Wednesday, October 20, 2010

Wednesday's Game Plan

Longs:

KO: A long on a solid uptrend.

Breakouts:

NTAP > 51.50 Price has to hold above this level for NTAP to be considered.

EBAY: Held at support yesterday and bounced. Formed an intraday bullish U-Turn.

Shorts:

LOW: A sell short. IPT 20.45

WFC: Formed a bearsih U-Turn pattern yesterday intraday at resistance that was previous support. Has alot of room to the downside. IPT at 23.65

COST: Held below previous support which has now become resistance. Has alot of room to the downside after 20 SMA crossed over 10 EMA . IPT 61.50

NUE: A sell short after yesterdays price action.

NEM: Weak sotck that gapped below its range for the since September 14th. IPT 58.40.

BAC: A sell short with alot of room.

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