Need to watch MACD for any hints on divergence. Also please note that for this case to be valid, we need to stay below 108$ during trading early next week.

Here is another possibility:

This drop in SPY to ~104$ should coincede with the drop of CLF to 44.00 area. This is where I am planning to take some profits off the table. After that I would be looking for a rebound to ~48$ and then another push lower to 38-39.

Best sectors to be invested in right now are financials and energy.

I expect turbulence to continue in the EUR/USD currency pair. To save the truth, I was looking for 1.37 this week. It looks like I was dead wrong – even though we’ve had a nice base in the pair, the jobs report has send it below support lines on Friday and the next likely target is 1.34 – 1.3350. See the clear H&S pattern on the 1H chart?

Oil and Gold are definitely on the roll here. I continue to believe the yellow metal is going to 1160$ short term. As for the Black Gold, I expect it to outperform all the other asset classes. My first target is 90$, looking for 100$ by the beginning of the Summer. The price action from the February to June of last year may serve as a guidance.

The chart from December 2007.

The recent price action.

Tomorrow the Nonfarm Numbers will be announced. I have no idea, whether we will sell off, or gap up higher (I would liek to see gap down and then gap close and beyond). Though I am betting we will close lower this time next week.

Bailed out of my GS puts for a loss, switched to longs, closed those for a small profit. Bough AAPL puts for a gamble.

If there is now breakout today, I would be looking for a pullback to 1105. After that it’s anyone’s guess, what will happen next – a break up to 1130 and possibility of 1150, or a breakdown to 1080-1085.

Here is also a Volume-Weighted Average Price (VWAP) chart below. It suggest that there is a lot of Vacuum in the 15 pt. range right above us. So, should the move up happen, it will be FAST.

Still holding my GS puts, as the stock remains under severe pressure.

CDII – buy at 1.55, stop below 1.45. Will be looking for a 100% return in a couple of months.

TIE – this is a real gem, check out the chart below. Looking for >50% return in a couple of months. Buy at 10-11. Stop below 10.40.

ATI – it represents the same chart pattern as TIE, though expected returns are not that exciting. Thus I would suggest buying some 45@March Call Options in this one. Target ~50$ by March Expiration.

Today I have made several trades, according to my game plan. Didn’t trade GOOG though, as it lacks momentum and stayed almost flat through the day.

In fact, I was able to make only two trades (others were not executed, as the price hasn’t reached my target):

ABVT – bough February Calls@60 for 0.60$, sold for 1.60$, nice return for a one day’s work.

ADY – The main thing, I like this company is its finances – strong balance sheet, fast growth.I also liek the huge gap above that needs to be closed, thus my target for this stocks is 32$ by next options expiration. Have been accumulating Calls all day long. Average price 1.55 for March@25 calls.

Looking for 1100 in SPX by Tuesday/Wendsday.

EUR/USD target 1.38 this week, 1.40 next week.

With the current pullback in the stock market, most of the companies have reached buying levels. Others have breached below their support levels and headed lower and some have already reached their targets.

The most remarkable calls were in CPE and DSPG. Check out the charts:

The DSPG stock has made a pullback right to the entry point at 5.80 and then reversed all the way to 7$. It looks like it has some steam left. My target would be 7.75 before any rebound.

CPE has risen more than 40% since my call.

Here is the list of the remaining stocks to watch this week:

NTRI
TRA
AGU
TSO
VLO
PETD
ALY
OMNI
CFW
NGAS
WNR

Here is another stock similar to CPE:
KAZ - a US registered company ingaged in oil production and exploration in Kazakhstan. BMB Munai operates under its wholly owned subsidiary Emir Oil. The company is engaged in the exploration, development, and production of crude oil and natural gas. The Aksaz, Dolinnoe, and Emir oil and gas fields in western Kazakhstan serve as the primary areas for exploration and development. It transports oil and gas via rail, barge, and pipeline through Russian territory.

Although the stock is losing its steam and there is no follow through in price, it is strong fundamentilly. With the market Cap. of ~60$ mil. it has 250$ mil. of proven oil and gas reserves.

I have gone long at 1.20$ and planning to hold this one forawhile. Next week they will aanounce their 3rd quarter results, that should be interesting.

+ 50 pts.