Mondays Gameplan

Longs: MS (15.00), BBY (23.00)

Breakouts: SLW( IDB R= 29.25 S=28.50), UAL>22.00, X>26.25 (HBO), TSO>22.50, CHK<22.50, KO>67.75, NVDA<13.50, FCX<36.50, PM>76.75, AKAM<26.25, GDX>53.25,

Notes:

BBY will soon explode.

USD strong as the SPY continuous to consolidate, I don't expect it to take out either extreme this due to the holidays. Should it take out either extreme, I expect prices to reverse and revert back to the mean.

VIX is holding below its 200 SMA at 24.29

Thursdays Gameplan

Longs: COST (82.30 & 50% retracement level), INTC (23.00), KLAC (45.50, 50 SMA & 50% retracement level), VIAB (42.00), HON (51.50), ALTR (33.80 & 66% retracement level, very clean setup), CDE (25.00).

Breakouts: NTAP<36.50, AGCO<40.50, CHK>22.50.

Notes:

KLAC - Best setup

Wednesdays Gameplan

Longs: CHK (23.50), KLAC (46.50), INTC (23.25), CIEN (11.25)

Breakouts: XOM<79.50, POT<39.50, VIAB (IDB R=43.65 S= 42.85), QCOM<53.75, KSS<50.00, HAL<31.50, WDC<31.00, AKAM<26.25, SLW<30.50,UAL<19.50,

Shorts: SBIX (SWING), BBY

Notes:

SPY to open lower in no mans land, making it difficult to predict direction. A choppy session could be expected.

No major news reports or indicators coming out today.

VIX @ 25.00

Wednesdays Gameplan

Longs: LULU (45.00), AKAM, JDSU, NVDA,

Breakouts: HAL<35.00, COF>47.00, NVDA<15.10, AXP (IDB R=49.00 S=48.50), COP (IDB R=73.30 S=72.50), PM (IDB R=75.85 S=75.30), CE>47.00, WFC<26.50, DIS>37.40, C>30.00(Deathzone breakout), AGCO (IDB R=46.50 S=45.50),KSS (IDB R=51.00 S=50.40), UNH (IDB R=48.65 S=48.00), INTC>25.50



Notes:

SPX inside day at 200 SMA.

Nothing outperforming at the moment as the market remains in balance.

Tuesdays Gameplan

Longs: SLW, POT, GG (50.00), M

Breakouts: UNH<48.00, ABT<54.00, COP>73.50, KSS (IDB R=51.00 S=50.25), AKAM (IDB R=29.75 S=29.00), SBUX>44.50, DIS>37.50, HON>55.50, CE>47.00, COF>47.25,KLAC>48.75,

Shorts: NVDA (swing short), SNDK

Fridays Gameplan

Longs: BA

Breakouts: VIA.B>36.00, C (IDB R=27.20 S=26.60), AGCO (IDB R=46.00 S=45.00), AXP (IDB R= 48.00 S= 47.40), UNH>49.00, GG>54.00, AET>42.00, ALTR>38.00, X (IDB R=27.30 S=26.30), ABT>54.75,

Shorts: COP (72.00), SNDK (50.00), NVDA (16.00), ESRX, KLAC

Notes:

Look at M pinbar at resistance with below average volume.

Tuesdays Gameplan

Longs: PM

Breakouts: NVDA>15.15, ALTR>35.75 (HBO), SBUX>42.50, KSS<51.50, QQQ>54.75 (HBO)

Shorts: JCP

Notes:

Very few setups, I wont force a trade in this environment.

UUP, TLT and SPY were all up.

CB Consumor confidence

Mondays Gameplan

Longs: KO (64.50), VIA.B, DD, DOW, ABT, X(22.00 & 66.6 Retracement level), NEM (63.50), AGCO (40.75), JCP (29.50), EBAY (28.00), POT, NVDA (13.85 Confluence)

Breakouts:PM<71.00, DIS<33.30, KSS<51.75, WDC<25.00

Shorts: INTC, BBY

Notes:

WMT range (57.40 - 56.40)

Saturation longs galore

New home sales report (XHB)

SPY - DIA - QQQ - IWM all in no mans land

Fridays Gameplan

Longs: AGCO, TRV (52.50 Red Dog), KSS (51.85), UAL(15.50 breakdown on below average volume), BA (62.00, support & 50% retracement), CHK (22.50),

Breakouts: NTAP (IDB R=35.00 R=34.25), EBAY<28.50, EBAY<33.30, DIS<33.30, NEM<64.00, COF<39.50, jpm<28.00,

Shorts: COP, VLO, XOM, JCP

Notes:

Market direction is down.

XLE-OIH-XOP-XLB Weakest RTH-XLV-XLP-XLI Less Weak

Wednesdays Gameplan

Longs: TRV (53.50), JCP (30.30), BA (64.00)

Breakouts: NVDA>15.00, WMT (IDB R=57.40 S=56.40), AXP (IDB R=46.25 S=45.50), DD (IDB R=46.00 S=45.00), MS>13.85, HON<50.50, BBY (IDB R=46.50 S=46.00), COP (IDB R=69.00 S=68.00), XOM<75.50, X (IDB R=25.00 S=23.50).

Shorts: SLW (32.50), COST (82.00)

Notes:

TRV - Ascending volume while narrowing range
JCP - Its a saturation long and not a breakout setup because the past few days had been declining on below average volume while approaching support. This makes the likelyhood of a successful breakdown minimal.
SPY - Its failure to breach 120.00 and cover the gap is bearish, and the longer we stay down higher, the higher the probability that we are heading south.

Tuesdays Gameplan

Longs: M, MCD,JCP, QCOM, SNDK (46.50), INTC (23.25), ESRX (42.00), RIMM

Breakouts:ABT<52.60, INTC<23.25

Notes:

Yesterday was a trigger long day in many of the stocks in my list.

XLF continous to be the weakest sector.

We do have the FOMC minutes tonight at 11.00 (GMT+4), which could result in a choppy market environment as investors wait for the event to take place.

