Thursday 8-6

{+++} I’m shooting for a quick pre market video if I can, but wanted to give you some levels. The financials broke out yesterday and the news this morning is that FNM and FRE will get a clean slate as the government entertains a good bank bad bank scenario. Although they broke out I can’t help but wonder if it wasn’t a blow off top, so I am cautious in that sector. USB was a nice breakout and we sold half, maybe if we get a strong open we will sell the rest to monetize the move. For now the group is on fire and AIG, believe it or not, is exploding higher again today.

I will leave the untriggered longs on the list for a little bit longer as we may get another boost if we get a good unemployment number tomorrow, but it will be Friday and I don’t want much exposure over the weekend as the market is getting into nosebleed territory.

WATCHLIST FOR AUGUST 6

LONGS (THAT HAVEN’T TRIGGERED YET)

OREX- 9 STOP 8.60

CHRW- 55 STOP 53.50

BWLD- 41 STOP 39

ACAD- 5.25 STOP 4.80 ( announced a secondary after close last night, could be weak at open)

JAZZ- 6.88 STOP 6.40

EXEL- 6.10 STOP 5.80

UPS- 54.62 STOP 53.50

ROM- 39.30

LONGS (THAT HAVE TRIGGERED)

USB- 21.92 ( we sold half yesterday +.90)

MDRX- 16.67 STOP 16.50

HGSI- 15.45 STOP 15 ( we stopped, but we will probably re-enter, still a breakout over the 15.50 area)

NTES- 44.85 ( SOLD 1/2 FOR A BUCK,IT WAS TOUGH TO PLAY UNLESS YOU ARE EXPERIENCED TRADER, IT WAS A PULLBACK BUY, NOW TESTING THE BREAKOUT AREA)

SHORTS (THAT HAVEN’T TRIGGERED YET)

LMT 73.11 OR 73.70 IF YOU ARE MORE AGGRESSIVE- STOP 75.50

RS- 32.85 STOP 34

SHORTS THAT TRIGGERED

RVBD 19.40 STOP 20.40