Thursday, March 1, 2012

Recap and Trading Plan for Friday 3/2

Heck of a day!
We had LVS, UA, and WYNN taking us up after breaking out the last couple of day. GS broke out on great volume, awesome candlestick. GOOG held up well and bought some ZNGA the last hour which we're up on about 40%, but it's still rallying after hours so tomorrow we may open around $15 (which should put our calls nearing the 75-100% mark). Missed the BIIB breakout at the end of the day, so looking to get into that one tomorrow maybe.

The market is relentless, keeps churning out a few extra points. Won't last forever, but until it changes, no reason to fight it imo.

Trading Plan for Friday

  • GS - They don't get any better than this. the buy point was this resistance break. Look at the volume! And that is one sexy candlestick! Next buy area is 125.50 on volume, or if it retests this support and holds.
  • UA - Had a great day, good looking setup here. buy the pullbacks with a couple dollar stop.
  • VMW - Another good one, broke up through 101, almost to 102.
  • WYNN - Great follow through day on this one, next buy area when clears 125 area on volume
  • SINA - Continuing to base after a big run on earnings. next buy area is when it clears 72 on volume
  • LVS - This one is unstoppable. if it pulls back on a market correction, load the boat imo. no real resistance until the 63-65 area. 60 may be mental resistance
  • BIIB - Missed this one today because I was too busy watching ZNGA. But this looks pretty good. decent volume, breaking above 20d and through the descending trend line.
  • NOV - Keep on watch tomorrow, if it can break above this trend line i'll ditch my puts and buy more calls, formed a bullish harami candlestick formation today.
  • BIDU - Keep a close eye on this one, looks ready to break this triangle to the upside. When it clears 141 on good volume, go long.
  • PEET - Keep on watch, may break this descending trend line, may  fill the gap.
  • INFA - Go long when it clears 50.75 on volume
  • APA - Watch this one, may bounce off the 20d and break this trend line.
  • VZ - Breaking this descending trend line, but needs to clear the 50d. go long over 38.50 on volume
  • WFC - I think this one ultimately fails, inverted hammer, doji, I could be wrong. Just be careful.
  • POT - Still fighting this trend line
  • QCOM - Kissed the 20d and rallied, healthy action, maybe hop in this one with a $1 stop
  • GOOG - I'm interested in what this does tomorrow, UA did the two doji's very similar then rallied, so lets see if that happens here. (a good buy point will be today's high on strong volume)
  • BEAM - Seems tired, but wants to break through this descending trend line.
  • ZNGA - Can't forget this little beauty! up 10% on good volume, making new highs, up another .70 after hours, large short interest, this could see 16-17 soon.
Charts - 













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