Mondays Gameplan

Longs:UAL, AKAM, PCAR, JNPR, GG, DOW, NVDA, CIEN, CHK, BBY, RIMM, HAL

Breakouts: C (IDB R=26.75 S=25.75), COF (IDB R=42.00 S=41.00), DD (IDB R=46.75 S=46.00), TJX (IDB R=60.00 S=59.00), MS (IDB R=14.50 S=14.00), MCD (IDB R=93.00 S=92.00), ESRX<43.50, X<25.50, TSO (IDB R=24.25 S=23.25), SNDK<48.30 Notes: QQQ has taken out support but on below average volume. DIA>SPY>IWM>QQQ - DIA strongest & QQQ weakest.

Saturation longs galore, I have them in excess.

VIX@32.00

SPY (IDB R=122.75 S=121.50), DIA (121.00), QQQ already below key 56.00 level.

Fridays Gameplan

Longs: SLW,ESRX (42.00),DOW (26.00),AKAM,NEM,SBUX,DD(45.00),PCAR (39.00), UAL,COF,MCD

Breakouts: KLAC<45.00,SNDK<48.50,PM>72.50

Shorts: HAL,SWN,TRV

Notes:

Saturation longs

VIX at 34.00

3 Month Libor continues to make new highs

Oil < $100 per barrel

Todays a Friday, with investors probably wanting to cover their positions after two down days which makes me believe that today will probably be an up day.

Thursdays Gameplan

Longs: WMT, NTAP, ESRX, AXP, COF, C, VLO, TSO

Breakouts: PM<71.00, TRV<56.25, UNH<44.80

Shorts: EBAY, SWN

Swing shorts: HAL, PM, SNDK, EBAY, AET, VLO (All of these shorts should only be taken if they trade convincingly below yesterdays low).

Wednesdays Gameplan

Longs: INTC, KLAC,

Breakouts: JDSU (IDB R= 12.10 S=11.70), HAL>39.50, CPX (IDB R=35.00 S=34.00), AGCO>47.00, TJX>61.50, EBAY <30.75, MS<15.50, KSS>56.50, AET>42.00, ESRX< 46.25, JNPR>25.50,

Shorts: COST (84.50), COF

Notes:

COF, EBAY, AET

EUR/USD being pummeled.

QQQ, SMH and tech was the strongest yesterday led by INTC and Buffets positions in tech.

Mondays Gameplan

Longs: DOW, KLAC, TJX (Earnings)

Breakouts: AET>42.00, ALTR (IDB), AXP<49.00, BA>67.50, C(IDB), COST (IDB), JCP 34.00, JDSU (IDB), JNPR>25.50, KSS>56.50, SNDK>53.00

Shorts: CIEN (14.00), SBUX, SLW, UNH

Notes:

RTH and the retail sectors looks set to explode ahead of tomorrows economic number.

SPY looks set to explode from its wedge on the daily timeframe.

XLF looks to be amongst the weakest sectors.

TJX earnings.

I am mostly bullish in this environment but remain very cautious of any headline news from europe that may cause volatility making my trades more risky.

IWM>DIA>SPY>QQQ

Thursdays Gameplan

Longs: MCD (92.00), GG (51.00), NEM(68.00), ALTR (36.00),

Breakouts: ABT<52.70, SWN<40.00, AXP<49.00, SNDK<48.50, PCAR<41.50, EBAY<30.70,

Notes:

3 Month Libor at new high

VIX@36.00

Higher opening likely today in the SPY given how price has been acting premarket. A higher opening would be ideal for my breakdowns. The VIX remains at elevated levels making this market ver volatile. Gold has taken a hit premarket making saturation longs ideal.

Wednesdays Gameplan

Longs: HON, QCOM

Breakouts: JDSU>12.75, JNOR>25.50, BBY>27.50, EBAY>33.00, PCAR>44.20, KLAC>48.00,JCP>34.00, TRV>59.50, X (HBO R=28.50 S=27.00), TJX>61.25, SBUX>44.75, ALTR>39.00, RIMM (IDB R=19.00 S=18.50)

Shorts:ESRX (49.00), DD

Notes:

We might be starting a new bull market here, playing saturation shorts in this phase will probably blow on my face.

EBAY very fascinating pattern indeed.

Tuesdays Gameplan

Longs:M, ESRX

Breakouts: x (IDB R=28.50 S=26.50), AKAM (IDB R=30.00 S=29.00), HON>54.00, SBUX (IDB R=44.75 S=43.75), AXP>52.50 (HBO), AGCO>46.50,DD>49.00,QCOM>57.00, TRV>58.65, SNDK >53.50

Shorts: VLO, SLW, NEM

Notes:

Premarket SPY higher, if it holds during the opening range, I would expect today to be a broadbased trend day up. If it come back into the previous range, anything possible.

XLB,XLI,XLK Strongest this weak
XLU,XLV,XLF

Fridays Gameplan

Longs: TJX,

Breakouts: NTAP>42.00, COF>47.00, KLAC>48.00, PCAR>42.25, KO>69.00 (HBO), PEP>63.50, SBUX<40.70, UNH<46.00

Shorts: AKAM, EBAY, JCP(44.00), HON, ADBE, AXP, KSS, PM, NEM

Notes:

NFP Friday

Wednesdays Gameplan

Longs: UNH (SAT@46.00), DIS (SAT@33.00), AXP (SAT@49.00),

Breakouts: NVDA>14.30 (GAP FILL), EBAY<30.70, SBUX<41.00,

Notes:

Not many notable setups out there, I will be focusing mainly on saturation plays today.

Fridays Gameplan

Longs: NTAP

Breakouts: X>25.00, WFC >27.50, JNPR>25.50, PM>72.50, GG>48.75, ED>59.90, COST>86.00.

Shorts: MS (14.00), JPM (37.00), DD(49.00), COF (47.00), HON (54.00), KLAC (48.00), SBUX,

Notes:

Any saturation plays should be looked at as counter trend pull backs in this environment. Market looks exhausted at this point, buying now is buying late.

XLB-XLF-XLI Strongest
XLV-XLU-XLK Weakest...(Defensive sectors down after the environment changed to risk on)

EUR/USD Inside yesterdays massive range after the the summit where the EU agreed on how to save themselves.

