Monday, October 8, 2012

Trading Plan for Tuesday, 10/9

Trading Plan for Tuesday, 10/9 -

NFLX - Well it gapped over our next buy/add area if you weren't nimble enough to buy fridays short lived breakout (I wasn't). This grey line is our next buy/add area. The volume and price on this look good to test it.

RFMK - Bouncing off the 10d and holding above the 200d. Next buy/add when clears this descending trend line on heavy volume (at least double avg daily for a sub-penny).

SRPT - This single line is all that stands between this stock and $19. That said, would make a great short if it breaks on heavy volume, or one can go long with this line as a stop.

AAPL - This ascending trend line NEEDS to stay intact. If it breaks $618 is right around the corner and after that $600. Next buy/add when clears the descending trend line.

CLF - On the cusp of a buy point, a good FTD tomorrow on heavy volume will be great confirmation. These lines are the action points for longs and shorts. Long could see $45 quickly.

VLO - Holding this ascending trend line for now, a break of either is actionable. Volume says it breaks down...

DECK - This stock is broken until it can clear one or both of these areas (lines). May make a good short on pops.

IOC - This one is basing, as long as it holds the lower support it should be good in the long term. Next buy/add area when clears the descending trend line.

SHLD - Getting close to making a descision, a break either way on volume is actionable.


Charts -

AAPL

CLF

IOC

NFLX

RFMK

SHLD

SRPT

VLO

DECK

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