Friday's action was like the return of a chill winter air in the midst of early spring. Late afternoon selling at the time of day when the Real Money speaks, will have bulls looking over their shoulder for next week. The NASDAQ bounced off former October support for yet another day. The surge in volume continued the game of one upmanship between bulls and bears. Bulls will have their work cut out for the next week. The NASDAQ 100 endured the same punishment, but unlike the NASDAQ, it closed below the 50-day MA. Selling volume was not as great (relatively) than that of the NASDAQ. The softened blow could have been due to the mild sell off experienced by the semiconductor index. Tech secondary indicators [$NASI, $NAA50 and $BPCOMPQ] are trading close to their 5-day EMA's and are vulnerable to whipsaw signals. An example of this was the bearish switch in the $BPCOMPQ, and $NAA50. In the case of the former indicator, the bearish signal looks dominant given the weakness in the MACD. In the $NAA50, the trading channel is the signal line, but the MACD favors the bears too.

Large caps spent most of the day watching from the sidelines. The Dow was able to stay above the 20-day MA, but couldn't hold early day gains above 11,047. At one point, the S&P was able to make a trip above 1,294 - but by the end of the day it was near the lows of its daily range. The Russell 2000 was quiet, and didn't sweat a trip below 735 support. This is the silver lining for bulls on a day when Tech indices took all the headlines.

Newsletter picks

Target hit: FNSR took a rocket ship on Friday, as it reported a profit of $0.03 a share, well ahead of breakeven expectations. The stock featured to Subscribers on February 24th and is worth watching for further upside. For my purposes it is a target hit, and the position is closed for a 46% gain. ZOLT was a Breakout feature for February 2nd, and a Subscriber feature for January 13th. The Subscriber feature closed for a 70% gain, and the Breakout feature for 25% gain.

Stop hit: CBST was a breakout for Friday which was caught out by an overly tight stop placement. The stock managed to close the day at support. The play closed for a 6% loss. APPX was a Subscriber play from February 17th which hit its stop, but could also be putting in place a double bottom. One to watch. The play closed for a 7% loss. OTTR was a Subscriber pick for March 1st, but has suffered consecutive day losses towards hitting its stop on Friday. The stock closed for a 6% loss. GENR hit its stop, after brief gains were swept away. The February 24th play closed for a 13% loss.

Model portfolio: CHS stopped out.

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