IBM…we’re looking for a 199.25 print, which is the 200 day and a natural spot
for direction to stall. 201.25 is a good place to take profits if you followed our buy
strategy last week.

4/23/13
Sometimes you need to look for the most beaten up names.

IBM…fits the bill.

This has the potential to run another $3 today to 195.
With a Risk On board expected into Month end, 198-200 is possible

Goog…4/23/13…GOOG…is breaking out on the weekly maps. Look for a re-test of the old hi @ 844 as long as it maintains over800. We maintain this view.

CVX…we look for this to test the old high of 121.56.

LNG…put in a new high today @ 28.79. We love this company and have it on our buy
on dips list. Trouble is, it ‘s not dipping. We have short-term upside tgt’s in the low 30’s.

We’d love to buy this again around 22.50. This would require a pretty good sell off in Risk assets to see this.

AAPL…We are not looking for much more upside today, however tomorrow I think the Bulls will try to close this above 442-444.

DE…we would not look for anymore upside. 89.60-90.50 is an exit zone for any longs.

PBR…Petrobas is another oil name that has had a huge run over the past 2 weeks. We need to see closes over 19.60 to look for more upside.

TM…117.50-118 is a reasonable month end tgt. We put this on our buy list as a surrogate to being short Yen. We recommended taking the 106 breakout with a 104 stop the first week in April.

POT…41.69 is an ORH monthly # for tomorrow. This is important because we were originally looking to get long the Grains mid-May. This move might have started earlier than we anticipated.

The entire day has been an opening range Risk On Lemming Effect Romp.
The lows of the day are within the initial minutes of the NYC trading session and off we go.

We’ve witnessed these big 2 week rallies going into the first or second trading day of May before. Many of the above names are at or near profit taking levels.

Tighten up your trailing stops and let’s see how the month end markings play out.