Wednesday, October 27, 2010

Wednesday's Game Plan

The market again traded in the range yesterday on below average volume. Little has changed as the SPY closed right at where it closed off the day before.

Longs:

EBAY: A long after taking out multi year highs.

UAL: A long.

TJX: IPT 46.75.

PM: A long that had an inside day yesterday.

DD: A long that formed a bullush U turn intraday yesterday on above average volume.

DOW: A long that formed an inside day yesterday.

Breakouts:

DIS> 36.22

SBUX>28.60

Shorts:

CHK: A sell short that showed some short selling yesterday.

WLP: Weak stock with room to go. IPT at 54.83

COF: A sell short.

MS: A sell short, has to go below 24:00 and hold to confirm weakness.

Breakdowns:

KGC < 17.40.

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