Mondays Gameplan

Longs: MCD, ORCL

Breakouts: PM>70.50, DD>45.50, CHK>28.00, VLO>24.00, (IDB R=85.30 S=84.30), M>30.50, JPM>34.00,

Shorts: ADBE (27.50), TJX (60.00), ALTR (37.00)

Notes:

DIA (Strongest), SPX (nd Strongest due to financials), QQQ (2nd after the strong tech sector)

Thursdays Gameplan

Longs: COST

Breakouts: TJX>58.50, MCD>91.00, JCP (IDB R=31.80 S=31.00), WAG (IDB R=34.00, 33.00),
KSS (IDB R=52.70 S=51.90), CPX>31.50, SWN (IDB R=40.25 S=39.40), RIMM<22.20,

Notes:

SPY possible three drives pattern on the hourly 119.00 is the breakdown level. A break and hold above 123.50 would invalidate the idea.

Mondays Gameplan

Longs: SBUX

Breakouts: CPX>31.50, JNPR>22.00, VLO>24.00, GG>48.50, SLW (IDB R= 32.20 S=31.50), EBAY>34.00, NVDA>16.00, WLP>68.00, UTX (IDB R=75.00 S=74.00), JCP<29.50, JNJ>64.75, KSS (IDB R=50.50 S= 49.00).

Shorts: CIEN (12.50), SWN (39.00),

Fridays Gameplan

Breakouts: NVDA>16.00, SNDK>46.50, CPX>29.50, IAG>20.50, ARUN>24.00, TWC>70.00, KLAC (IDB R=44.00 S=43.50), M IDB (R=28.80 S= 28.00), PCAR>39.00, ADBE>26.25, NTAP (IDB R=39.25 S=38.50), DIS (IDB R=33.75 S=33.25),

Notes:

No obvious shorts and longs today, most of my plays are either IDB's or breakots. I will let the market tell me where it wants to go today as it has been choppy here recently and given today is a Friday, I will trade with caution.

The level to watch in the SPY is the 122.00 to the upside and 119.00 to the downside.

XLK-XLY-XOP Strong

XLF-XLB Weak

EUR/USD 3 day high at 1.3830, if taken out next resistance at 1.3950.

Premarket markets are poised for a higher opening.

Thursdays Gameplan

Longs: CPX

Breakouts: DIS>34.00, PCAR>39.00, arun>24.00, NTAP (IDB R=39.00 S=38.25), AKAM (IDB R=23.75 S=23.00), SO (IDB R=43.00 S=42.50), WLP>68.00, RIMM>24.50

Shorts: C (30.00), SLW (33.00), AET (38.00), SBUX>42.00

Wednesdays Gameplan

Longs: XOM

Breakouts: C>28.25, BBY>26.00, HAL>35.75, SLW>31.75, SBUX>42.00, M>28.00, HON>48.00, ADBE>26.00, SO>43.00, COH (IDB R=59.80 S= 58.60), ARUN>24.00, KLAC>43.00

Shorts: AXP (46.00), DOW (27.00)

Notes:

XLK, XRT, XOP, XLE, OIH - Strongest sectors

XLF - Weakest

XLP, XLV, GLD - Weakens as risk appetite grows

TLT on the verge of a breakdown below 116.00 signaling that bonds are about to sell off, while the DX dollar index is also about to re-enter its previous range in support of more risk apetite.

SPY about to break its upper trendline from the 31st of August after touching it 9 times.

Given the facts above, the market seems to be at an inflection point.

Best idea: BBY

Sundays Gameplan

Breakouts: DPS >39.00, HON >46.00, NTAP >38.75, COST (IDB R= 69.70 S= 68.70), TWC >68.30, SNDK >44.00, JPM <30.70, C<24.50

Shorts: KLAC (42.00), JCP (29.00)

Notes:

Strong sectors still leading during up days and defensive sectors lead during down days with the financials still weak.

The levels I will be watching in the SPY are 115.00 and 117.00 as support and resistance. Should the market penetrate and of those two levels then I expect to see continuation.

Fridays Gameplan

Longs: HAL, SLW (31.20 being the flag level and being the PBZ)

Breakouts: CIEN (HBO 12.00), NVDA >14.25, TWC >68.40, AKAM >23.00, SNDK >44.00, COST <68.50 Shorts: COH (57.00 - 200 SMA - with 58.00 being the PSZ), MS (Weak sector - 3 day saturation 15.50 being the level to watch - 3 up days on declining volume and range with volume being above average - this could go sideways), WFC (3 day saturation - PSZ - 25.50), JCP (Saturation in a bear flag after two pin bars at the top of the price range)

Notes:

NFP

Should the SPY open higher, I will be looking for at my saturations and breakout trades. Should the SPY open lower, I will be looking at yesterdays high and potential breakout trades, if it heads lower after opening lower I will be looking at break down trades and shorts.

Thursday Gameplan

Longs:

Breakouts: AKAM>23.00, XOM>74.50, COH>53.50, AXP (IDB R=43.50 S= 42.60), JCP>28.00,

Shorts: UAL 19.00, SWN 36.00, PCAR 35.75, DD, HAL

Notes:

Saturation shorts are my play for the day, we are in a bear market and we have a two day rise in equities with the second day being below average. My second play are breakouts in those stocks that are approaching key levels where if taken out could see clean price action.

Wednesdays Gameplan

Breakouts: DPS<36.50, XOM>75.00, CIEN>10.75, KSS>50.00, EBAY>29.50, UNH>43.00, JCP>28.50

Notes:

No edge here, we will probably get a short covering rally that won't be sustainable for long.

Tuesdays Gameplan

Longs: IAG 18.50, SBUX 36.00 & 200SMA, KLAC 37.00, ABT 50.00 & 200SMA, NTAP 33.50

Breakouts: UNH <41.00, JPM<28.50, EBAY<27.00, TRV<26.50, WFC<22.65, KSS<47.50, COH<50.60, WAG (IDB R=33.10 S=32.50), SLW <29.00

Shorts: CIEN, C, AET

Notes:

Market could be getting oversold at this stage, however, it is important to note that we are in a bearish market and any longs taken should be taken with extreme caution. Longs should only be considered on sectors that are demonstrating relative strength and on stocks that form a bottoming out pattern.

Strongest sectors: XLU - XLK - XLV
Weakest sectors: XLB- XLF - XLI

I expect to see noise at the open again today, as bears and bulls fight it out. Clean moves have tended to occur after the hour and a half of trading.

Premarket everything is down, except for the EUR which is slightly holding above yesterdays low at 1.3150. AUD being hit hard, and gold holding up the 1650 level.

