Weekly Stock Watch Summary

AAPL-Reported an unexciting earnings report and caused the share price to fall almost 5% on Tuesday. However, because of AAPL's immense strength, the day of earnings was a complete rally higher, almost back to the area of pre-earnings. If AAPL could get below $300 again, we could see quite a bit of follow through.

AMZN-WOW! Strongest of the Tech's this week with a mediocre earnings report still propelling the stock to all-time highs! If it could get below $165 with volume however, we could see the $150's soon enough. No resistance levels to watch as it is at new highs.

BAC-Getting slammed AGAIN this week with volume beginning to die off on Friday. I may want to pick up some of this stock in the $11 area, as it has been some nice support before. I won't say this move is over extended though as this stock has been tanking in a rally market. See how it will react on a large trend day up or down for some more reasoning.

BIDU-WOW! Strong earnings propel Baidu.com to all time highs! Shorts are just getting hammered in this stock, but it is starting to look extended. First off, the candle we put in on Friday is sort of weak, as it has a nice wick on the top of it. Also, it is extremely far away from its moving averages, and it is very unlikely for a stock to stay this far away for a long period. I will begin shorting this stock as soon as I see a topping candle pattern.

C-Creating a nice little range from the $4.05-$4.20 area. I would be interested in shorting this stock if it tests the $4.30 highs. It looks like some sort of break out is brewing in this stock. I would watch the SPY or XLF for confirmation on a move, as with any stock.

CSCO-Stabilizing in the low $23 area, with it closing on its highs on Friday. We have some overhead resistance from a previous earnings gap, and a 200 moving average in the $23.80 area. Lower volume on this move up, even on large impulse days. Watch how a pull back reacts on CSCO.

FCX-Looks like this stock is beginning to top out near the psychological $100 mark, with a strong gap up being rejected into it. A large amount of volume is seen on these last two days of selling activity. Right now the most important areas to watch are $92.50 and $100.

GE-Looks like it is starting to form a base at the $16 area, with a 50 day sma right below. A break below this base could have some initiative selling pressure down considerably lower, as we do not have any significant support until the low $14's.

GOOG-As expected, GOOG ranged this past week after its huge beat on earnings. Remember, 20% of the time, the market is moving somewhere, the other 80% the market is stagnant. After such a large move, in such a short amount of time, it is very common for the stock or market to rest in the coming days. $620 and above is going to be important for GOOG.

GS-Goldman has been extremely strong the past 2 months compared to the financials, and it seems this could continue. We are now above all of our important moving averages, and above some significant support at the $155 mark. This could be a mover in the coming weeks.

INTC-Yesterday INTC tested its earning highs in the $20 area. It looks like this could be a high for INTC next week and I would be interested in shorting it. This stock has been underperforming the technology sector greatly lately and it seems this could continue. There is a seller in INTC and I don't think he wants to go away.

JPM-Following BAC for the most part, with it being one of the weakest financials. We are very close to being near the lows of the year for JPM. I would be a seller in this stock at higher price. We could have a vicious break if we fall through $35 in change.

MOS-Looking like FCX here, and I would play this stock the same aswell. We have a nice gap below that looks like it could get filled very soon. Unless it could break the $70 mark on this stock, I would be a seller at any move up.

MSFT-Definitely a lagard compared to the stock market. MSFT isn't even close to the 200 day sma and I think it could stay below unless this $26.20 area breaks with volume. But with this market already extended, I don't think this is a very probable possibility.

RIMM-The $50 mark is REALLY holding as resistance in RIMM, and if it break we could see a LARGE snap back. I may buy some calls above $50 if the market pulls back and RIMM is still holding around here. Something however would need to act as a catalyst.

SNDK-Wow people are really selling this stock last week. Every gap up, even on earnings have been slammed right back down. We have an uptrend line holding it in the $37 area, which is where we closed. If we could break that I think we could see the low $30's.

X-This $42 area in United Steel just can't break! Someone really likes X here and once he lets up we could see some swift movement down into the $37 area. I would not be a buyer in this support, especially where the market is right now. We will have to see if sentiment changes on this stock.