Tuesday, February 28, 2012

Recap and Trading Plan For Wednesday 2/29

Today was a very fine day for us here at The Chart Box, lots of winners, a few breakouts, etc...

Here are the alerts that went off, and how they held up today:
GOOG - broke back above the 50d and is sitting right at resistance. next buy point when clears 620
SINA   - broke above 65 on solid earnings, said buy over 65, now at 70.04. look for more tomorrow
LVS     - broke out of this nice base its been making, over 54, trading at 55.30 after hours. looks good.
SODA  - had a great follow through day hitting 49 after hours.
GS        - broke through resistance then failed, though closed just below. watch for a rally tomorrow
BRCM - broke over 37.00 which was our stop, look to re-short when it hits its head on resit again.
VMW  - tested over 101.00 but didn't hold. did close over 100 so it's still ok, but keep a tight leash if holding.
NTAP  - broke over a descending trend line only to close back below it. keep on watch.
PPO     - broke over 41.00, but light volume... tread lightly
CF        - broke out to new highs, but not a nice candlestick. FTD (follow through day is key)

VXX calls
LVS calls
SODA strangle (2:1 calls:puts)
NOV strangle (2:1 calls:puts)


Tomorrow is leap day, which is of course awesome! Being that I am a stock market addict, I am stoked to have an extra day in the year to trade, it's like free crack! (I don't do drugs nor do I condone drug use).

Also, the dow closed over 13k today, I'm not sure what to expect tomorrow. It seems too obvious that we should rally so keep a close I and stick to your stops. As I said yesterday the market needs to rest, but that doesn't mean it will.

On to the top stocks on my watch list tomorrow:
  • GOOG - 620.00 - This market leader could have been bought today on the break over the 50d, but     tomorrow over this point could be just as well
  • LVS     - 55.50 - That price would be a 3yr high, so that's the next buy point. If it gets over that, it's a quick jaunt to 59 imo
  • SINA   - just look for follow through on this one if it closes at or near todays highs, go long.
  • NFLX  - 116.54 - the last descending trend line on nflx is here. clears that on volume it's a buy
  • AMZN - 186.30 - cleared back above the 50d, tested the 20d, when it clears this trend line on volume it's a buy point
  • BIDU   - 141.00 - I think it'll take a couple days, but you never know, keep this one on watch to break out of this triangle.
  • PANL  - L/S - this one could go either way, it's down ah on earnings. Think it'll hold 200d, but we'll see
  •  CF      - 192.70 - this one broke out of that flag today to new highs, watch for FTD
  • WFC   - 31.47 - Not sure if I forgot to set an alert on this one, but broke over 31.22 on good volume watch for FTD and break of todays highs.
  • GLD    - 175.00 - Looks poised to break through this resistance. keep on watch!
  • UA      - 88.00 - broke through resistance and closed over. Doji candle on the daily so watch for FTD
  • MOS   - 60.38 - basing nicely, keeps this up it'll rocket through the 200d and resistance.
  • CME   - 297.25 - basing just below resistance
  • OPEN - L/S - Making a triangle, needs to make up its mind here. Volume is key, don't buy either break unless it's on volume.
  • CRM   - 146.50 - hit its head here after earnings, this is the next buy point.
  • INFA   - 50.75 - may not be ready yet, but make sure you have an alert set
  • SHLD  - 73.80 -  looks like it may be ready to break over 200d and through this descending trend line
  • LTD     - 47.15 - this looks primed for a along run, $46 stop should be a good risk/reward

Charts -











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