Wednesday, October 17, 2012

Trading Plan for Thursday, 10/18

Trading Plan for Thursday, 10/18 -

ZGNX - Looking good, hitting this minor resistance area. Next buy/add when makes new highs on heavy volume.

SCMP - Holding the breakout, needs to keep above this support. Next buy add when clears the next resistance area (green line)

ZAGG - Getting close to decision time now... keep a close eye...

OVTI - These are the action points I'd be watching. Short on a break of the ascending trend line, long on the break of both the resistance (horizontal) and the descending trend line. All on volume of course.

SPY - This is the trend line I'm watching, if it breaks on volume I'll sell my calls and run with my tail between my legs... The more it looks like Mitt Romney will win, the more sustainable these gains will be, imo.

CLF - Held the break out, now clearing this next resistance area on good volume. Closed right near the HoD, looking good for more gains. Was underwater for a few days on this one, glad it ended up working out.

Charts - 







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