$SPX

As bad as it was Friday this market is still in chop mode and the US Dollar holds the steering wheel. The scenario of a sell-off closing out Oct and beginning November only to rip up to close out the year in December appears to be coming to fruition.

I'll be looking for the selling to subside next week to get back long with a stop below the 1014 fib line.

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BIDU

Set an alert on BIDU to get short near 400

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RIMM

Stopped out earlier in the week and looking for a bounce to get long at $57.50 with a VERY tight stop.

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HD

Home Depot getting smacked down as it excemplifies the retailer and home builder sectors. Tough to be a bull here and easy to wait for bounces up to sell into.

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EUR/USD

Euro/USD to sells off to secondary trend but still bullish.

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GLD

Long GLD

stop = 101.59

Short term Target = $105.50

Intermediate Target = $ 115.00

Long term Target = $ 130.00

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MET

MetLIfe finding resistance at 37.76 or the 50% fibonacci retracement level.

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NFLX - Bull flag agian?

Waiting to see the low $50 levels to get long.

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NFLX

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S&P

Break of trend, but may not be ready to roll over & die just yet.

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GLD - break

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AMZN

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MO

The rise in the dollar is having an affect on diviend yielding companies like MO so be careful as the dollar runs into heavy resistance the toward the end of the week. This 60 day 1 hr chart clearly shows support and resisance levels and a break below 17.80 leaves ALOT of white space below.

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GLD

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UDN - Another look the opposite way

Dollar down secondary break

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UUP - Dollar up on break of trend

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MO

Weekly chart showing a bearish engulfing reversal pattern. A lot of support at the 17.45 mark but a break there could mean next stop 16.50.

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GS

May be stalling at 195 resistance to form shoulder to 162

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BAC

Banks looking weak and breaking trendlines.

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AMZN breakout tradable

So much for shorting AMZN above 95. It goes to show that you can't trust beating previously weak earnings. The 110.62 mark designates the gap up and the new line in the sand. It's safe to be long above this point long term with a target of 160. However, a failure of this mark would definitely mean a gap fill below the 100% fib line and most likely to 85. Can you say speculative out of the money play using leaps?

Jan 2011 $160 Calls = $7.70
Jan 2011 $85 Puts = $7.45

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