Thursday, November 8, 2012

Trading Plan for Friday

Well I hope you all made money prior to the election, I took a break the week prior and resumed yesterday. SPY puts made some cash :D. At this point it's a tricky market, not worth taking new positions in until action points are hit. So if you're in cash, it was a smart move and a smart place to stay until some actionable moves happen. Let's look at tomorrow!

Trading Plan for Friday -

CYNO - Basing here below this resistance, next buy/add when clears on heavy volume. One can short if it breaks the ascending trend line.

NFLX - Also basing right below resistance (gray) and the 200d. When clears on heavy volume, go long.

AAPL - A normally resilient stock that looks like it may want even lower. Possibly a bounce here at the FIB 50% retrace. If it breaks this on heavy volume it's down to 500 pretty quick (slight support at 515ish)

GOOG - Hitting this next support. If/when it breaks on volume, it's very short-able.

SPY - Breaking the 200d on heavy volume. These are the next action points both ways. I will continue to take money off the table into the downward strength, and retake my position if it breaks the ascending trend line.

Charts -