HKHS down 4.38%

VIX about to take out previous highs at 48.00

Longs: ALTR (33.00), SNDK (40.00), UNH (45.50), SLW (30.00), COST (82.00), COF (40.00), AXP (45.50)

Breakouts: VLO<18.00, MCD>91.00, PEP>63.50, XOM>75.00, DPS>38.50,

Notes:

Just got back from my fathers funeral, I am not in the zone yet. Will trade tier 1 at most, and will avoid the market if I dont find a read.

SPY in the middle of no where doing nothing and will probably open lower making my saturation longs my prefered play for the day.

Eur and AUD under selling pressure with the AUD/USD at a key support level at .9700 where if broken could find accelerated selling.

Strongest sector this week was the financials despite negative news on MS. The weakest was the services and Technology sector.

Mondays Gameplan

Longs: DD (40.00),

Shorts:SWN<34.00, PM, COH (57.00, 200 SMA & 50 SMA), Breakouts: XRT>47.00, EEM>36.00, QQQ>54.50, GG<45.00, KO>68.00, VLO (IDB R=19.00 S=18.30), JDSU (IDB R=11.75 S=11.20), UTX (IDB R=69.75 S=69.30), TWC>66.50, CIEN>11.50, ALTR>35.75,

Notes:

If SPY and the QQQ break above their 2 day highs, I expect them to fill the gap or at least at a minimum 50% of the gap.

Gold got slamed as expected after the breakdown - 1550 is the next level to watch out for to the down side.

COH saturation play is pretty clean.

Many of the breakouts should be treated with extreme caution, as the gap might not fill completely. Lowering tier size and booking momentum will be my prefered tactic for this environment.

The market open again will play a huge role in determining price action and wheere prices would probably go.

Fridays Gameplan

Longs: DOW (22.50), UTX, HON (42.00), ALTR, WFC, GG (47.00), WLP (63.00),

Breakouts: AET<37.50, ABT>51.00 (HBO gapfill), DPS>38.50, SWN<34.00, CHK (27.00), COST>83.50

Notes:

Any longs should be with a confirmed bottom

Trade less size and book into momentum will be my tactic for the day

It is Friday, a higher open in the SPY will probably signal a gap fill day

DOW at yearly support

UTX is at serious suppot, weekly 200 SMA and weekly support.

Thursdays Gameplan

Longs:JDSU, UNH (48.00), SBUX, SNDK (42.50)

Breakouts: DOW<25.50, C<25.50, DD<43.50, MCD<87.50,

Shorts: HAL, JPM, MS

Notes:

OIH, XLE, XOP was pummeled yesterday - XLK, QQQ, SMH were the ones that held up the best and demonstrated clear relative strength

XLF and XLB were also very weak yesterday

I should have wait till after the FOMC statement to trade aggressively yesterday

Unemployment claims today

TLT had a massive up day yesterday after the fed confirmed that they would be buying bonds instead of shorter term debt instruments

In order to catch these falling knives and play them long, I HAVE to see it bottom

Longs: VLO (21.00)

Breakouts:EEM<39.00, XLP>41.00, TWC>66.50, UNH<39.50 (HBO), wag>37.50, pep<60.00, HAL<37.50, EBAY<37.40, UAL (IDB R=21.00 S=20.50)

Shorts: NVDA

Tuesdays Gameplan

Longs: CIEN (12.50), HAL (38.00),

Breakouts: EEM<39.00, XRT>50.50, HON>48.00, WAG>37.50, TJX>57.50, QCOM>54.00, TWC>66.00, XOM>74.75, PCAR>39.00, UNH (IDB R=50.00 S=49.50)

Notes:

Not many setups in my gameplan today due to the fact that the market is very choppy and indecisive.

Mondays Gameplan

Longs: JDSU (13.00)

Breakouts: EBAY>35.00, TJX>57.50, TRV> 51.00, KSS>48.50, XOM>74.75, SBUX>39.50, COH (IDB R=60.00 S= 58.70), SNDK (IDB R=43.50 S= 42.30), PCAR>39.00, WAG>37.50, BBY>26.00, TWC>66.00

Shorts: TJX (57.50), DOW (28.50), AXP (50.50), COST (85.00), SWN (39.50 Megaphone), WLP (68.00), NEM (66.50)

Notes:

My favorite plays: COH, NEM, SNDK, SBUX

Fridays Gameplan

Breakouts: BYY (26.00), PCAR>39.00, XOM>74.50, SBUX>39.50, JDSU>13.75, XRT>50.25, XOP>54.00

Shorts: BBY (26.00), ALTR (38.50 & 50 SMA), WAG (37.50)

Notes:

QQQ at 200 SMA and is the strongest out of the SPY and DIA.

Yesterdays up move was on ascending volume suggesting that the upmove could continue before any reversal takes place.

Todays is options expiry and the 30th will be quaterly expiry. Choppy market expect today.

Thursdays Gameplan

Longs: GG (51.00)

Breakouts: JDSU>13.85, EBAY>31.00, ALTR>37.50, JNPR>22.00, AET>41.00, SLW (IDB S=38.25 R=39.25)

Shorts: UAL (20.50), QCOM (53.50), COH (58.00)

Wednesdays Game Plan

Longs: UAL, GG (51.50 50 DMA)

Breakouts: UNH>48.50, COH>57.00 (200 DMA), QCOM>53.00, JNJ<62.50, MCD>86.50, VLO (IDB S=21.80, R=22.50)

Shorts: CIEN (14.00 & 50 DMA), AET (51.00), WLP (66.50 & 50 DMA), KLAC (38.25 & 50 DMA), SNDK (41.00), ALTR (37.50), COST (81.00 & H&S Pattern hourly)

Notes:

Saturation short seem to be the play today, after the market rallied for the past two days, yesterday we rallied on less volume when compared to yesterday which tells me that this move is running out of fuel. A higher open would be nice today as it would make it perfect to sell these stocks short, a lower open however, followed by a rally could be more tricky making it possible for the market to go in either direction. Yesterdays high in the case of a lower open should prove to be the pivotal point.

Key economic indicators at 4:30 could push the market higher or lower premarket.

