Recap and Trading Plan for Tuesday, 5/15

Recap -
Heck of a day, took some early profits on $IWM and $OREX. Still hanging onto some short $IWM. Looking to short aapl when it breaks the 555 barrier on heavy volume. The market is rolling over. Many traders are FINALLY starting to see the head and shoulders pattern I've been showing my readers for a while now. Whenever that pattern looks like its forming its safest to step aside and wait or short. Anyway, lets see if we have a few good ones for tomorrow!

After looking at some charts, the indexes didn't do us justice today. Many underlying stocks (big ones) breaking down hard today. Look for a lot more downside in the near term.

Trading Plan for Tuesday, 5/15 -

• AAPL - Man, does this one look BAD! If we lose 555 there is a small support at 548, below that we have 515! If greece exits the eurozone quickly, there is a scenario here for sub $500. I see many experienced traders saying they're disappointed with aapl, I'm not! it's been great. Nothing goes up forever and the only way you become disappointed is when you ride it down.
• AMZN - As this one gets closer to the 220 marker, if volume dries up I'll grab a few long with this support as a stop
• AZO - This leader is breaking down on considerable volume, one could have nibbled short at the 50d break, next short point when breaks this lower support on volume (to fill the gap)
• BIDU - Possible double bottom, volume lightened up today... keep on watch... if you want to short you can if it breaks todays low on heavy volume.
• BIIB - Made new highs today, volume lacking. wait for some conviction (volume) to take a new long position here.
• DE - Breaking down on heavy volume, dead. I'll grab some short tomorrow (if I remember lol).
• GLD - Breaking this next support on good volume... ruh-roh... the glenn beck gold bubble may be about to burst ;) lol
• LGF - Consolidating here, this one is playable either way, but the volume is leaning to break the upper resistance.
• LVS - Breaking this support on heavy volume
• MCD - Great short opp here, this one has a lot more downside to come. Broke down on heavy volume. Could see 83's soon.
• NX - Might be a good bounce play here, big downward movement on light volume. Use trend line as a stop if this suits your strategy. The caution here is that the market is breaking down, bounce plays will probably be short lived until we make a market bottom.
• ORLY - Looks like it wants to break this trend line.... be ready to short if/when it does.
• PEET - Just want to post this chart, it's a PERFECT example of a double top... looks poised to take out the 200d
• SJM - Nice bounce here, but unless it can clear that upper trend line on heavy volume it's headed down.
• WFC - Wants to test the strength of this trend line, keep on watch...
• ZAGG - I may nibble a few short here... looking like a setup for lower prices...

Charts - 

AAPL

AMZN

AZO

BIDU

BIIB

DE

GLD

LGF

LVS

MCD

NX 

ORLY

PEET

SJM

WFC 

ZAGG

Trading Plan for 5/14-5/18

This is my first plan in over a week, sorry about the wait. Finals week and all sorts of things going on. Anyway, the market looks done, just looking for the catalyst to push it lower. Check out the volume on the red days vs the green ones... Well lets see what we've got!

Trading Plan for 5/14-5/18

• AAPL - This one is headed lower. Bounces are being sold something fierce, this is a short only, for me.
• ADBE - Also done, see volume.
• AMZN - Looking good, holding up. Next buy/add when clears that 234 area.
• AZO - Bouncing off the 50d, getting above this resistance. Volume says down but this stock is resilient... keep on watch
• BAC - This one is probably dead as well, but keep an eye out for a reversal here on the 200d and gap fill.
• BBBY - Nice, one can buy/add when it makes new highs on heavy volume. Good looking gap fill and rally
• BEAM - Watch for this one to fill the gap and bounce. If it breaks this lower support I'd be out (if i were in this trade.)
• BIDU - lol, do i even need to tell you guys anything?
• BIIB - Looking fine, holding the breakout... watch for a good FTD and go long.
• DE - Looks like it wants lower... I may buy some june puts on this thing... itm or ntm.
• LVS - One can short this one on the break below this long term support.
• NOV - Great short so far, if it breaks this long term support one can short or add to their position.
• ORLY - This is the trend line I would keep an eye on here...
• OREX - This one hit may radar on friday, bought some at 3.68. I'll add monday if it can get considerable volume over $4.
• QCOM - I'll nibble short if it breaks this TL on volume.
• SPY - Done... just a matter of when, not if.
• VZ - Continuing nicely on good volume. Looks good for more.
• YUM - Needs to hold the 50d and get back above this TL, but volume says it won't. When it breaks 50d one can nibble some short.

