Thursday, February 16, 2012

2/17 Trading Plan

Here's what I'm looking at for tomorrows trading.

On the swing side:
ORLY broke out of its channel.
DECK broke a long down trend and is currently at resistance.
NOV broke out of its base after solid earnings.
VMW is at old resistance of $100, if it breaks through, would be very bullish.

On day trades:
CRM has intraday resistance at the red line, it is actually a swing candidate as well, but I put it under day trades because it is waaay into overbought territory and could snap back down any day OR it could go sideways for a few days to work off that overbought reading that's why I have such a tight stop on it.
AAPL has resistance at the red line, and support around 497, if it goes through either of those on solid volume I'll grab some calls/puts for a quick day trade.
OPEN had a monster rally today, if it can break through that resistance line it'll be worth a nibble for a day trade. Day trades I may hold for 30 seconds or a few hours or on *rare* occasions overnight.

                -ORLY watch/buy the FTD tomorrow, 85.32 buy point

                -DECK  watch/buy the FTD tomorrow, 90.50 buy point

                -NOV watch/buy the FTD tomorrow, 84.74 buy point w/83.85 stop

                -VMW buy a $100 break keep very tight stop as it is over bought

Day Trades-
                -CRM buy the break of 132.34 w/131.70 stop needs to rest, RSI is high 

                -AAPL break above 505.10 or below 497

                -OPEN break over 50.24 or below 48.80

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