Tuesday Gameplan

Breakouts: ALTR > 36.10, KLAC>36.50, COH > 55.50 (Wedge), MCD> (86.50, HBO & Gap fill), DD<44.00, EBAY>29.50

Notes:

Tech strongest sectro the QQQ leading
Difficult to find orderflow longs or shorts in this choppy environment, HBO is my prefered tactic for this market
ALTR
Today is setting up to be a choppy day, I will continue to book into momentum in these conditions.

Longs: COG (69.50), C (26.50), VAR (51.50), JDSU (12.00), MS (15.00), PEP (double bottom first), JNJ (63.25),

Breakouts: HAL< (39.30), AXP< (47.00), SWN< (35.50), PM< (64.50 & 200SMA), DOW< (25.50 5 touches on support), MS < (15.25), ETN (38.00), SNDK<38.75

Notes:

I have no clue as to what will work out from my longs and breakdowns, what is clear is that we are in a downtrend, so breakdowns are more likely, burst of momentum to the upside are also possible but in order for me to get long, I want to see a bottoming pattern before I attempt to catch a falling knife.

If JDSU can hold the $12.00 level then it would be interesting to trade it long.

SPY in an ascending channel despite negative events taking place, price closed at the support trend line after it bounced right off of it. Given these market conditions, I expect to see a gap on Monday in either direction, should the SPY open below the trend line then I expect 114.50 to be tested and should it open above Fridays close then I expect 115.50 to be tested. At this point, the market could accelerate in either direction on Monday, making it critical to prepare for the open adequately.

The Dow Jones Industrials DJIA is also at a critical level, 11000 were breached again on Friday. However, it had also been breached twice in the past month which was then resulted in strong buying. Buying could take place on Monday, but I consider that unlikely with the index looking like a steep head and shoulders pattern, the level to watch here is 10950.

QQQ the NASDAQ ETF is consolidating forming a wedge, a breakout in either direction is imminent, 52.75 is the level to watch for a breakdown and 54.75 is the level to watch for a breakout. The QQQ is the strongest out of the three indexes (S&P , DOW, NASDAQ).

As for individual sectors, the XLB will catch my attention on Monday with Dow Chemicals (DOW) being the main stock I'd be watching in that sector. 5 support touches in the stock market usually doesn't hold. This and the fact that the XLB broke down from its wedge and is pausing right above the key 33.00 level, which if broken down, should bring down the entire sector with it.

Thursdays Gameplan

Longs: JDSU (50 DMA confluence with flag resistance trendline confluence)

Breakouts: SNDK>38.00,AXP>50.00, SBUX>39.50, XOM>74.50

Shorts: MS (16.50), C (29.00), HON (48.00), UNH (48.00), COST (81.00 Fade), DD (48.00), WLP (64.50) & Deathcross, ABT (52.50)

Notes:

The market seems to be drying up on its up move, with the QQQ's and DIA rising at a slower pace than the SPY on declining below average volume. The SPY also climbed on below average volume and out performed the duo due to the strong day in the financial and energy sector yesterday, both being on average volume. XLV the healthcare ETF has some serious resistance (50 & 200) DMA and advanced on below average volume should merit some attention today, however, should this market sink, XLV is not the best sector to short due to its defensive nature.

The open will be crucial today, the market will do one of several things, it will either open higher and come in, or open inside yesterday and attempt to take out the highs and fail, if it succeeds I dont expect the move to continue and if it does continue in the same manner as the previous 2 days then to me the market is a sreaming short tomorrow. Other scenarios can occuer making premarket assessment crticial.

Wednesdays Gameplan

Longs: AMGN

Breakouts: GG> 56.00, KO>70.00, PM>68.00 (HBO), DOW < 25.50, BBY<23.00, JPM>33.50 (HBO & Gap fill)

Notes:

Very few setups today as the market is becoming impossible to predict under the gappy conditions, I might stand aside today while this market does what it wants to do. A retracement seems most likely to continue, however, anything is possible.

SPY failed to take out lower trendlien support with the QQQ being the strongest followed by the SPY and DIA.

Tuesdays Gameplan

Longs: PM (68.00), HON (45.50 & Double Bottom), KLAC (34.00 & Support), AKAM (20.00), PCAR (35.00),

Breakouts: TJX <52.00, JNJ<64.00 (Trendline break), VLO < 21.50 (Trendline and Support break)

Shorts: GG (55.50)

Notes:

Very choppy market at these levels making it almost impossible to predict the next direction in the market, but if I had to make a guess I would say south cause of the direction of the trend and the breakout in the TLT. (GLD) Gold very dangerous at these levels with R/R favoring the short side, volume has contracted and a gap up is expected which should be filled to the downside. SPY and DIA look like one big bearish flag thats about to crumble.

COG

Tuesday's Gameplan

Longs: KSS (Wedge > 47.75)

Breakouts: JDSU>12.35 (HBO), ETN> 43.00, EBAY>31.00, ALTR>37.50, XOM>74.50, KO>69.75

Shorts: AKAM (22.00 & 20SMA), CHK (32.00), QCOM (51.50), KLAC (37.00), UAL (19.00), EBAY (31.00), DPS (38.00), HON (47.50),

Notes:

KO

The market yesterday went up on below average volume to do the weather concerns in the USA, today we have imporant news releases coming out as well with the FOMC meeting being the most important. At this stage, the market is at crossroads and could head in either direction, the market is also poised to open lower today which would nullify my saturation shorts. Should the market open lower, yesterdays high will be me key reference point for my shorts, an initial failure to take out the highs after a push higher from the open would deem my saturation shorts valid. However, should the market head higher and take out yesterdays highs, that would probably trigger my breakouts trades. Should these breakout trades fail, my shorts would come back into play again through the red dog reversal.

EUR/USD down.

International markets are mixed.

Mondays Game Plan

Breakouts: COH>55.00, EBAY>29.50, CHK>33.65, DPS>36.50, AET>38.50, DOW>27.00, UNH>46.25, KO>69.50,

Shorts: IAG (20.75), GG (52.00)

Notes:

SPY wedge pattern that could break to the upside today unless we get a significant gap down.

QQQ gap fill from August 17th.

IAG and GG should open higher.

Overall I have a feeling we will get a choppy day today in both directions prompting me to book profits on momentum.

