Today was one of those days, some stocks looked promising and failed to deliver, it happens. One thing is for sure this business has its ups and downs. I ended green on the day but it wasn't a very good showing. Well onto the trading plan:
Trading Plan for Thursday, 9/13
BIDU - To the bull side, it needs to get back over 113 to be a solid long play. On the bear side, if it breaks below this lower support line (104.50ish) it will probably make new 52's. The 20d and volume say this is a bearish play.
SHLD - This TL is the line in the sand. The volume isn't great, but we'll take it.
PANL - A good chance this is a false breakout (volume) but keep an eye on it for a good follow through day (FTD)
SODA - This one may attempt to break out of its cage. Keep a close eye on intraday volume tomorrow if it does make the move.
LNKD - Definitely one to watch tomorrow, the light volume and holding price area after big gains says this wants to break through this resistance area. But until it does anything is possible. Price and volume will tell us what to do.
AAPL - Reclaiming the 20d on good volume after yesterdays loss. The 20d is your line in the sand for shorts and the high is the line in the sand for longs.
CRM - May make a good long if it can get a solid FTD tomorrow.
VMW - Holding up well, an ok FTD. Next buy/add when clears 99-100 on heavy volume
AZO - 375 is the next buy/add area on this one. The 20d is starting to perk up, keep a close eye.
GOOG - Bounced nicely off the 20d, expect to see the highs one more time.
KFT - Will it bounce? or will it break? watch this one closely for the break on volume or the bounce on volume.
BAC - Touching this old resistance and getting rejected hard. Watch tomorrow for confirmation of the rejection.
SWKS - Another that looks like it may be ready to break down, watch the trend line