Technology Group Ltd. [[MRVL]] looks to be breaking out to new highs, I am getting long on strength:

I like Fly’s top pick TerreStar Corporation [[TSTR]] above $1.48

PetroQuest Energy, Inc. [[PQ]] looks interesting if it can trade above its 200 day moving average.

Note: This is a local company that has huge exposure to natural gas. I’m noticing a bunch of Nat gas plays rising while the underlying commodity remains weak. This has me thinking that people may know something that we don’t. I am a buyer of [[UNG]] and specifically PetroQuest Energy, Inc. [[PQ]] over the 200 day moving average.

Here’s another oil & gas play that looks great, Crosstex Energy, L.P. [[XTEX]] . Notice all the moving average support underneath, that spells BTFO:

I’m a buyer of Chuck’s pick [[NUHC]] now above $4 (note: low volume play):

Here is one you want to jump in on volume, if you see it pick up, I say you jump in Satyam Computer (ADR) [[SAY]] :

Note: Jake has a good one inside The PPT, but I’ll let him tell you.

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