Thursday, May 3, 2012

Chart Requests!

I'm only doing requested charts tonight due to the fact that I'm exhausted, haha! Remember that this week is the end of earnings season... There are multiple indications that money has started leaving the market, be careful with longs here... Anyway, here they are:
  • CRM - Being sold off on very heavy volume. Looking like it wants lower prices, next buy/add short is when it breaks this lower support and 50d on volume.
  • LULU - Continuing to make new highs on volume, if you're not in this one already wait for it to base or pull back.
  • AMZN - Continuing to base after breaking out on great earnings. if it holds this old support the next buy area is when it clears 234 on volume, otherwise wait to see how it acts on this lower support.
  • JWN - This was the buy point and as such should be the sell point if it breaks back down. The volume says it could continue higher, but tomorrow will give a better indication of where this one wants to head.
  • MELI -This one is breaking down, but the volume isn't 100% committed, were I in this trade I'd watch how it acts with this 20d moving avg... if it breaks it like its not even there, I'd ditch it, maybe even switch to a short position as it should test 87's if it loses out here.
  • SHLD - This one wants higher prices (notice the volume) the problem is the gap... The price to watch is 56.55 if it gets much below that, the gap is going to fill before it goes back up.
  • P - Next buy/add when clears this descending trend line on heavy volume (around $9)
  • WMT - This one is one to avoid until it gets above this resistance area (horizontal line). Broke down on huge volume, will probably test 200d again.
  • GMCR - AVOID... This one is done, look at that huge volume to the downside. The institutions want OUT of this thing. So should you.
  • FSLR - Systematically making new lows... no sign of stopping...
  • APA - Looks like it wants to test lower prices. watch for it to break this support on volume and go short.
Charts -










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