Added to SLB short

Decided to add into this up move to possibly get a headstart on the downmove.

Short SLB

Got into a short position in SLB as it moved up to the level from yesterday’s post.

Instead of moving below, most of the stocks from yesterday’s “watchlist” gapped up and tested the lows as support then rebounded strongly.

Trading Levels for Monday 11/7/11

MUR established some weakness on friday. If the stock opens below, or drives below this level and rises back to it, it will be a prime short candidate.

Ditto for SLB.

This is a controversial area for ILMN. Some possible scenarios include a rise to a double top for a short oppurtunity, a drive above for a long opp, or dreadful sideways action.

 

CREE also made some fairly obvious hints at future price action.