Weekend Update for Tuesday Jan. 18th

 

US Markets are CLOSED on Monday.

 

A huge week of earnings and economic reports lies ahead.  On Tuesday we get Citigroup (NYSE:C) in the morning and Apple (NASDAQ:AAPL) and IBM (NYSE:IBM) after the close.  Wednesday brings Wells Fargo (NYSE:WFC) and Thursday has Morgan Stanley (NYSE:MS) in the morning and Google (NASDAQ:GOOG) in the afternoon.  Friday unveils results from Bank of America (NYSE:BAC) and General Electric (NYSE:GE).

 

I posted about 20 stocks to watch and matching charts in the Community Charts Section of the VTF, and I should be around Monday as overseas markets are open.

Here are some charts for the futures, I dont see much for the downside.  Looks like we have a bit more to move on S&P 500 before we should correct.  Watch for fat tails, China & Japan saved the Euro last week, will they do it this week?

 

Some highlights:

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COHU poised to break out, look at daily chart, best if it says over 16 on pullbacks.

MIPS & STEC poised to go on big runs if last week's breakouts hold. MIPS best over 15.52, STEC support 19.50, with some support at 21.

SOL broke out of a base with some big gains, now pulling back, look for a buy signal, this should happen between $9.9 and $10.30, the 9.60 break out line should not be undercut.

DIOD finding buyers ~ 26 after a big run, with 26 holding (round down to a stop of 25.94), more aggressive at 27.09, this its set up for a big run, extended targets over 28 are $31.55 & 36.20. Below 26 and it will see a 10+% correction.

RES a little more shaky watch for 15.83 to hold, pull back after big run, over 18.50 > retest of 22.59, however below low 15's sets up a trip to the upper 11's.

CRDC, this is a momentum stock watch for a break over 5.13, 4.72 should be the stop.

MCP, another MOMO stock, already done with its 2nd move, at a pull back area now, good news if it holds here its got nice upside targets (49.60, 54.00 for starters), otherwise if it takes out 44.93 (42.50 2ndary support) its likely going to the mid to upper 30's.

IO broke out of long base clearing resistance at 6.48, with recent new support at 7.70, this one looks ready for another move up, but below 7.70 a 15% haircut back to 6.48.

BIDU currently trapped, 100-110. Best if it can hold 105. In 2 years its up 10x and at a very step angle, that's a warning sign, this stock is a good one to play with options, These are strike targets, Puts at 100, 85, 75 and Calls 115, 125, 140.

VALE, recent breakout over 34.71, if it can stay over 36.40, then very good chance of retest of 44 and then new all time highs, ceiling at 33 should hold as support now.

LMT over key low 70's, and break out over last 5 months resistance, 75 is at the .382, 76.34 a trigger for more upside, above 79.50 then 83 at the .786., retest 87. (air pocket 87-97).

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