Thursdays Game Plan

Longs: GG (SAT@ 48.00)

Breakouts: UNH >46.00, AET>38.50, COST>77.50, KO>69.80, TRV<48.50, XOM>74.50

Shorts: CC (SAT@28.50), ETN (SAT@41.20), AXP (SAT@48.30), BBY (SAT@25.00), CHK (SAT@30.20), SBUX, DD (SAT@46.25),

Notes:

KO
TRV Could breakdown due to weather news.
EUR/USD key level at 1.4500 - 1.4350, 3 inside days.
Jackson Hole Symposium
AAPL Steve Jobs Resignation

Wednesdays Game Plan

Longs: GG

Breakouts: ALTR>37.65, AET>38.50, ZOM>74.75, AXP>46.50, KO>69.75, COST>77.50, MCD>89.50, BBY>23.50, DPS>36.50 (HBO), TRV<48.50, WAG<34.00

Shorts: JNJ, COH, ALTR, WFC, JPM

Notes:

MCD about to make new 52 week highs.

SPY key level to watch is 116.50

GLD the gold ETF got hit on ultra high volume to the downside.

EUR/USD still choppy, possibly forming a cup and handle pattern with 1.4500 being the key level.

Friday's Game Plan

Breakouts: COH> 55.00 (ATR= 3.80), TRV> 52.00 (HBO), UAL<16.00, GG> 51.00 (HBO after gap fill)

Shorts: HON (SAT@ 47.00 ATR=2.35), ETN (SAT@42.00 ATR=2.53), DPS (SAT@38.00 & 200 SMA ATR=1.35), PM <65.00 (ATR=2.12), KLAC

Notes:

No long setups today as the environment is dangerous and any attempt to catch a falling knife could cause severe damage.

Industry sector strength indicates that the most defensive sectors were up yesterday confirming the bias of risk aversion. The industrials were the strongest along with consumer staples and healthcare.

Financials were weak which is a concern, the XLF also broke down and failed to breach resistance (previous support) yesterday.

VIX @ 36.00, hence the volatility. Almost double the normal move. I remain cautious trading smaller size and keeping an aye on my ATR to properly place stops and give my trades enough room. The last thing I want in this environment is to get shot on good ideas due to lack of room in placing stops.

Mondays Game Plan

Longs: C (SAT@31.00), NVDA (SAT@12.65), EBAY (SAT@28.50), COF (SAT@41.00),

Breakouts: EBAY<28.00, UAL<16.50, SNDK>40.00 (HBO), AXP<46.50, GG>46.85 (HBO),

Shorts: SWN, WFC<25.00,

Notes:

Market highly volatile, risk should be adjust according to the VIX and the stocks daily ATR.

VIX @ 32.00

XLP strongest sector, indicates defensivness from investors. The XLP also failed to breach its 200 DMA.

Oil te weakest sector in my list.

Friday's Game Plan

Longs: MCD (SAT@84.00 and 50 SMA also relatively very strong), JNJ (SAT@61.50 and Gap cover), AET (SAT@37.00 & 200 SMA), AXP (SAT@47.00 The level should hold first), QCOM (SAT@50.50 - 50.00), COH (SAT@ 57.80 & 200 SMA and also right below support).

Breakouts:TRV<53.00, WFC<25.25, GG<45.60, UAL<16.50, SNDK<38.75, KFT<33.75 Shorts: JPM, ALTR, XOM, KLAC, MS, C, NVDA, DOW< 30.25 Notes: Markets sold off very hard yesterday amid liquidity concerns, the markets are also oversold, but under these conditions, liquidity trumps all.Waiting for NFP today, which could is the catalyst today, under these conditions anything can happen. Things can easily overshoot. This market could do one of two things today, the first being a rally early in the morning and then a sell off after paniced investors sell their holding into the rally. Or, we get a sell off right off the gates, as panicked investors continue selling after a bad NFP number. OIH was the weakest sector yesterday along with commodities such as silver and gas. In other words, everything got teared yesterday, nothing was relatively strong. Yesterdays high and low are my reference points in this environment. MCD my best play of the day, strongest stock in my list after yesterdays sell off, thus making it relatively very strong. COH is my Joker play today, as it has the potential to fool people the most. VIX> 30.00, Caution is advised.

Wednesdays Game Plan

Longs: KLAC (SAT@38.00), HAL (SAT@52.00), SBUX (SAT@38.00), TJX (SAT@53.00 & 50SMA), MCD (SAT@85.00), JNJ (SAT@63.25 & 200 SMA), PM (SAT@69.25, 20DMA and Support), KO (SAT@67.00 & 50 DMA)

Breakouts: EBAY<31.70 (HBO Gap Cover), C<37.00, GG>49.75 (HBO & Gold strong), VLO <23.00

Shorts: WAG (Gap Cover), DOW, ETN, COF, ALTR

Notes:

The SPY has a last line of defence at 129.50, should this level be breached, I expect selling to continue. The last 3 down days have been on ascending selling, meaning that sellers are stepping up their selling.This being said, the market does look oversold at these levels, and a bounce might be in play today.

I will be looking for saturation longs in this environment given the oversold market. I will also not give them much room should selling re-ignite. My bias for this market is bearish at the moment, so any longs would be taken with extreme caution. Holding on to short positions is also a challange as markets get volatile and re-entries could be necessary stocks arent given enough room.

VIX @ 24.50

EUR/USD rallied overnight.

Should the market open inside yesterday, I will pay attention to the breakout levels and yesterdays low. Should yesterdays low be taken out on high volume then that would be a sell signal.

C<37.00, TJX, JNJ & GG

Tuesday's Game Plan

Longs: QCOM (SAT@53.25 & 200 DMA), SWN (SAT & 50 DMA), NEM (SAT@54.80), XOM (SAT@78.80), GG (SAT@200)

Breakouts: WAG<38.50, JPM<39.00, HON<52.00 (HBO), COST<77.00, COF<47.00 (HBO), ALTR<40.00

Shorts: NVDA (SAT@14.50)

Notes:

SPY is barely holding the 200 DMA which is one of the last lines of defence for the bulls. Should the level crack, I expect the bears to step up and send the market lower.

Not many setups after yesterdays open higher and sell off. Most of my charts are messed up. However, I am mostly bearish, I will wait for my break downs to form before tipping my hand in this market.

At the time of this writing gold made a new recort high of $ 1634.68.

