Wednesday, September 26, 2012

Trading Plan for Thursday, 9/27

Recap - The market has enjoyed a nice pullback the last few days, but it's looking like it may be ready to continue upward soon.

Trading Plan for Thursday, 9/27 -

GMCR - At this next support, if the market is ready to go up this may get a nice bounce and break out again.

FOSL - Also near support. Watch for a similar bounce or rally.

LULU - Broke this support, but holding the 20d. Keep an eye on how it acts tomorrow, if it can get back over that resistance it may head for some new highs.

LVS - Next buy/add area when clears 200d on heavy volume

GOOG - 5m chart showing where I was stopped out (protect your profits) and where I'll buy back in tomorrow if it continues upwards. Yes I'll gladly miss out on a few $ for the security of cash.

AZO - Nice little falling wedge here. Be ready when it breaks out.

NFLX - Holding this support, but if it fails look out below... a break of the descending trend line would show some strenght, not much but some...

OVTI - See that red volume, it's still got room to go down much further. Weak hammer candle today so it may be near bottoming out. Not looking too hot though...

ZAGG - Breaking down further after a rejection at resistance and the 50d. This reinforces the tight stop if buying before the breakout, but I have a hunch this may bounce alright soon, just a hunch though...

CNX - Probably a good short, especially if the market fools everyone and continues downward.

Charts -










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