The market gapped down on Friday morning, but those who didn’t panic were rewarded as the market recovered in the afternoon. The NASDAQ has confirmed a close above its 50-Day SMA, a positive sign for the market.

The S&P 500 sits right at the 50-Day. Let’s hope it follows the lead of the NASDAQ, although some rest above there would be a good thing.

I had 2 triggers on Friday. TSTC was the best mover, and still looks good.

ACXM also triggered, but didn’t move much. It could be forming a double top as well. My stop is tight in this one.

There was also some nice movement in recent triggers.

CSE had a fantastic day Friday. I sold 2/3 on Friday, still holding the remaining 1/3.



JDAS did not move higher Friday, but may have found some support. If so, it could try another run higher.

In looking over charts this weekend, I was trying to identify some longer term trends. There is some positive action in UUP and TBT, which includes a potential golden cross of the 50 and 200-Day SMA’. If that occurs, then I will buy pullbacks in these and hold them for longer term trades.


The market looked bearish a week ago, and now looks pretty bullish here, although a rest is certainly due. But with the choppiness, it helps to be open minded in this market. If things start looking bearish again, I like EDZ as a possible trade, with an obvious stop below the 50-Day SMA.

Trade Ideas for 02/22/10:

Only considering the charts that look the best to me. I passed on a lot of ones I felt were mediocre. I don’t plan to hold anything too long until we get a confirmed rally on higher volume.




Good luck and good trading!