Mondays Game Plan

Longs: DD (SAT), DIS (SAT@38.50), GG (SAT@ 47.30 & 200 SMA)

Breakouts: ALTR<40 (HBO), ALTR>41.00, TJX<54.70 (HBO), COST<77.50, WAG<38.75, AET<40.50

Notes:

WAG < 38.75 would start filling the gap

DD narrow ranged down candle on very high volume could signal that the bears are having trouble sending prices down.

Fridays Game Plan

Longs:TJX, MCD (SAT@86.50), MS (SAT@21.85), DPS (SAT@38.00 & 200 SMA), VLO (SAT@24.80 & 200SMA & 50% retracement), JDSU (SAT@ 13.00), UAL (SAT@17.00)

Breakouts: QCOM<54.50 (HBO), KO<68.50 (HBO), AXP<50.50, UNH<50.00, COF<47.50, JNJ<64.75

Shorts: BBY

Notes:

TJX 54.15 is a possible saturation gap fill. MS possible gap fill and saturation at 21.85.

Breakdowns is what I am looking at today.

All saturation plays should be confirmed by the tape today given the choppy market environment also the fact that todays friday and no one knows what will happen over the weekend should be taken into consideration in these times of uncertainty.

Out of the indexes, NASDAQ strongest followed by the S&P 500 and the DOW.

Thursdays Game Plan

Longs: JNJ (SAT@65.00), WAG (SAT@ 38.75), AXP (SAT@50.50), COF (SAT@50.75 200SMA), GG(SAT@47.50)

Breakouts: TRV<56.10, AXP<50.50, COST<77.50,

Wednesdays Game Plan

Longs:DPS (SAT @ 39.50), UNH (SAT@ 51.00), HON (SAT@55.25 & 200SMA)

Breakouts:EBAY>35.00, ALTR (IDB R= 42.28 S= 41.60), TRV<56.50, MCD (R= 88.45, S= 87.85), DPS<39.50

Shorts: EBAY (SAT)

Notes:

Still very choppy, will trade with care till the debt issue resolves itself by booking on momentum.

Tuesdays Gameplan

Longs: COF (SAT), DPS (SAT 39.50), UAL (SAT)

Breakouts: RTN<46.25 (HBO), WAG (IDB R= 40.20 S= 39.70), C> 40.50 HBO, CIEN (IDB R=17.50 S=17.20), GG>55.25 (HBO), DPS<39.50

Shorts: SMDK

Notes:

C formed a cup and handle pattern on the hourly which qualifies as an HBO

Markets highly uncertain due to the US debt talk. Being extra cautious in this environment is best, booking on momentum.

Thursdays Game Plan

Breakouts: JPM>41.75, GG>55.25, MCD>86.50 (HBO), KLAC>43.00 (HBO), BBY (IDB), DIS>39.85 (HBO), KO (IDB)

Shorts: MS (SAT after earnings came up better then expected)

Notes:

Very few setups today due to the choppy action in the SPY and the fact that we are in the end of July and people are on holidays.

I will be watching the 133.25 key level in the SPY today as any break and hold above could signal continuation.

Choppy action in the EURO as news related events are moving it all over the place. MS reported better than expected earnings, I am looking at that short today after the gap up.

Observation

SPY in no mans land here with bias to the downside, after all the pushes up in the past several days was met with selling on above average volume. I will be watching 131.50 closely today as any break below this level could result in a down day.

The financials continue to take a beating in this market, and until the sector regains some footing in this market, I expect the decline to continue. Tech is also weak which isn't a good sign for the market with the SMH about to breakdown below 32.50.

Gold however, has returned to its prior strength on global concerns which could make gold stock attractive to the upside.Should the SPY open inside yesterday and above yesterday close I would look for weakness and should it take out 131.50 I would be getting more agressive selling. To the upside I wan to see 133.00 taken out before getting long.

SPY Observation

Notice the SPY chart above. The last 4 up days up days were on declining volume. Typically, I would sell into a move like this assuming that the up days were on declining volume which signifies contracting demand. However, this might not be the case here, if you observe more carefully you will notice that the rise was on extending ranges which is a revelation. The extended ranges could mean that its not that price found no demand hence the declining volume but that price found no supply as prices exploded higher and higher without faceing any counterforce to send it down.

Yesterdays inside day was also interesting. Sellers could send prices anywere as buyers maintained control, it is important to not however, that price is currently at a resistance zone and a breakdown from the inside day could find continuation to the downside.

Levels to watch are the 134.00 level, it is important to watch this level as prices has always struggled here in the past. This and the fact that the inside day's high is at the same level, which could pave the way for an explosive move. 133.50 is also key here, as a breakdown down from this level is significant. It is so because the level is the inside days low and because price is at the top of its range for the past 6 months, this range has proven to be resistance in the past and could push prices lower again. It will be interesting to see how price reacts from here.

Inside Day Breakout (IDB) Setup

Inside Day Breakout (IDB) is another setup that I use to affectively take advantage of explosive moves that occur after periods of congestion. I usually like to use these setups in the direction of the trend, but tend to trade them in both directions in choppy market environments.

Basically an IDB occurs when on days where price action occurs inside another range. This happens when buyers and sellers fight for control, both having equal strength. Once the market breaks out of the range a victor is found, this usually results in an explosive move in that direction.

IDB can occur over several days and don’t require price to consolidate in one day’s price range. In the chart above 3 days IDB's are occur and usually demonstrate more follow through and stronger moves than the 2 day IDB's. This is due to the extended battle between buyers and sellers. Think of IDB's this way, imagine a can of coke that you shake violently for a period of time, the longer you shake the stronger the burst once opened.

My entries in IDB's are a five minute candle close above yesterdays high or low with my stop back inside yesterdays range. I usually trail the setup depending on what is demonstrated on the tape, if I see an aggressive tape I give the trade more room by trailing it through the 10-20 SMA's on the 5 minute chart. However, should the tape slow down or should the market environments change, I book into momentum.

Pretty simple setup, that works brilliantly in the hands of a consistent trader. Consistency and preparation are key to the success of any trading strategy.

