Sold YHOO at 42.71 for a 2.24 percent gain. QCOM drove me nuts. It broke the 46 resistance and I covered for a small loss at 46.27. It then fell down to 45.70 which would have been my break even point. It tested 46 for the rest of the day and closed at 46.08. So is it going to breakout or what? Do I go long or short? I'm probably just going to watch, or do what I did this time and just start with a small position and wait for more confirmation.

I know CSCO has been "deadweight", but I took a position at 17.03. A large position. Why? 17 has provided strong support for quite some time, so I am confident this is a low risk trade. Although a 10 cent gain will be a low percentage winner, it will net me a good chunk of change.

I also took a position in PQUE. It looks ready to test 9 again, and if it breaks 9 it has room to gain a few points. The insider trades in this stock have been conforting.

As I said, QCOM drove me nuts . . .but that's okay, I'm always going nuts. What made me manic? APCS. Sold it late last week for a small gain. Got tired of waiting in that sideways pause of an uptrend. I should have known better! There was too much action in the stock. It jumped over 2 points today on buyout news. Oh the joys of trading stocks . . .

Trading Notes:
Obviously institutions and hedge funds are moving out of energy and into tech. Whenever this happens, ride the wave, and watch for the exit point. Make sure to take positions in companies that are attrative to the institutions. Right now, AAPL, YHOO, BRCM and a few others look good.

Always keep seasonality in mind. October is historically a bad month, while November rebounds up until March.

StockWatch:
Along with previous charts, EMKR (long), GPS (short), ADSK (short), TUES (long), MRVL (long), MSCC (long), SCHN (long). Chart

XBOX related stocks include: MSFT, MRVL, BBY, GMW. However, with recent jumps, might already be priced in.