Random thought, how is it that $AAPL can single handed-ly keep the market up, but when it tanks it can't single handed-ly take it down? Just something to think about...
Trading Plan for Wednesday, 5/2
- AAPL - This one is done... don't even consider long until the gap fills imo... Next short buy/add when breaks 580 on vol...
- ALLT - Nice gap here, one can buy (back) if/when it breaks 27 on heavy volume.
- AMZN - Resting on lighter volume, looking nice... but that big gap is scary... if it breaks 220 on volume you're stupid to hold imo.
- APA - Continuing after breaking out last week. next buy/add when clears 200d on heavy volume
- CME - Usually you get a nice bounce off the 200d, but when it breaks on volume, short is the way I roll.
- CXO - One can go long if it breaks 109.30 on heavy volume, or one can short (quickly) if it breaks this support.
- FIO - Breaking down on HEAVY volume... if not already short, when it loses 24 one can buy/add to a short position.
- KFT - I got out of this one today, if it can't get through 40 on conviction why hold?
- LULU - Keep an eye on this one, may want more highs...
- NOV - Look for at least the 200d on this one, if it doesn't gap down I'm buying puts in the morning with this support line as a stop. Broke this support on heavy volume.
- NTAP - Looking great, bouncing off this support on heavy volume, getting back above the 200d next buy/add when clears todays highs on heavy volume.
- SHLD - Watch tomorrow for it to hold the resistance it broke through today, go long if it holds...
- STX - More highs on nice volume, sold this one today too... probably pre-mature, but time will tell... (and I can buy it back ;)
- VZ - Another nice one today, same as STX...
- WDC - Watch what it does with this resistance point...
- ZNGA - Nice double bottom (look at the 5m chart, it's a double bottom) On heavy volume! One can buy here with this support as a stop, looking good imo...