Longs: AKS (SAT), MCO (SAT@38.00 & 50 SMA), EMC (SAT@26.00), M (SAT@26.50), ORCL (SAT), TWC (SAT@73.00), MS (SAT@22.00)

Breakouts: GG<46.00, SUN<37.50, SU<37.75, MCD > 82.00, AMGN > 58.75 (HBO), WAG > 44.50 (HBO)

Volatility: TWC (R= 34.75, S= 34.40)

Shorts: BRCM

Notes:

It seems that the market capitulated yesterday and a short term bottom had formed. This was confirmed by the transition pattern on the hourly along with the shake out. The the down move yesterday in the SPX also bounced right off of the 200 DMA which was another referance point. Premarket the EURO is rallying against the dollar as a double bottom 1-2-3 pattern formed on the hourly.

TWC can go in either direction here after the inside day at support.

New concept: HBO (Hourly Break Outs)