G-TA: Thursday 3/23/2006

[eliteG]

Thanks for your take on ILMN. I just double my position at 25.66 and wait for another drop.
What do you think about TFSM? I'm short on it as it is falling from a recent runup to 10. I think it goes back to the 8's.
Would you agree with that opinion??
Thanks again.

hmm TFSM going to 8 would be a serious break down of support because the 20ema and 50sma and 8.5 area all provide support on the way.. it still could work as this may be a potential double-top but you need to watch out for the possible reverse into a cup w/handle.. have a nice stop in place  goodluck 

[statement00]

Hey G, I was just wondering what you thought of SIR, it looks like it might be an ascending triangle, thanks in advance.

[calguy]

I don't think it will go to 8, but the "8's". I'm looking at possibly 8.75 as a cover target. The run up was on no news so I suspect it will fall as traders move on to other hot plays.
Thanksfor your take on this.
BTW- MRVC seems to be showing signs of life. Hopefully it will resume its rise as the private placement effect plays itself out.

[puenthouse]

would anyone touch GIGM as a short.  At least for a short amount of time.  I think its got great potential, but its got to fall of from 6.  RIGHT !?!?!

[eliteG]

Hey G, I was just wondering what you thought of SIR, it looks like it might be an ascending triangle, thanks in advance.

Hey state..good eye  SIR - is a nice ascending triangle with the top of the triangle being the 200sma.. its almost trying a breakout today.. some volume and a nice candle and she's on her way to 10.

I don't think it will go to 8, but the "8's". I'm looking at possibly 8.75 as a cover target. The run up was on no news so I suspect it will fall as traders move on to other hot plays.
Thanksfor your take on this.
BTW- MRVC seems to be showing signs of life. Hopefully it will resume its rise as the private placement effect plays itself out.

MRVC - I'm happy we sold where we did on the 3SOF portfolio (a 27% gain) because this one isnt moving at all and I suspect we'll be able to pick it up a bit cheaper ~3.75-3.50.  I think it will enter the gap(break 4) today or tomorrow.

would anyone touch GIGM as a short. At least for a short amount of time. I think its got great potential, but its got to fall of from 6. RIGHT !?!?!

After a great reaction to earnings I would not short GIGM due to the risk that it can gap up again now.. this is a long play in our 3SOV portfolio and we are currently up 40% on it. 

[dez]

Hello G,

I agree that the DJIA may be in a topping area.  SharpCharts candle stick pattern shows the 113 area was rejected three times.  The RSI is overbought at 70 and rolling over.  The 50 DMA is at 109.50 and that leaves a lot of room for a short sharp correction to the 11,000 area on the Dow.  I have a 50 contract short position on the DIAPG April 111 puts entered at .60

In addition todays Feb. existing home sales data may not be representative of the NEW housing market.  That data will be released tomorrow.  However in the mean time the hosuing stocks jumped higher today in a falling trend.  Tomorrows data may be more accurate to gage buyer interest in the face of building housing supply, a rising interest rate environment and going in to next weeks Fed interest rate increase.  So I took a short position in the HGX today by purchasing the May HGXQN puts entered at 9.80 per contract.

Let's see what Friday's data and Monday's market bring.

Dez

[Adam]

Hey G-Force,

I love your commentary.  A couple to consider..
CMRG
GEMS
SATC

[eliteG]

Hello G,

I agree that the DJIA may be in a topping area.  SharpCharts candle stick pattern shows the 113 area was rejected three times.  The RSI is overbought at 70 and rolling over.  The 50 DMA is at 109.50 and that leaves a lot of room for a short sharp correction to the 11,000 area on the Dow.  I have a 50 contract short position on the DIAPG April 111 puts entered at .60

In addition todays Feb. existing home sales data may not be representative of the NEW housing market.  That data will be released tomorrow.  However in the mean time the hosuing stocks jumped higher today in a falling trend.  Tomorrows data may be more accurate to gage buyer interest in the face of building housing supply, a rising interest rate environment and going in to next weeks Fed interest rate increase.  So I took a short position in the HGX today by purchasing the May HGXQN puts entered at 9.80 per contract.

Let's see what Friday's data and Monday's market bring.

Dez

Sounds like you know what you're doing to me    Goodluck!

Hey G-Force,

I love your commentary. A couple to consider..
CMRG
GEMS
SATC

Thx Adam 

CMRG - I like this one a lot.. came up on my scan when it broke out a week ago and another breakout today of the dreaded $10 psych region.  Support @ 9.50 but longterm resistance @ 10.80.. might want to wait on pulling the trigger on this.. but definately one to watch.

GEMS - pretty chart both short and long.. at a psych level here @ $5 but need to watch this one before it runs away.. nice volume..I'm gonna dig some more on this one.

SATC - another nice chart.. the only thing that bothers me is the volume.. I wish it was sustained at higher levels...until it can have consistent volume days I'm not gonna be interested.

[Bucky]

Thanks in advance G
What about
cor
spex
gshf

[lana2b]

Hey, G

Could you advise on STTK, please
Didn't sell at the top because of scottrade problems, but still have 95% up
How you feel it will go tomorrow - continue taking profits?
Sell today?  Half or all?

Thanks in advance

lana

[eliteG]

Thanks in advance G
What about
cor
spex
gshf

Hey Bucky 

COR - nice rise on volume these past 2 weeks.. made it above 5 thats nice.. now lets see if COR gets support there but I would only be a buyer on a deeper retrace or a new breakout 

SPEX - just one candle of high volume aint enough for me.. I read the news but not safe enough.. if it is meant to go much higher it will give us another entry, higher up, but safer.

GSHF - had a good form but its breakin down.. I would think solid support should be in place at .125 with the 200 and 50 mvg avgs right there.. otherwise..

Hey, G

Could you advise on STTK, please
Didn't sell at the top because of scottrade problems, but still have 95% up
How you feel it will go tomorrow - continue taking profits?
Sell today? Half or all?

Thanks in advance

lana

STTK - Its an ugly candle today lana.. I couldn't say support has been found yet.. may be able to bounce @ .50... not sure but I would sell at least half.

[eagerlearner]

G, let me do something weird here  , can i have your opinion on crude oil, nat gas, gold and silver?
Thanks! 

[calven]

ASTM - just released news...
http://biz.yahoo.com/prnews/060323/neth021.html?.v=51

I also notice the 1 year chart might be showing a breakout with todays actions. Any thoughts on this as I was thinking about buying some intraday.

Cal

[eliteG]

G, let me do something weird here  , can i have your opinion on crude oil, nat gas, gold and silver?
Thanks! 

Hey Eags  I'll try to do charts on those for the market outlook section tomorrow or this weekend 

ASTM - just released news...
http://biz.yahoo.com/prnews/060323/neth021.html?.v=51

I also notice the 1 year chart might be showing a breakout with todays actions. Any thoughts on this as I was thinking about buying some intraday.

Cal

ASTM - seems to be a breakout of a declining trendline.. if you are considering playing it I would have a very tight stop.. resistance right here in this range.

[Loffigus]

Does it feel like a reversal is brewing?
The last few days have had pretty strong rallies after the drop -- it's hard to tell if the Bears or Bulls are going to win.