Thursday, September 20, 2012

Trading Plan for Friday, 9/21

Sorry I didn't get a chance to do charts last night, had some other things come up and was not able to trade today, but will be back at it tomorrow!

Trading Plan for Friday, 9/21

GCI - Making multi-year highs on awesome volume. Have to go back to 09 to see current resistance and what the initial buy should have been. This lower line is what the initial buy point was, the upper line is the next add area, and the next buy/add is when it clears 20 on heavy volume.

FDP - Textbook breakout with a nice FTD. Next buy/add when it clears new 52 week highs.

GOOG - This was our last buy point, continuing on up. Looking good for more gains. Not a time to buy/add until it bases again.

SBUX - Watch this trend line, volume says it'll get rejected for now, but with QE3 it may punch through. Shortable on a rejection buyable on a breakout with volume.

ORLY - Same as SBUX, keep a close eye on these two.

STX - Watch this triangle, a break on volume is actionable.

WFC - Good solid uptrend, these are the kind you buy on the pullback and use the trend line as your stop.

AMZN - Making a nice little base on base pattern here, looking good.

LULU - Nice little cup w/handle developing here. Keep a close eye on this one, gotta love the cup formation.

Charts - 









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