Thursday, March 29, 2012

Recap and Trading Plan for Friday, 3/30

Recap -
It was an odd day, buy the dip won out as usual. SPX getting really close to the 20d, so keep a close eye on that. Tomorrow is the last day of the quarter, expect some window dressing there after these last couple days of profit taking. Though there are not a lot of great looking setups out there, many are getting close to setting back up.

Trading Plan for Friday, 3/30
  • SWKS - Looking ok, needs to hold this trend line or it may take a while to set back up to take out this resistance. pulling back on lighter volume, which is good.
  • MCP - This one looks really good after breaking out a few days ago. Approaching this next buy/add area. 
  • VMW - Busting through this next buy/add area on heavy volume. Watch for a good FTD (follow through day)
  • ALLT - Showing some resiliency after yesterdays big red candle, keep on watch to break through that 23 area.
  • INFA - Nice big bullish engulfing candle, looking good to go higher
  • AMZN - Continuing to hold above the 200d, keep a eye on this one.
  • CRM - Continues to work well, next buy/add area when breaks out to new highs on volume
  • ZAGG - Pulling back to test the 20d, if it holds it looks good to test the 200d
  • TNGO - Massive volume today, but price action isn't following, be careful... but one could go long on a break over 20.05
  • BRCM - This one is setting up to take this resistance over 39 out.
  • BIIB - Consolidating after a nice big run, keep an eye on this one
  • NOV - Holding up after trying to put in a double bottom here. one can buy here with the bottom area as a stop or wait until it clears this descending trend line.
  • DE - Keep an eye on this one and how it acts at this support and 200d
  • ADBE - Window dressing tomorrow could push this one through this next buy/add area
  • QCOM - Holding above this support area, I think a straddle may pay off well here on a pullback
  • FCX - This one will have to commit over the next week or two, watch this triangle.
  • AZO - Watch this one as it approaches this support...
  • TS - If it breaks this support, more downside to come imo
  • UA - Broke the 20d and this next support. more downside to come imo, may stop around 89.30 or may test the 50d
  • OPEN - This one looks like it wants lower to me...
  • PEET - Ouch, massive pullback on heavy volume... Always stick to your stops, peel some off into strength, and raise your stops.
  • MOS - Breaking this ascending trend line on heavy volume, if it breaks this next support area, more downside imo...
Charts

ADBE

ALLT

AZO

BRCM

DE

FCX

INFA

MOS

NOV


QCOM

TNGO

TS

UA

VMW

ZAGG


SWKS

Wednesday, March 28, 2012

Recap and Trading Plan for Thursday, 3/29

Recap -
Nice consolidation day today, learn to appreciate these since they allow the charts to set back up. Had a nice little rally the last hour, signaling that buy the dip is still in effect. On to tomorrow!

Trading Plan for Wednesday, 3/29

  • AMZN - Struggling at this resistance and could use a rest after this big run. Holding above the 200d, keep on watch.
  • FCX - This one is in between pivotal areas, the downward pressure from the MA's should push it to test this support line first. Next buy area when clears this descending trend line on heavy volume.
  • BIDU - This one is getting some good consolidation as it hits this resistance area. One can buy or add when it clears 152.50 on volume. Always take profits into strength. If it drops below this next support it may retest this rising trend line.
  • EBAY - Looking good for more highs, building a nice solid base to springboard off of. Next buy add area when clears 38.25 on heavy volume
  • NVDA - I hesitate to mention this piece of junk, but it cleared back over the 50d on heavy volume today, while the rest of the market was sucking. So it deserves a mention, watch for a nice FTD (follow through day) and maybe take a small position long.
  • BAC - Fought the selling today, continuing to build a nice base. Buy/add when clears 10.10 on heavy volume
  • WFC - Also fought the selling, next buy add when clears 34.70 on heavy volume.
  • GOOG - Continuing to work well, next buy add when making new highs on heavy volume
  • PEET - Working well our initial two buy/add points. Next buy/add when clears upper line on heavy volume (new highs)
  • NOV - Easy buy here on the double bottom. Perfect formation. One can go long with this support line as a stop.
  • CRM - Holding up well after the false break above this resistance area, keep on watch
  • GS - Consolidating below this next resistance area, when it clears one can buy/add
  • BIIB - This one is holding up just fine after breaking out to new highs, one can buy/add on pullbacks with a $2-$3 stop
  • ADBE - Keep on watch, looks like this one wants to break through this resistance to new highs...
  • SPY - May be reaching terminal velocity here... 
  • OPEN - Reaching decision time, one can play either break on volume accordingly.
  • AZO - Looking like this one wants to fill the gap imo... Watch how it acts at this support and if/when the gap fills. Great stock.
  • VZ - Toast, avoid unless short. 37.35 is the next support area.
  • JAZZ - No Buenos imo... Head and shoulders pattern forming here, needs to breakout soon or it may have a huge down turn.
  • GLD - Not sure why this unconventional trend line has worked so well, but it has.
  • UA - Testing the 20d (holding up) if it closes below, watch this next support
  • MCP - Holding up after this next buy/add area, keep a close stop...
  • ALLT - Don't like todays big red candle on big red volume... keep a close stop
  • GMCR - Another one that is toast, avoid unless short, looks like it'll test 40 if it can't hold 48
  • SODA - More downside to come here, breaking through this next support on heavy volume...
  • SHLD - If it loses this support, there is a lot of downside, really fast imo...
Charts - 

ADBE

AMZN

AZO

BIDU

CRM

EBAY

FCX

GLD

GMCR

JAZZ

MCP

NOV

OPEN

PEET

SHLD

SODA

SPY

UA


Tuesday, March 27, 2012

Recap and Trading Plan for Wednesday, 3/28

Recap-
It was an overall good day today, many of our stocks continued their uptrend, some rested. I lightened up on my positions today, solidified some profits and a few losses. VXX perking back up, So I rolled it over into may expiry. But other than that, I spent most of my day doing other things. On to tomorrow!