Charts - 

$AAPL

ADBE

AMZN

AZO

BAC

BBBY

BEAM

BIDU

BIIB

DE

LVS

NOV

OREX

ORLY

QCOM

SPY

VZ

YUM

Chart Requests!

I'm only doing requested charts tonight due to the fact that I'm exhausted, haha! Remember that this week is the end of earnings season... There are multiple indications that money has started leaving the market, be careful with longs here... Anyway, here they are:

• CRM - Being sold off on very heavy volume. Looking like it wants lower prices, next buy/add short is when it breaks this lower support and 50d on volume.
• LULU - Continuing to make new highs on volume, if you're not in this one already wait for it to base or pull back.
• AMZN - Continuing to base after breaking out on great earnings. if it holds this old support the next buy area is when it clears 234 on volume, otherwise wait to see how it acts on this lower support.
• JWN - This was the buy point and as such should be the sell point if it breaks back down. The volume says it could continue higher, but tomorrow will give a better indication of where this one wants to head.
• MELI -This one is breaking down, but the volume isn't 100% committed, were I in this trade I'd watch how it acts with this 20d moving avg... if it breaks it like its not even there, I'd ditch it, maybe even switch to a short position as it should test 87's if it loses out here.
• SHLD - This one wants higher prices (notice the volume) the problem is the gap... The price to watch is 56.55 if it gets much below that, the gap is going to fill before it goes back up.
• P - Next buy/add when clears this descending trend line on heavy volume (around $9)
• WMT - This one is one to avoid until it gets above this resistance area (horizontal line). Broke down on huge volume, will probably test 200d again.
• GMCR - AVOID... This one is done, look at that huge volume to the downside. The institutions want OUT of this thing. So should you.
• FSLR - Systematically making new lows... no sign of stopping...
• APA - Looks like it wants to test lower prices. watch for it to break this support on volume and go short.

Charts -

AMZN

CRM

FSLR

GMCR 

JWN

LULU

MELI

P

SHLD

WMT

Trading Plan for Wednesday, 5/2

I sold all of my long positions today. $ALLT $STX $VZ and $KFT made me some great money and I'm willing to buy them back if the market makes new highs on HEAVY HEAVY volume. Right now the market is in danger territory, it's been a good bounce, but there is major resistance up here... Seasonal selling should start soon and there are plenty of warning signs that this market wants lower. Anyhow, on to tomorrow!

Random thought, how is it that $AAPL can single handed-ly keep the market up, but when it tanks it can't single handed-ly take it down? Just something to think about...

Trading Plan for Wednesday, 5/2

• AAPL - This one is done... don't even consider long until the gap fills imo... Next short buy/add when breaks 580 on vol...
• ALLT - Nice gap here, one can buy (back) if/when it breaks 27 on heavy volume.
• AMZN - Resting on lighter volume, looking nice... but that big gap is scary... if it breaks 220 on volume you're stupid to hold imo.
• APA - Continuing after breaking out last week. next buy/add when clears 200d on heavy volume
• CME - Usually you get a nice bounce off the 200d, but when it breaks on volume, short is the way I roll.
• CXO - One can go long if it breaks 109.30 on heavy volume, or one can short (quickly) if it breaks this support.
• FIO - Breaking down on HEAVY volume... if not already short, when it loses 24 one can buy/add to a short position.
• KFT - I got out of this one today, if it can't get through 40 on conviction why hold?
• LULU - Keep an eye on this one, may want more highs...
• NOV - Look for at least the 200d on this one, if it doesn't gap down I'm buying puts in the morning with this support line as a stop. Broke this support on heavy volume.
• NTAP - Looking great, bouncing off this support on heavy volume, getting back above the 200d next buy/add when clears todays highs on heavy volume.
• SHLD - Watch tomorrow for it to hold the resistance it broke through today, go long if it holds...
• STX - More highs on nice volume, sold this one today too... probably pre-mature, but time will tell... (and I can buy it back ;)
• VZ - Another nice one today, same as STX...
• WDC - Watch what it does with this resistance point...
• ZNGA - Nice double bottom (look at the 5m chart, it's a double bottom) On heavy volume! One can buy here with this support as a stop, looking good imo...

Charts

AAPL

ALLT

AMZN 

APA

CME

CXO

FIO

KFT

LULU

NOV

NTAP

SHLD

STX

VZ

WDC

ZNGA