Today' market - Aug 5, 2010

The market almost hold up after the jump in jobless claims.. Retail sales

also had a disappointing July. The volume was very light possibly in anticipation of Friday's unemployment rate.

Tomorrow's unemployment rate will be an important number to watch. We are at a point where the market could go either way with substantial force. If we see an unemployment rate

of 9.5% or lower Friday morning at 830am eastern time (which isn't anticipated), we could see a big UP day tomorrow (Friday). If we see a number like 9.8% or higher, then we

could see a big down day. (Mitch King)

ATHR: 26.36 0.99 (3.90%) - Atheros Communications, Inc.

ATHR: 26.36 0.99 (3.90%) - Atheros Communications, Inc.

Even though I sold the position yesterday, I am still watching this stock's performance.

The reason I sold it is: the market is still in the up trend and after 2% up,, short term pull back is possible. Besides, yesterday's volume is extremely light, which means the short pull back is "SHORT". Since I am in ATHR put, I should consider not to be against the market trend. So yesterday would be a good day either to take some long position if you are aggressive enough or take some profit for the short.

Even though it is not hitting my target for 50% target, I just closed the position. Besides as I mentioned in last time analysis, the chart is turning better... which add some flavor to my decision to close the position.

Today, it went to SKYROCKET. (As of now, it is 4.22%, and after it traced back from early morning, it never looked back, which is a little bit out of my expectation. Huge accumulation occurred around 1pm- 1:30pm. News initiated? Insider knows something about it?

ATHR: 25.34 -0.76 (-2.91%) - Atheros Communications, Inc.

ATHR: 25.34 -0.76 (-2.91%) - Atheros Communications, Inc.

Position closed for my put. 25% profit.

Yesterday's market up- Some data Aug 3, 2010

Here are some data for yesterday's up:

Advancers: decliners = 5.68:1, up volume:down volume = 14.36:1 .

The Dow30 closed up 2% Monday, Nasdaq up 1.8%, the S&P 500 up 2.20 and the Russell 2000 was up 1.69%.

Bernanke said today (Monday) that “the worst is over”.

Calendar (All Eastern times)

Monday, 1000am, Construction Spending, -0.8%

Monday, 1000am, ISM Index, 54.2

Tuesday, 830am, Personal Income, 0.1%

Tuesday, 830am, Personal Spending, 0.2%

Tuesday, 830am, PCE Prices Core, 0.1%

Tuesday 1000am, Factory Orders, -.5%

Tuesday 200pm, Auto and Truck Sales, 4.0M, 5.0M

Wednesday 815am, ADP Employment Change, 25K

Wednesday 1000am, ISM Services, 53.0

Wednesday 1030, Crude Inventories

Thursday, 830am, Continuing Claims, 4530K

Thursday, 830am, Initial Claims 455K

Friday, 830am, Nonfarm Payrolls, -87K

Friday, 830am, Nonfarm Payrolls – Private, 82.5K

Friday, 830am, Unemployment Rate, 9.6%

Friday, 830am, Hourly Earnings, 0.1%

Friday, 830am, Average Workweek, 34.10

Friday, 300pm, Consumer Credit, -5.7B

ATHR today's summary - Aug 2, 2010

The market is up greatly today. ATHR is still down today by 1%. The MACD is still down but the STO is getting better than yesterday. MFI is getting better. Volume is almost same. Big distribution and accumulation occurred last early week and now it is wondering and wait for more certain signal for trend up or down. Basically this one is still weak but it s starting to change a little bit towards up.

I will keep close eye on it tomorrow to see if confirmed up signal show up (BUY). If that happens, I will close the position.

As for the market, short term pull back is possible. We have to look at tomorrow's market to see what is happening.

Stock Quote Day's Close 26.100 Previous Close 26.440 Previous Open 26.050 Change -0.3400 % Change -1.29% Volume 2,147,301

Stock Activity Day's Open 26.540 Day's High 26.630 Day's Low 25.950 20-Day Close M.A. 28.511 50-Day Close M.A. 30.419 65-Day Volume M.A. 2,672,883