Trading Plan for Wednesday, 3/28

  • VXX VIX - If you don't have a good hedge, I suggest either vix or vxx calls. VIX is bouncing off very low prices and needs to get back into the twenties imo.
  • MCP - Posted this chart yesterday, awesome breakout on heavy volume. Next buy/add area when clears 33 on volume
  • PEP - Testing the breakout here today, posted 5min chart showing the sign of a false breakout, I think this one will ultimately break this TL so one could hold with a dollar or two stop if they bought the break here.
  • ZAGG - Loving this one, forming a nice little cup, could have a handle over the next few days. Keep on watch. Next buy/add area when clears the rim of the cup 11.30ish on volume
  • BYI - This one looks good for higher prices, next buy/add area when clears 47.50 on heavy volume this is a multi-year high.
  • ALLT - A testament to the cup w/handle formation, continuing to make new highs and be a solid winner.
  • AAPL - The stock that won't stop, more highs clearing this next add area
  • OPEN - Keep an eye on this one, looking like it may try to  break this descending trend line and back over the 20d.
  • CNX - Another one trying to break the downtrend
  • ADBE - Next buy/add area when clears this resistance at 34.75
  • BIIB - Ugly candlestick today, but good breakout yesterday, keep on watch
  • BRCM - May pullback to this support line
  • MOS - Next buy/add when clears 200d on heavy volume
  • PEET - Holding up well, needs some consolidating for a few days imo
  • DE - Holding above this support, one can buy with this support or 20d as a stop or short if it breaks them
  • PETM - Consolidating and bouncing off the 20d nicely, keep on watch for new highs
  • WYNN - Really struggling with the 200d, keep a tight stop on this one, it can move quick
  • POT - Getting rejected at this resistance level, if it breaks, go long.
  • WFC - Looking about done, or at least ready for a pullback. Bearish engulfing candle today
  • UA - A good buy on the pullbacks with a one to two dollar stop. 
  • BAC - Channeling nicely here, watch for it to break on volume and play accordingly
Charts-

AAPL

ADBE

ALLT

BAC

BRCM

BYI

CNX

OPEN

PEP

ZAGG

Monday, March 26, 2012

Recap and Trading Plan for Tuesday, 3/27

Recap - 
Heck of a day all around, big breakouts, big volume, big gains, can't ask for much more than  that! Hopefully tomorrow we can get a little more of that!

Trading Plan for Tuesday, 3/27

  • $PEP - Poised to break this next buy/add area (descending trend line), nice bullish candlestick today. Keep an eye out for a cup w/handle formation in the next few weeks once it breaks that TL.
  • $BTU - Looked like it double bottomed (they famously move a few ticks below the previous bottom) but now testing again, watch for the triple bottom (which is less reliable, but still a good formation). If it breaks this support, could have some more down side, $27 is another old support.
  • $BIDU - Broke through the 145 buy area on heavy volume, next buy/add area is 156.25
  • $AMZN - Broke through the next buy/add area and the 200d on heavy volume. next buy/add when it breaks 205.30 on heavy volume
  • $BIIB - Breaking out to new highs great volume, look for more upside here
  • $CXO - Breaking this descending trend line and the 20d, next buy/add area when clears 50d on volume
  • $QCOM - Continuing to be a great winner, a good pullback buy or when it breaks 70 on volume one could buy.
  • $WYNN - Finally breaking through the 200d and this trend line on ok volume
  • $INFA - Testing this next buy/add area
  • WFC - Getting through this resistance area, watch for a good FTD (follow through day) and go long
  • $DE - This one is getting ever more bullish, breaking this triangle today on good volume, watch for a good FTD
  • $PANL - Looks ugly, watch for more downside
  • $CRM - this one is looking absolutely wonderful, next buy/add area when it breaks out to new highs
  • $PETM - Breaking out of this flag, next buy/add when it clears 59.08 on heavy volume
  • $GLD - Cleared back above this support/resistance area. next buy/add area when clears 50d on volume
  • $ZAGG - Got that break over 11 on solid volume but thats a bad candle, tomorrows action is key. as long as we don't get the shooting star we are good to go here.
  • $ADBE - Setting up to clear this resistance area, keep on watch
  • $XOM - Setting up to make new highs, go long over 88 on volume
  • $BBBY - Clearing this next buy area today, looking good for more highs
  • $MOS - Holding above this descending trend line, next buy area when clears 200d on heavy volume. (59.30)
  • $NFLX - Keep this one on watch, go long over 126.50 on volume
  • $VMW - Clearing this next buy area on its way to new highs
  • $BRCM - Clearing this flag, next buy/add when clears 39 on heavy volume
  • $GOOG - Getting ready to rocket through 650 imo...
  • $BAC - Could get through this next resistance at 10.05 this week
  • $AZO - One can buy/add when this clears back over the 20d on heavy volume
  • $MCP - Riding this descending trend line, once it breaks go long
  • $SINA - Ugly pos, avoid unless short
Charts - 

AMZN

BBBY

BIDU

BRCM

BTU

CRM

CXO

DE

INFA

MCP

MOS

PEP

PETM

QCOM

SINA

VMW

WFC

WYNN

ZAGG