Sunday, April 15, 2012

Trading Plan for the Week 4/16-4-20

Recap - 
Heck of a nice week for us, up over 200% on VXX calls and up about 60% on SPY puts that we bought the last few weeks. The market is rolling over nicely. If it can take out last weeks lows on heavy volume it should see much lower prices. That being said, it has to take out those lows, so if you are not already short I wouldn't recommend a new short position until it breaks that on heavy volume. On to next week!

Trading Plan for the Week 4/16-4-20

  • SPY - Notice the volume candles this week. Broke down on heavy heavy volume, rallied on lighter and broke back down on heavier volume again. This market is top heavy. The McClellan oscillator worked off that extremely oversold reading and looks ready for more downside with this head and shoulders pattern.
  • AAPL - This one was down while the market was bouncing, which signals the underlying weakness, once the volume came back it was down massively. Breaking this trend line, could see sub-600 this week.
  • ALLT - I already got out of this one, but if you are holding this is the trend line to watch followed by the support above 21.
  • AMZN - Holding up well, if it can hold this trend line through the rest of this correction it will be one to buy imo.
  • AZO - This one is holding up, but on lighter volume. This channel shows the next actionable trading points. a break of either should be played accordingly.
  • BAC - If it breaks this lower support, it'll make a good short imo. if it gets back above the 20d it could be a good long.
  • BBBY - Watch this support, if it breaks it'll be an easy gap filler imo.
  • BEAM - Next Buy point when clears 20d on heavy volume.
  • BRCM - Another one to watch for a trend line break, if it breaks on volume puts will be my weapon of choice here.
  • CRM - One of the few longs that is worth looking at right now. If it can clear back above this upper resistance on heavy volume, then one can go long (if you aren't already).
  • DE - This one is looking good for lower prices as well. But if it can clear back above this broken trend line on heavy volume one can nibble long.
  • GLD - This trend line has yet to fail us. GLD keeps trying to get over it but failing.
  • GMCR - Looking ready to break back down, needs some volume to prove otherwise.
  • GOOG - This is worse than a bearish engulfing candle, this is what I call a GTFO candle. watch how it acts with the 50d and if you aren't short you can go ahead and take a position if it breks on heavy volume.
  • INFA - This one could go either way. If it breaks bad through the 20d on heavy heavy volume, one can go long. if it breaks back down below this support one can short.
  • JAZZ - This head and shoulders pattern is working well.
  • LNKD - Another of the rare gems that are worthy of a long position. if it takes out fridays highs one can grab a few long for a trade.
  • MOS - Watch for this TL to break
  • POT - This one has broken this trend line on volume twice in the last week... do I need to say more?
  • STX - Another gem. If it can clear this trend line on heavy volume one can go long.
  • UA - This one has been strong as well, just keep on watch for now
  • VZ - Also breaking down on heavier volume than the rallies. looks good for more down side.
  • WFC - Another one breaking down on heavy volume look for this one to hit 32.
  • WYNN - Holding up well, needs to get back above the 20d and 200d...
  • YOKU - Working higher on solid volume. keep an eye for it to clear this next buy/add area.
  • ZAGG - Next buy/add when clears 200d on heavy volume. Looking poised imo...

Charts - 




















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