Overall market so far is anemic. Shorting the [[XLF]] which is the Financial ETF. The XLF hit the resistance at $32 this morning and is heading down. You can either buy the [[SKF]] which is 2x the inverse of the XLF or buy puts. Bernanke will announce Fed rates on Dec 11 when he will probably cut another 25 basis points to increase liquidity. Thats a time to buy gold and commodity related stocks.

I’m taking some profits off the table now and leaving a small position. The volume is light and it’s not break past $330 with any conviction. ISRG may pullback to $310 next week where I may re-enter.

Entered into EDU [[EDU]] this morning at $81.00. All the technicals look very bullish. My first target is $85 then $92.

Like I said yesterday the market looks toppy now. Price action has moved up on much lighter volume meaning few buyers. Take a look at the SPY (ETF of the S&P 500) and you can see that the price has now reached the upper down trending channel and the volume dried up.

I am ready to short the market again by buying the SDS which is twice the inverse of the SPY. I would enter around $53.50.

ISRG is trading very well, currently up +10.7% in 2 weeks.

FSLR is trading very well, currently up +17.7% in 2 weeks.

The market bounced up today on the biggest up day for 2007 but on average volume. I am making a few long trades but with caution.

Entered into LFC [[LFC]] at $80.39. It bounced off the support at $74 and closed over the EMA9 on increasing volume.

Entered into TIE [[TIE]] at $28.80. On 11/21 it tested the previous low on 8/16 on 50% lighter volume which is good. The price moved higher on increasing volume and closed today above the EMA9 and EMA21. My first target is between $31-32. It has volume at highs so it will eventually head up to $36.

The VIX index looks like it’s ready to change direction and head down, it’s past the EMA9. This means we may see a positive bounce of the S&P 500 from 1440.07 to 1472.73 and maybe see 1500. Until then any positive signs in the market are weak so be cautious.

Here are some stocks that I am interested in on my watch list.

AKAM - Is finding support at the EMA50 which is near the $35 price. If the price action climbs above $38 on more than 4.7 million shares then I will take my first position.

ANO - is finding support at $4.00 and tested $3.80. If if climbs above $4 on more than 400K shares then I’m bullish.

Entered into ISRG [[ISRG]] at $290.66 this morning. The falling triangle pattern is bullish as it tested the EMA50 and bounced off. My first target is $339.63 from 10/26.

I am having trouble with my charting software to save chart images, I’ll try to resolve this soon. But here are my current trades.

High volume plays

ATS - [[ATS]] Speculative China play. This has high volume at $4.95 and stocks always want to test where there is high volume. I entered into a small position at $1.95 where there is a lot of support.

CAAS - [[CAAS]] has good volume support at $7.00 back on 9/20. Over the past 2 months these has been much profit taking because the volume has been low. I entered at $7.16 on Friday because the selling volume was so low.

IVGN - [[IVGN]] on 10/31 there was a nice high volume with wide price spread. Over the past few weeks price pulled back and has been climbing. I entered at $90.19.

CHL - [[CHL]] entered at $85.33 on Friday. This tested the $80.00 support and closed over the EMA50. I expect this to climb up to $100.

WFR - [[WFR]] entered at $72.40 on Friday as it has good support at $70.00. This will want to test $81.82 again.

FSLR - [[FSLR]] entered at $203.05 on Friday. Will want to test $230.00 again but needs to find support up there otherwise it will fall again.

On Friday 11/2 I entered into New Gold (NG) at $19.80 as I saw strong volume. My first target is $22.

Stopped out of EJ at $33.01 for a +24% profit (entered at $26.55) in less than 2 weeks. I’ll wait for this to pull back to $28-29.

AKAM is still looking good (original entry at $37.70) price is just consolidating and volume is lighten up which is positive. This needs to break above $40 in the next 2-3 trading days.

NYX went down sharply the last 2 days but volume was still low. If it breaks past $88 it will show signs of weakness then I’m out.

FMCN entered on 10/31 at $60.50, currently up +7.7%. I should have entered on 10/26 when it bounced off the EMA9 and EMA21 which I really like to see.

VGZ entered on 10/26 at $6.60 riding the gold play here. It broke the major down channel with huge up volume, sign to buy!I have been riding this up for the last 5 trading days to a profit of +12.1%. All the technicals are very strong but it’s hitting the upper sub channel line so I must watch with caution.

This is a platinum play with ANO entered at $4.82 on 11/2 and it closed up at $5.20 so far up +5.3%. First target is $6.00