Possible Set Up Opportunity for this week

The markets opened strong with a overall green market. Apple Co. leading the way opening over $520 per share, SPY pre market was trading over the 135.70 resistance and it looked to inch higher at one point hitting a high of 135.86, nonetheless we still had rumored news on China agreeing to continue to buy European debt, all while Greece austerity package was being finalized. The E.U continued to be in turmoil all while Tuesday action was manipulated with the choppy down market all day then a 3:30 pm rally to close at high of the day. The UUP (US Dollar Index Pro Shares) also broke down continuing its inverse relation to the markets. We have been mentioning quite some time that the markets were over extended and that a correction was due, well AAPL (Apple Co.) trading at 52 week high started the pull back with a high of 526.29 closed below the 500 mark at $498 and after hours is down $493

Options

AAPL (Apple Co.) On skype chat we noticed Apple at 525 range and we have been watching for a possible pull back at 11am we mentioned Feb 18 Puts at .59 range for a lotto $500 strike well some members hit the lotto as the contracts hit a high of 7.50 range and could possibly be over $10 tomorrow morning, we still believe AAPL is a great company but the chart was overextended and was expecting a correction which we nailed in the Skype Chatroom

.QQQ ( QQQ Proshares) 62.67 we mentioned to keep an eye on this ETF which is the TECH ETF with heavy hitter AAPL pulling back along with AMZN, and IBM we could see a big correction , the QQQ today closed with a engulfing topping tail issuing a bearish sentiment we expect a drop down to at least the 20 day Moving average 




SDS (SDS Ultra Short Pro Shares) 16.75 With the inverse relationship with the SPY (SPDR S&P 500) we believe that this will have a nice bounce , we expect $17-$18 in the future buying Calls here as mentioned could be very profitable as we expect SPY to test 128 retraction.

SPY (SPDR S&P 500) 134.56 We believe that 135.70 was the major resistance in SPY with AAPL rollover we could see this stock drop if it breaks support at 134.30 we could see this drop even more keep eyes on this stock we believe that we could have a correction here

OTC

We mentioned to members to buy

AFPW .0016 we mentioned to accumulate AFPW at .001 range today the stock hit a high .0018 x .0019 nice 80-90% we expect this stock to continue a nice move watch for a entry position this could rally to .003-.004 range at some point

MEDT .0008 this medical stock with a decent share structure with stocks like SNDY pushing big gains called at .0016 range hit a high of .013 range we could see MEDT reversal and follow suit

NNAN .0009 this stock had news on patent approval we expect a nice rally on this stock