Monday, March 12, 2012

Recap and Trading Plan for Tuesday 3/13

Recap -
Today was just one of those boring days. Not a lot working out to great lengths from our scan. Today's doji on SPY says it all. The overall market needs to kick it into high gear because this is starting to look/feel more like a top. Not calling top yet, they take a few weeks to form usually and this may very well power on through and continue the uptrend. On to bigger better days!

Trading Plan for Tuesday 3/13

  • SODA - The short squeeze is on! This is what I'd been hoping for on earnings, but no luck there. The shorts only have one day left to cover, so tomorrow could be another up day.
  • CRR - 105.70 - This one has worked well since breaking out last week on good volume. next buy area when clears 50d on volume.
  • XOM - 86.15 - Perked up today, may have a good run in it. Next buy area when clears this descending trend line on volume
  • AAPL - Broke through this resistance at 550 today, one could nibble here with a few dollar stop. looks good for higher prices
  • PEET - 70 - This one continuing to work well since breaking out last week, watch for it to continue higher. next buy area is when it clears 69.50-70 on volume
  • LNKD - 95 - This one was disappointing after a good start it pulled back down making a hammer candle, if it closes back below the 20d, might short for  a DT
  • VZ - 39.50 - Poised to break above this resistance line.
  • UA - continuing to hold up well. one could buy the pullbacks with a $1-2 stop or wait for it to break the century mark.
  • CVX - 111 - Just killing its head on this old resistance, go long over 111
  • INFA - Same as yesterday, wait for that upper resistance to break out of this cup w/handle
  • CRM - 148.30 - This one held above this upper channel, next buy area is when it clears 148.30 on volume
  • GS - Struggling with this resistance, thinking the banks will do well after the stress test later this week
  • BEAM - 56.70 - got rejected just below the new highs today, watch for the double top or the break.
  • AZO - This is one to buy on the pullbacks with this trend line as a stop. If it breaks the TL, short may be a good option
  • BIDU - More doji's... scary...
  • VMW - 99.30 - This one is holding this ascending trend line, if it breaks it and the 20d, could see low 90's before trying over 100 again
  • ALLT - keep a close eye, if it breaks the handle on volume it could have a heck of a run
  • GLD - 166.39 - I don't necessarily like this setup, but could breakout so its worth setting an alert.
  • DE - Breaking this ascending trend line today, looks ready to test below the 200d imo...  but watch for the double bottom
  • NTAP - 43.20 - Just holding below this trend line, watch for the breakout on volume
  • BRCM - Keep this cup w/handle on your watch list for the breakout
  • TS - 42 - This one looks like its setting up to break this descending trend line
  • NVDA - Look to short this one when it breaks this trend line on volume. 
  • POT - 42.85 - Look to short under this level
  • CME - Toast for now, watch how it acts on the 200d test and wait for the chart to set back up
  • CNX - 32.25 - Look to short under this level with this TL as a stop, really an ugly chart
  • SINA - 77 - Big ugly red candle, one could short with this resistance as a stop
  • OPEN - Finally committed to the breakdown today, watch for more tomorrow
Charts - 

CRR

XOM

AAPL

VZ

LNKD

PEET

CVX

CRM

GS

AZO

VMW

BEAM

ALLT

GLD

DE

TS

BRCM

NTAP

CNX

OPEN

NVDA


No comments:

Post a Comment