Wednesday, May 30, 2012

ON HIATUS

On vacation until sometime in the fall. When I get back I'll start back up with the charts :)

If you need anything or have a question you may ask through twitter @investlite and I'll respond asap.

Sunday, May 20, 2012

Recap and Trading Plan for 5/21-5/25

Recap -
Wow, what a week! Had the perfect straddle Friday, covered all my short positions and all of my put positions, and all cash! Time to let the market work of this extremely oversold reading, and get capital moved around to maximize whatever comes our way next (probably more downside, but time will tell). On to what we are looking at this week!

All of the analysis below is subject to exclusion should the market bounce (I believe it will) and should be viewed as a longer term analysis.

Trading Plan for 5/21-5/25 -

  • AAPL - starting to look a little bit better (but still ugly). Big volume holding up above this next support line. This is one to keep on watch for how it acts... If it seems to hold up above this line or fridays lows, go long with this support as a stop. If it breaks on heavy volume, look to test sub $500.
  • ADBE - This one looks done, probably a good one to short on any pops
  • AMZN - Another good one to short on any bounces, once they start into the gap, they usually fill.
  • CNX - Nailed this one. Check my last post (and a few prior to that) volume said this one wanted new 52 wk lows, it's getting them. More to come imo....
  • GOOG - This one looks like it wants lower as well, watch for another break below this trend line on heavy volume and grab some puts.
  • JIVE - This one wants lower imo, breaking this support on heavy volume. If/when it breaks the TL on heavy vol, short.
  • K - Keep an eye on this one, if it breaks this triangle on heavy volume play accordingly...
  • LF - Could have a good bounce in it, filled this gap and rallied. If it clears the 20d on heavy volume one can nibble long. 
  • ORLY - Stick a fork in this one, headed much lower.
  • SBUX - Avoid this one, it's headed to 49.50ish...
  • SPY - This is a 5m chart, I am watching this trend line to start a call play on this stock. IF it can clear this on heavy vol, it should have a good bounce for a few days. Of course, chances are high I won't be able to act on this since it will probably be an overnight gap that gets above this.
  • V - This one is filling the gap, next area to watch is when the gap is filled.
  • WDC - TOAST! If you've never seen tost, this is it.
  • WYNN - If this loses 100, I'll grab a short position. But this one looks like it should get a bounce first.
Charts - 
AAPL

ADBE

AMZN

CNX

GOOG

JIVE

K

LF 
ORLY

SBUX

SPY
V

WDC




Tuesday, May 15, 2012

Recap and Trading Plan for Wednesday, 5/16

Recap -
Well, I'll be fishing tomorrow, so limited to my phone for any sort of trading. So I am only going to do a few of the best charts for tomorrow.

Trading Plan for Wednesday, 5/16 - 
  • AAPL - Breaking this support and denying the double bottom. Should see at least 550, if it loses that its down to sub 520 pretty fast! The volume was lackluster today on the break so it could definitely bounce in the short term, but until a bottom is in, this one is heading lower.
  • BIDU - Looks primed to take out this support... you know the drill.
  • BIIB - Needs to break those highs tomorrow or its going to pull back imo...
  • CNX - This one wants to make some new 52 week lows...
  • GLD - Look out below... this one could lose a lot more from here. breaking down on considerable volume.
  • FAZ - This inverse ETF is trying to fill this old gap, which will be the next big resistance.
  • HERO - Breaking the 200d and this support on heavy volume. One can add short when it breaks 4 on volume.
  • JAZZ - May bounce or break this trend line... .
  • NOV - Another to play for the downside...
  • SPY - Hope for a gap up near the neckline tomorrow... if it happens I will pick up some puts. with a 135 stop.
  • WFC - Wanting lower prices. a good puts play if it breaks this support.
  • WYNN - LMAO, this one wants new 52 wk lows.
Charts - 
AAPL

BIDU

BIIB

CNX

FAZ

GLD

HERO

JAZZ

NOV

SPY

WFC

WYNN

Monday, May 14, 2012

Recap and Trading Plan for Tuesday, 5/15

Recap -
Heck of a day, took some early profits on $IWM and $OREX. Still hanging onto some short $IWM. Looking to short aapl when it breaks the 555 barrier on heavy volume. The market is rolling over. Many traders are FINALLY starting to see the head and shoulders pattern I've been showing my readers for a while now. Whenever that pattern looks like its forming its safest to step aside and wait or short. Anyway, lets see if we have a few good ones for tomorrow!

