Akamai (AKAM)

AKAM Weekly Chart

AKAM has broken the rising flag. Supports 29/17/11 Bought PUT.

Rebound and Correction

Bullish sectors are making a correction. Bearish sectors are making a rebound. A look at the various sectors:

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Neutral (+)
DJI	Down	Down	Down
NasdaqComp	Down	Down	Neutral (+)
Natural Gas	Up	Neutral	Down (-)
Oil	Down (-)	Down (-)	Down
SecurityBroker	Down	Down	Neutral (+)
Bank	Down	Down	Neutral (+)
Insurance	Down	Down	Neutral (+)
Housing	Down	Down	Neutral (+)
Shipping	Neutral	Down (-)	Neutral (+)
Steel	Neutral	Down (-)	Down (-)
Retail	Down	Down	Neutral (+)

Greenhill (GHL)

GHL Weekly Chart

Hmmm...I seems to like playing this type of pattern. Greenhill (GHL) broke down from a 3 years range trading and now challenging the previous support. Bought PUT today as the rebound volume is not strong as compared to yesterday. Hopefully it moves down back quickly.

Chubb Corp (CB)

CB Weekly Chart

Chubb (CB) has broken down from rectangular box (more or less). Uptrend not supporting. Triple top. Supports 45/40/30. Opened PUT position.

Watch list for 14 July 2008

I'm bearish on the following:
Chubb Corp (CB): Looks like a break down from range trading. A triple top. Supports at 45/40/30.
Akamai (AKAM): Rising flag broken. Supports at 29/17/11.
Hewlett Packard (HPQ): Broken rising flag. Supports 40/38/30.
General Cable (BGC): Rising flag broken. Supports 54/36.
Google (GOOG): May cover gap fram 459-524. Technicals getting negative. Supports 520/420.

I'm bullish on gold:
Royal Gold (RGLD): Strong resistance at 35. Then 40.
Newmont (NEM): Uptrend forming. Resistance 56/61.

AXP & RL Puts

Opened two PUT position on Friday.

AXP Weekly Chart

American Express (AXP) has broken down from the rising flag 2 months ago. Just given the second sell signal. Weekly chart not yet oversold. Expecting more downside. Supports at 32/27/24.

RL Weekly Chart

Polo Ralph Laurent (RL) has also broken down from a rising flag. Possible supports at 48/35.

S&P Retail Index

S&P Retail Index Weekly Chart (ending Jul 9, 2008)

After 6 months of range bound movement (rectangular box), it broke down 2 weeks ago. From the chart, you can see that there is no major support until 250!