Tuesday, February 21, 2012

Trading Plan for Wednesday

I'm trying to cut down on my day trades, they're getting me into some impatient habits, so there won't be any or there will be very few in my next few posts. Anyway here it is, lots of setups both long and short:

GOOG – 617.61 – resistance and 200d break
WYNN – 120 – Gapped over trendline, hold as long as it holds over 100
GLD – 173.25 – breaking resistance, keep close stop
POT - 47.40 – breaking resistance and descending trendline
NTAP – 43.40 – FTD (follow through day)
KFT – 38.82 – big volume today, watch tomorrow for this break and volume
QCOM – 63.00 – watch for big vol to new highs
INFA – keep on watch – nice cup, watch for handle to form, break over 50
PEET – 67.20 – breaking descending trendline
WFC – 31.22L, 30.20S – forming a triangle, watch volume, could go either way.
WDC – 41.87 – this one is basing nicely keep on watch for new highs
VMW – 100.25L, 95S – another triangle…
K – 53L, 51.30S – just an odd stock, could go either way, these are next entry points
CRM – 125.21S – Shortable if it breaks this trendine
OPEN – 44.75 – Shortable if it breaks this trendline

A few of the good looking charts:



NTAP
GOOG
CRM
WFC
WYNN

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