BUYERS ARE BACK...AT LEAST FOR TODAY.

The buyers did come back today, particularly in the tech sector. CREE had a good earnings report and was up almost $6 in after hour trading. This could rally the SMH tomorrow. It was nice to see a move up today in the SMH. I probably won't get bullish again in the chip sector until the SMH closes above Friday's open. AAPL was up $9. IBM took a hit after they reported after the close. It will be an interesting day for tech stocks tomorrow. HOG rallied up a bit today, but I think this only gives you a second chance to get into your put options before Friday's earnings report. With the election results in Massachusetts, look for healthcare, pharmaceutical, and biotech stocks to continue their rally. I like the patterns on AET and ESRX, . For a nice bearish pattern, look at BJ. They don't report earnings until March, but that is a beautiful bearish ABC pattern with a lot of resistance. Watch BAC. They report earnings tomorrow (Wednesday) and they have a nice bullish ABC pattern finding support at the 50 day MA which is rising. For clarification...that would be a bullish trade on BAC. We are at the resistance area of a range in the S&P 500. The shorter term range is between 1130 and 1150. With this small sideways trend, the odds are high that we will get at least one more move up. If we happen to move down to that 1130 area in the next day or so, get ready to load up on some call options to take advantage of this possible break higher. If we break higher tomorrow, I might hesitate to load up on too many new call option positions for fear that a correction might soon follow.