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

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