Plum Creek Timber Co. Inc. (PCL)

PCL Daily Chart

PCL has broken out from a triangle. Consolidation range should be over. Supports: 24/18/15. Bought 2009 May PUT.

Still Bearish

The US government is doing all it can from saying that the big banks are insolvent. All sectors except biotech is pointing downwards (based on weekly reading):

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Down
DJI	Down	Down	Down
Nasdaq Comp	Down	Down	Down
Russell 2000	Down	Down	Down
AMEX Airline	Down	Down	Down
AMEX Biotech	Down	Neutral	Neutral
AMEX Natural Gas	Down	Down	Down
AMEX Oil	Down	Down	Down
AMEX Security Broker	Down	Down	Down
KBW Bank	Down	Down	Neutral (+)
KBW Insurance	Down	Down	Down
PHLX Housing	Down	Down	Down
PHLX Semiconductor	Down	Down	Down
S&P Retail	Down	Down	Down

Dr Pepper Snapple Group, Inc. (DPS)

DPS Daily Chart

DPS has broken out of consolidation pattern and should test 13.50 again. Support: 13.50. Bought 2009 May PUT.

Exxon Mobil (XOM)

XOM Weekly Chart

I did not take profit the last time I played XOM's option. As a result, the profit turned into a total loss. I'm entering again, bought 2009 Apr PUT. Support is at 60 (uptrend line).

Nationalization Speculation Week

Everything is pointing down except biotech:

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Down
DJI	Down	Down	Down
Nasdaq Comp	Down	Down	Down (-)
Russell 2000	Down	Down	Down
AMEX Airline	Down	Down	Down
AMEX Biotech	Down	Neutral	Neutral (-)
AMEX Natural Gas	Down	Down (-)	Down (-)
AMEX Oil	Down	Down (-)	Down (-)
AMEX Security Broker	Down	Down (-)	Down (-)
KBW Bank	Down	Down	Down
KBW Insurance	Down	Down	Down
PHLX Housing	Down	Down	Down
PHLX Semiconductor	Down	Down (-)	Down (-)
S&P Retail	Down	Down	Down

Not many counters left that is high enough to allow me to play the options. I will be looking for some retail counters this weekend. So, when will the US government nationalize Citibank and Bank of America? The speculation sure has beaten the financials. I am wondering how low will they go?

BlackRock, Inc. (BLK)

BLK Weekly Chart

BLK has given a sell signal, broke down twice from a rising flag formation. It should break the weekly uptrend channel. Support: 95/80. Bought 2009 Apr PUT.

The Travelers Companies, Inc. (TRV)

TRV Weekly Chart

Anticipating a sell signal from TRV soon. This time it should break the uptrend support line. Supports: 38/30.