Wednesday, April 18, 2012

Trading Plan for Thursday, 4/19

This will be my last update for this week. I will be on twitter off and on thurs/fri, so if you have a question give me a shout and I will help as best I can. Pathetic volume on the indices today. Look for more downside to come.

Trading Plan for Thursday, 4/19
  • AAPL - Touching this broken trend line, look for more downside unless it can clear back above on heavy heavy volume.
  • AMZN - Unless it can clear back above 195 on heavy volume, avoid.
  • AZO - Holding up well, consolidating, keep an eye on this channel.
  • BBBY - Looking ever more like its going to break down....
  • BEAM - Looking like a good short if it breaks this support on volume.
  • GLD - This one looks done as well. Next short area when breaks this support.
  • GMCR - Notice the volume. Up on light volume, down on heavy volume. Poised to take out this next support and make some new yearly lows imo.
  • GOOG - Same as yesterday, looking to short this one when it breaks this support line
  • LNKD - Holding above the 20d, keep on watch.
  • NVDA - Working well as a short since breaking this trend line. Next area to watch is this support.
  • SINA - Called this one yesterday, broke down on heavy volume today, more downside to come imo...
  • STX - Been onto this one for a while now, making new highs on heavy volume, more to come imo.
  • TS - Volume is key... rejected hard at the 200d watch for it to break this support.
  • WDC - Breaking this resistance area and 20d on heavy volume, looks good. Next buy/add area when clears 43 on heavy vol.
  • WYNN - Finally getting above the 200d on heavy volume. earnings tomorrow, avoid. (Never hold through earnings)
  • YOKU - Setting up to test this resistance soon, notice how the volume is dying on this pullback, exactly what you want to see.
Charts -















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