Monday, April 2, 2012

Recap and Trading Plan for Tuesday, 4/3

Recap -
Alright! Heck of a day! we had ZAGG, INFA, UA, and VMW leading the way! Making us some beautiful profits and breaking through resistance! Can't ask for much more than that! Now if we can have another day like this tomorrow, I can stop trading for the week ;) (other than the fact that I'm an addict)

Trading Plan for Tuesday, 4/3

  • OCZ  - This one looking like it may be bottoming out, needs to clear back through the 200d before buying unless you have a high risk tolerance. If you buy here, use this fib/support as a stop area.
  • BIDU - This one is holding above this support, one can buy here with a stop around 144.75
  • V - This one is building a nice rising channel, one could use this lower line as a stop area (I always recommend allowing a little extra room to keep from getting stopped out by MM's and their games.)
  • MA - This looks good for higher prices, breaking back through this resistance area on solid volume and good price action. 
  • FCX - Poised to clear this descending trend line, buy/add when it clears on volume.
  • YOKU - Looks bad, needs to  get back over $27 to really have a shot at making something of itself, otherwise this one looks ready to break this ascending trend line
  • GMCR - This was a great short from the 50 and 48 breaks... looks like it will test 40, but may find support at this small support at 42
  • ZAGG - We called that pullback to the 20d perfectly, rocketing back through eleven today on solid volume, wait for it to break this next resistance (add) and the 200d (buy/add) to buy/add more.
  • INFA - Rocketing through this next buy/add level with above avg volume. Bullish engulfing candle... Nice.
  • UA - Clearing back above the 20d one can nibble a few here with a close stop.
  • CNX - Breaking through this trend line on lighter than avg volume, watch for a good FTD (follow through day) and a break above the 50d to go long.
  • JAZZ  - Looking like it might break up out of this H&S pattern
  • AZO - Bouncing nicely off this support, one can buy/add when clears 20d on heavy volume
  • VMW - Working higher today, up $12+ since original entry, can't complain about that, looks good for more imo. Raise your stops as the price raises
  • MCP - Failing to break this resistance, keep on watch for a break on heavy volume.
  • CRM - Nice big bullish engulfing candle today on a little above avg volume. Next buy add area when clears 160.25 on heavy volume
  • DE - Clearing this descending trend line today, next buy/add when clears 84 on heavy volume
  • BIIB - Consolidating nicely here after breaking out on heavy volume. one can buy/add when it clears 128 on heavy volume
  • ALLT - Expect some consolidation here, looking like its at about stage 2 which should provide some basing. When clears 24.05 on Big volume one can buy/add
  • BAC - This could go any day, resting/waiting for the 20d and when it gets close enough will probably rocket through this next resistance at which point one can buy/add
  • ADBE - Looking ready after a nice bounce off the 20d, when it clears this area on volume, go long
  • WFC - Next buy add when clears 34.65 on heavy volume
  • NOV - Keep a close eye, approaching this next buy/add area
  • LVS - This is one to add on dips with a close stop, next real buy/add area when clears 60 on volume
  • SPY - Needs to break this upper line if it wants to exceed terminal velocity.
  • GS - Looks like its setting up to break this resistance
  • SINA - We will see if this bottoms around 60, keep on watch
Charts - 























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