Friday, February 17, 2012

Markets Edge Higher on Expiration Friday,..AAPL Bounce...GILD Gap Down

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BMO – ES +3.75 and NQ +0.50 futures are higher 15minutes before the open in pre-market trading and point to a flat to higher open…volume is light for pre-market with more stocks quoting up than down…Solar stocks FSLR, TSL and LDK are higher...

XLF is up 1 cent  on 86,300 shares in pre-market at this time…
FAS is up 21 cents
TLT is down 63 cents
the Euro is up 55 pips overnight trading …


NDX leaders AAPL, AMZN, NFLX and QCOM are higher…BIDU, GOOG, and PCLN are lower…

Dave’s Insight for Friday:  higher Euro…lower bonds… Financials flat…setting up a flat to higher open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

It’s Expiration Friday for February options…recent expiration days have been trading range days with plenty movement up and down throughout the day…

GILD is gapping down on big volume in pre-market…

The intermediate term trend is still up

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…


SPX
Resistance: 1,353, 1,361, 1,370
Support: 1,347, 1,331, 1,315

Quoting DownARUN, TLT, UAL, RVBD, GILD, BIDU, PCLN, GOOG, INTU, EXPD, MCHP

Quoting UpVRTX, AAPL, FSLR, WYNN, GOLD, AMAT, UCO, DECK, TSL, SNDK, RCL, MOS, VECO, LVS, FCX, LDK, DE, CF, HAL, CRM, GRPN, NFLX, AMZN, CA, SNDK, GMCR, BBBY, FAST, NTAP, TEVA, DTV

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