Thursday, March 8, 2012

Recap and Trading Plan for Friday, 3/9

Recap -
Heck of a day! Lots of good movers today, some good follow through days, and just an overall day of big wins! SINA, LVS, QCOM, and LNKD just to name a few.  While we did clear back above the 20d, it was on lighter volume and we didn't break out of the downtrend that started on 2/29.

Trading Plan for Friday, 3/9-

  • SPY - 137.35 - Bounced nicely today but closed below this descending trend line. Also, lighter than avg. volume, so keep your stops.
  • LNKD - 93.60 - If you didn't buy this one today on the downtrend breakout and massive volume, your next buy point is here.
  • HFC - 35.50 - This one has a nice move today. wait for it to break above this resistance and go long.
  • SHLD - 79 - This one broke this descending trend line today, you could have bought but if you held off wait for the 79 break on volume
  • WFC - 32 - This one broke through resistance on a little above avg volume. If you're not already in wait for the break above 32
  • PEET - 67.30 - This one broke out of the downtrend today, but lighter volume. FTD is key and this is the next buy area
  • BIIB - 120.50 - This one was a buy today (breakout and volume), been on watch for a couple weeks to break this consolidation channel, one could buy at this price with the resistance as a stop.
  • SINA - 77 - held up well today making a little doji, next buy area is when it clears this resistance level on heavy volume
  • NFLX - 20d - Next buy area is when it clears the 20d on volume, short if it loses 50d on volume
  • INFA - 50.80 - This one looks poised to break through this resistance area
  • BEAM - 55.45 - This one did well today, almost triple the avg volume, cleared above 20d and descending trend line. one can buy here with the TL as a stop.
  • LVS - 55.50  - This one held the 20d and is now poised to break back above this old resistance line
  • PETM - This one can be bought on pullbacks with todays low as a stop, broke out yesterday and followed through great with big price gains and heavy volume
  • UA - 93.36 - Cleared back above this resistance level/buy area today, lighter volume so be cautious.
  • FIRE - 46.45 - Poised to clear back above this resistance level/buy area.
  • BRCM - 36.30 - Nice cup with handle formation, can be bought when it clears upper channel or clears the cup on heavy volume.
  • NOV - 83.22 - Next buy area is when it clears the 20d on volume
  • CRM - 146.60 - Broke out, but closed back below the resistance area, keep a tight stop and watch volume when it breaks through.
  • APA - 108 - next buy area when clears back over the 20d on volume
  • BIDU - Still within this triangle, watch for the break on heavy volume.
  • BBBY - 63 - Cleared this descending trend line today on ok volume, watch for an FTD and go long
  • CRR - Continuing to work since yesterdays breakout, doji today, stick to your stops
  • CXO - 105.80 - Looks like it may have put in a bottom, next buy area when it clears the 50d on volume
  • QCOM - 64 - Keep your eyes on this one, broke back through resistance after pulling back. Poised to make new highs imo
  • VZ - keep on watch, got above that 39 point, but it's ugly...
  • CVX - 111 - This one held up well on the market pullback and is sitting right on this resistance  line, buy the breakout to new highs.
  • ALLT - 18.35 - Nice cup w/handle, keep on watch to break this upper portion of the handle
Charts -

















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