After looking at some charts, the indexes didn't do us justice today. Many underlying stocks (big ones) breaking down hard today. Look for a lot more downside in the near term.

Trading Plan for Tuesday, 5/15 -

  • AAPL - Man, does this one look BAD! If we lose 555 there is a small support at 548, below that we have 515! If greece exits the eurozone quickly, there is a scenario here for sub $500. I see many experienced traders saying they're disappointed with aapl, I'm not! it's been great. Nothing goes up forever and the only way you become disappointed is when you ride it down.
  • AMZN - As this one gets closer to the 220 marker, if volume dries up I'll grab a few long with this support as a stop
  • AZO - This leader is breaking down on considerable volume, one could have nibbled short at the 50d break, next short point when breaks this lower support on volume (to fill the gap)
  • BIDU - Possible double bottom, volume lightened up today... keep on watch... if you want to short you can if it breaks todays low on heavy volume.
  • BIIB - Made new highs today, volume lacking. wait for some conviction (volume) to take a new long position here.
  • DE - Breaking down on heavy volume, dead. I'll grab some short tomorrow (if I remember lol).
  • GLD - Breaking this next support on good volume... ruh-roh... the glenn beck gold bubble may be about to burst ;) lol
  • LGF - Consolidating here, this one is playable either way, but the volume is leaning to break the upper resistance.
  • LVS - Breaking this support on heavy volume
  • MCD - Great short opp here, this one has a lot more downside to come. Broke down on heavy volume. Could see 83's soon.
  • NX - Might be a good bounce play here, big downward movement on light volume. Use trend line as a stop if this suits your strategy. The caution here is that the market is breaking down, bounce plays will probably be short lived until we make a market bottom.
  • ORLY - Looks like it wants to break this trend line.... be ready to short if/when it does.
  • PEET - Just want to post this chart, it's a PERFECT example of a double top... looks poised to take out the 200d
  • SJM - Nice bounce here, but unless it can clear that upper trend line on heavy volume it's headed down.
  • WFC - Wants to test the strength of this trend line, keep on watch...
  • ZAGG - I may nibble a few short here... looking like a setup for lower prices...
Charts - 
AAPL

AMZN

AZO

BIDU

BIIB

DE

GLD

LGF

LVS

MCD

NX 
ORLY

PEET

SJM

WFC 
ZAGG

Sunday, May 13, 2012

Trading Plan for 5/14-5/18

This is my first plan in over a week, sorry about the wait. Finals week and all sorts of things going on. Anyway, the market looks done, just looking for the catalyst to push it lower. Check out the volume on the red days vs the green ones... Well lets see what we've got!

Trading Plan for 5/14-5/18

  • AAPL - This one is headed lower. Bounces are being sold something fierce, this is a short only, for me.
  • ADBE - Also done, see volume.
  • AMZN - Looking good, holding up. Next buy/add when clears that 234 area.
  • AZO - Bouncing off the 50d, getting above this resistance. Volume says down but this stock is resilient... keep on watch
  • BAC - This one is probably dead as well, but keep an eye out for a reversal here on the 200d and gap fill.
  • BBBY - Nice, one can buy/add when it makes new highs on heavy volume. Good looking gap fill and rally
  • BEAM - Watch for this one to fill the gap and bounce. If it breaks this lower support I'd be out (if i were in this trade.)
  • BIDU - lol, do i even need to tell you guys anything?
  • BIIB - Looking fine, holding the breakout... watch for a good FTD and go long.
  • DE - Looks like it wants lower... I may buy some june puts on this thing... itm or ntm.
  • LVS - One can short this one on the break below this long term support.
  • NOV - Great short so far, if it breaks this long term support one can short or add to their position.
  • ORLY - This is the trend line I would keep an eye on here...
  • OREX - This one hit may radar on friday, bought some at 3.68. I'll add monday if it can get considerable volume over $4.
  • QCOM - I'll nibble short if it breaks this TL on volume.
  • SPY - Done... just a matter of when, not if.
  • VZ - Continuing nicely on good volume. Looks good for more.
  • YUM - Needs to hold the 50d and get back above this TL, but volume says it won't. When it breaks 50d one can nibble some short.
Charts - 
$AAPL

ADBE

AMZN

AZO

BAC

BBBY

BEAM

BIDU

BIIB

DE

LVS

NOV

OREX

ORLY

QCOM

SPY

VZ

YUM