Tuesday, April 24, 2012

Ideas for Wednesday, 4/25

Recap - 
Still looking like the direction for the medium term is down. 20d poised to break below 50d on most of the indices. The only question is: can aapl rescue the market? I doubt it, but we'll see. Here's a few I'm looking at for tomorrow...

Ideas for Wednesday, 4/25

  • SPY - I am watching this triangle. a break of the upper trend line should provide an opportunity to day trade long. A break of the lower should provide for a longer swing trade short.
  • AAPL - Watch the action and volume tomorrow, if it can get above the 20d and hold it could make a decent swing play for the double top... imo this has more downside to come, needs to retest below 550. but this is a cult stock so I could definitely be wrong.
  • AMZN - A break of this triangle on volume should provide for a nice playable trade in the respective direction.
  • BRCM - Looking ugly, nice short since breaking this trend line, it is at this next area to add short or watch for a bounce... this is at support. Judging by the volume and no reversal candles, it breaks... that said trade the reality not the hunch.
  • CRM - Broke this support on heavy volume.  looks like it wants to fill the gap imo... one can buy/add short when it breaks the 50d on heavy vol, then again at this last support before the gap
  • GS - Getting a nice bounce, but lighter volume. looking like it wants to break this support, but either break is trade-able here.
  • LULU - Do you see it? There was a subtle, but reliable warning... more downside to come... (H&S pattern)
  • NFLX - Not even going to post this chart, but will be  picking up some shorts here.
  • NOV - Watch the triangle, play accordingly.
  • NVDA - Bearish engulfing, heavy volume, broken support, etc. 
  • SHLD - At yet another support LMAO! will it break this one too!?!?
  • VZ - After good earnings, watch for this trend line breakout on heavy vol and go long
Charts - 
AAPL

BRCM

CRM

GS

LULU

NOV

NVDA

SHLD

SPY

VZ





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