Thursday, March 15, 2012

Recap and Trading Plan for Friday, 3/16

Recap -
Pretty good day! SHLD, CME, and BAC led the way for us. If we could have a week like this every week, we'd be millionaires in a few months :)

Trading Plan for Friday, 3/16
Keep in mind that tomorrow is OPEX, stocks will move funny and pin to strike prices.
  • NFLX - 111.50 - Clearing this descending trend line, one could buy when it clears the 20d 
  • BAC - 9.57 - Continuing to work well, one could buy or add when it clears this resistance are
  • SHLD - Clearing this descending trend line, watch for a good FTD (follow through day)
  • CME - 291.20 - Cleared this resistance area and 20d on above avg volume, next buy area when clears this descending trend line
  • VMW - Working well since clearing 104 resistance on Tuesday
  • LVS - 58 - This one is looking nice for higher prices, but keep an eye out for a possible double top.
  • BRCM - 38.18 - Next buy area when clears this resistance on heavy volume
  • GS - Keep an eye on this one, if it holds above 120 it could see 128-130 quickly
  • ALLT - working well since breaking out on massive volume Tuesday. This is one to add on pullbacks imo
  • WYNN - 130.05 - Next buy area when clears the 200d on heavy volume, looks like it may try tomorrow or next week.
  • TS - 41.70 - Next buy area when clears this descending trend line on heavy volume
  • AMZN - Keep on watch, forming a triangle, when it breaks on volume play accordingly
  • NTAP - 44.60 - This resistance is the next buy area.
  • PANL - 44.70 - Looks ready to test this descending trend line after bouncing off support. keep on watch
  • GOOG - Breaking out of this channel again, this time on above avg volume. One could buy here with a couple dollar stop
  • INFA - Looks good for higher prices, one could buy when it clears 52 on volume
  • CRM - 154.40 - Working well since breaking out last Thursday,  next buy area when clears this resistance line on heavy volume
  • POT - Doesn't look like it's done selling off
  • LNKD - Holding up well since breaking out last week. next buy/add area when clears 95 on heavy volume
  • BIIB - Looks like its setting up to break out to new highs, keep on watch
  • QCOM - Working well since breaking back over 63, looks a little tired...
  • NOV - Bouncing off the 50d here, the more times it tests it, the better the chance it's headed to the 200d
  • DE - May test the 200d again if it can't get through the 20d tomorrow. But if it does break through the 20d it will be taking out a descending trend line, resistance, and the 20d. That'd be strong.
  • APA - Keep on watch, if it can clear back over the 20d it may take out the descending trend line from august.
  • SODA - Ugly ugly... avoid
  • BIDU - Knew all those doji's were bad juju... avoid until it can get back over 142, or the chart sets up better.
  • CXO - sticking to this descending trend line, probably headed to test the 200d
  • AZO - Getting a much needed rest, one could nibble long here with this TL or the 20d as a stop
  • UA - Finally getting a much needed pull back, keep on watch for the chart to set up
Charts -

QCOM

AZO

DE

GOOG

LNKD

CRM

INFA

NTAP

PANL

AMZN

TS

WYNN

BAC

CME

BRCM

NFLX

SHLD

CXO

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