Wedn thoughts

343
took profits on half spy 117.62,,, will re-short again in 10 min


342
117.62

340
117.82 stop,,moving lower :)     ==CHRIS

337
118.21 mental stop

336
stop 118.42 on half of spy shorts, will hold other half swing overnight longer

241
over 1181 ES I may cover some spy swing shorts to lock profit, under that i will keep holding,,,watching reactions here==CHRIS

224
ES hit just over 1195 pivot from hour ago and backed off sharply,,,watching the rollercoaster now a bit ----CHRIS

202
below 1194, the 15min ES is in a falling wedge with more room down b4 rally up bounce---CHRIS

151
intraday SPX is setting in a dangerous position right near its support, which if broken at 2:15pm could casue a larger wave of selling... tho these FOMC days are often bullish up to 2:15pm

110
i've lowered my aapl trgt to 444 from 450, for now, 419 last, with last recent daily high 423 *422.86)

102
spx 1186---1189

101
watching 1189 spx support,,,if that breaks watch out below,,,first test expected to hold support tho---CHRIS

1203
QQQ is starting to move ahead of appl on 3min chart tho qqq up .66% today vs aapl up 1.75%,,, qqq may play catchup,,,other non-aapl qqq stocks being bought now atm===CHRIS

1201
421.50 aapl retest is liklely today imo,,,419.99 last===chris

1140
aapl hit its 419 trgt pn the 417.30 break signal from b4, needs 3min close over 419.50 for next higher trgts

1137
WOW, HPQ is up 6.6% today, tho this stock has lagged severely since July==chris

1129
aapl got the 3min close over 417.30 within prescribed # of bars,, 419ish and 421 next pivots higher

1106
still have the spx and intc shorts, half of msft at higher stop===chris

1104
took profits on MSFT,,,will look to replace it with another short later today---chris

1102
aapl 3min is trying to base,,trying to form base for intraday rallyt,  BUT this pattern only 50% up,,,often it makes a lower low on 3min b4 rally,,,so wat5ching this carefully,,,the break of support or resist is key imo

1059
aapl needs a 3min close over 417.30 imo,,, bearish until it gets that,,then may rally higher

1058
aapl does have a marginal bear break but its small and needs confirm,,could spell trouble for markets--chris

1057
next 12 minutes,,,next 3 to 6 bars on the 3min,,,crucial intraday on aapl imo,,,

1056
higher qqq and spx are not likely without the support of aapl

1055
aapl is now testing its intraday support now, along with qqq and comp,,,,THIS MAY BE the most impt test of the day (expcept 215pm maybe but thats chop)===CHOP

1052
heres that expected test on COMP,,,watching reactions here,,,chris

1051
stop tightened to 2652 msft from .77

1049
2627--2633 msft "should" stall, if not then may see 2600 fast,,,but expecting a stall there

1049
2633 msft trgt on half, last 2643,, will watch reaction at 2633,,,,if starts to move higher will take profit on half

1043
2677 stop on msft to lock 3%ish profit in case of sudden spike higher,, 2649 last

1038
watching aapl 419.40,,,if it can get over it ,,,aapl may surge t0 423, stall then break higher,,,but bearish imo under the 419.40 (intraday only)

1037
watchinng 2660-2666 msft for resist to hold or not, last 26.50

1024
ignoring "news" and using charts only, charts say hold MSFT at least another few hours,,but will watch it here

10:23 AM
MSFT short is down nicely this morn, down 1.45% vs spx down 0.14%,,,watching reaction here at 2662 msft support and will take profit on half IF the support holds,,,else holding for lower on support break lower---CHRIS

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".