Thursday, October 4, 2012

Trading Plan for Friday, 10/05

Trading Plan for Friday, 10/05

NFLX - This is the picture perfect setup. Nice breakout yesterday, even better follow through day as far as volume is concerned and at the precipice of breaking the next resistance. Once it gets through the green line, that's the next buy point.

BAC - Breaking this next resistance area on avg volume. Keep a close eye on this one, it could very well find its way back to $10 soon.

GOOG - Breaking out of this channel today to new highs, but the conviction (volume) is lacking, this one needs to be watched for a good FTD (Follow Through Day) for confirmation.

CNX - Nice move, almost 6% today. Here are my lines in the sand for longs and shorts on this one...

CPRX - Overall bearish for now (volume says it all), probably looking to fill that gap. If it can break through that upper line of this channel on good volume, it may be worth a look long.

SPPI - This one is holding on to the uptrend, A good risk reward long from here if comfortable with buying bottoms. I would consider a long when it breaks this green line (resistance area) on heavy volume. The lighter volume here near the trend line is good, means there aren't a lot of sellers at these prices. If it breaks the TL on heavy volume one could grab a few short.

NVDA - Nice breakout on decent volume. Watch for this one to break through the 200d on heavy volume, that's the next buy/add area.

PCLN - Looking primed for a breakout, when this trend line breaks go long.

Charts -








No comments:

Post a Comment