Yesterday’s two-and-a-half hour Q&A session covered quite a bit of ground, and I was able to field questions from more than a dozen paid subscribers during that time. Some of what we discussed bears repeating, including a 1242.50 target for the mini-S&P that was broached at the end of the session. That is now my minimum objective for this vehicle over the near term, and it will be short-able using the strategy spelled out in the newsletter. Please note, however, that even minor progress above the target would imply that the futures are bound for the next, at least: 1260.75 (also short-able).

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 It’s not possible to predict whether either will be achieved simultaneously with a rally target I’ve provided for Google, but if so, it could conceivably open a window of opportunity for bears the likes of which we have not seen in months. In the meantime, Google still has some ground to cover, and if you haven’t done so already, I would urge – make that, beg – you to try the calendar spread described here in detail the other day. Although I cannot guarantee you a profit, the spread would be my <i>Pick of the Month,</i>  if I were to tout such an opportunity. (We do offer a <i>Pick of the Day,</i> as you already know.) Even if you put on the spread just one time, risking $350 or so, it has the potential to pay for your subscription for years to come.

Shorting Beazer

When the opening bell sounds this morning, we’ll be focused on one other potential opportunity, a short in Beazer at a hidden-pivot target that is coming up fast. This could prove to be a major top in the stock, although even if it is not, our planned entry will enjoy an excellent risk:reward relationship. If you do not currently subscribe to Rick’s Picks, you can get a peak at all of today’s trade recommendations by clicking here for a free one-day  trial subscription. No credit card information is required for this instant sign-up.

Finally, here’s a note on Genentech [DNA] that I received too late to include in the Q&A bulletin board. I will follow up with specific advice on the stock in today’s edition: “I apologize for the tardiness of my message, but just noticed you had a comment on DNA in your commentary.  You did nail this one!  I picked up 200 shares @ 79.88 & recently sold 100 shares @ $90.50 reducing my cost basis a bit on my remaining shares.  If you can provide direction in tonight's commentary, that would be greatly appreciated.  I plan on holding my 100 shares for a while unless you think it is about to fall precipitously.  I would like to re-acquire my 100 shares on a pull back if it presents itself.  Thanks again for your spot-on accuracy!