Wednesdays Game Plan

Breakouts: ACE>65.40 (HBO), C>40.25 (HBO), ,MET>42.00 (HBO), ORCL>32.75 (HBO), TJX>51.60 (HBO)

Shorts: RTN (SAT@49.00 & 50 SMA), SNDK (SAT@41.00), ADSK (SAT@38.00), VLO (SAT@25.00)

Notes:

SPY went up on declining volume yesterday when compared to the previous day. The SPY also is at its key level of 129.80 where if breached should continue to the upside. This market can be extremely choppy today due to Greece. I definately expect to see volatility, caution is adviced.

Tuesdays Gameplan

Longs:BRCM (SAT@31.00-31.45)

Breakouts: SBUX>38.00, QCOM>55.00 (HBO), C>40.20 (HBO), MCD>83.00

Shorts: PNC (SAT@58.00), SBUX (SAT), WAG

Notes:

SPY still choppy and ranging between 130.00-126.50. Yesterdays rally was on below average volume. 200 SMA being right beneath the 126.50 level.

Not alot obvious right here, I have 8 ideas which I forced out of my list. I will wait for tape confirmation on any of those ideas and should the market not provide me with any confirmation, I would step aside.

Mondays Game Plan

Longs: PM (SAT), XOM (SAT@76.35 & 200 SMA),

Breakouts: DD>52.00, BBY>33.00, JNJ<65.00, SWN<40.60, Shorts: PBR, JNPR, HD. Notes:

- SPY 200 SMA

- XOM 200 SMA

- Dollar Index about to breakout

-Premarket: EUR/USD rallying and SPY rallying as well which could be a good reason sell into a higher open making this market highly uncertain. I am going to continue to trade without a bias on direction while booking profits as soon as I get them. In other words, I am defensive.

USD/CHF & GBP/USD Weekly

Heres a comparison between the two pairs. The goal of the me showing these two charts is the difference between trading something in play and something dead in the water. GBP is clearly in a choppy zone while CHF is currently trending after an extended balanced area. It is important to always play the hot hand and trade whats in play, trading an instrument that demonstrates no clear edge is nothing more than a gamble.

MSM - Negative Outlook

.

A simple explanation of what I think of the MSM at the moment.

Fridays Game Plan

Breakouts: JNPR>30.50 (HBO), QCOM>55.00 (HBO), ALTR>44.50 (HBO), SBUX>38.00, BBY>33.00, INTU>51.00 (HBO), C>39.50 (HBO), ,MCD>83.00, TSO>22.50 (HBO)

Shorts: CIEN (SAT@18.50), SBUX (SAT@38.00), GM (SAT)

Notes:

I remain cautious in these markets as the trend is yet to identify itself.

Yesterday the technology sector held the market and gave it a much needed boost. as the SPY failed to breach its 200 DMA and failed to take out the lows after the gap down. I expect to see some follow through to the upside which I intend on taking advantage of through my breakout plays. Should the market on the other hand saturate and resume the down move, my saturation plays should be handy. I will be observing the tape closely today to examine whether the buying we saw yesterday will resume today.

Premarket the euro is rallying after forming a higher low which is bullish.

Looking at the SPY again, the 200 SMA forced the SPY in a higher low, which is bullish.

Buy the rumor and sell the fact, www.marketwatch.com wrote that more Greece aid likely which was the main driver of the up day yesterday. When are still in rumor mode.

HBO (Hourly Break Outs)

I received several questions regarding HBO's my new setup that I started using regularly to take advantage of volatility. HBO mainly stands for Hourly Break Out, in this technique I use the hourly charts to identify key support and resistance levels that formed over the past 3-10 days.

I trade these setups regardless of the trend on the daily chart. I get excited when an HBO forms at a round number, preferably at .00, .25, .50 and .75. I play these setups in co-ordination with time & sales, I like to see a level break and hold before entering especially when the move is counter trend.

I could also take a breakout on a pause below my HBO level. Volume also plays a huge role in identifying levels that could follow through; activity at these levels where the bids or offers get hit and breached then hold afterwards provides confirmation.

The time frame that I use for HBO’s is the hourly chart, which is used for HBO identification and the 2 minute chart that I use for HBO entries. The reason I use the 2 minute is that these moves might not last very long and the waiting for a 5 minute confirmation could provide me with a late entry where I miss the move.

As for profit taking, I use 2 techniques to take them. The first is after enter I use the 10 EMA and 20 SMA on the 2 minute chart to trail my profits till I get a candle close above or below them. The second technique is to book profits on momentum at a pre designated level with risk/reward being above 1/1.5 and as usual, my stops are automatically moved to break even when R/R is 1/1 to have a freebie where I get a free trade with no downside.

Thursdays Game Plan

Longs: BBY (SAT), PM (SAT@66.50). D (SAT)

Breakouts: MCD>83.00, A>50.00 (HBO)



Shorts: CIEN (SAT@18.00), GG (SAT@50.00), SBUX (SAT@27.50), TSO, C, TXN, SU

Notes:

The SPY saturated yesterday after the FOMC minutes. The down trend is set to continue today as I expect the lows to be tested, a decline on low volume would indicate that the selling has ended. Premarket the EUR/USD.

Wednesdays Game Plan

Breakouts: DPS>41.20 (HBO), MCD>83.00, KO>66.25 (HBO), BBY>33.00, C>39.50 (HBO), D>48.50,


Shorts: HPQ (SAT@35.50), DIS (SAT@39.00), HD (SAT@35.50), QCOM (SAT@55.00), COF (SAT@51.00 & 20DMA), M (SAT@28.50), TXN (SAT@32.00), JDSU (SAT@16.50), ABX (SAT@44.50)

Notes:

Two up days in the SPY could indicate saturation here, I am however careful as the buying has been on accelerating volume, we could see a third up day in a row before ths market saturates.

I only have saturation shorts and breakouts long today. If this market goes up for a third day in a row, my breakouts should put me in the right direction. However, should the market sink in and saturate, my game plan will help me take advantage of the situation.

Premarket the FX market didnt rally as signs of saturation from the 2 day rally seems to be present. We also have the FOMC statement after at 8:30 (GMT+4) which is after the open by 3 hours. Choppy action is also expected on such days, which could invalidate breakouts.

Tuesdays Game Plan

Longs: WAG, COH

Breakouts: MCD>83.00, SWN<40.50M JPM<40.00, KO>66.25 (HBO), PCAR>48.30 (HBO), HD>35.00 (HBO),AXP>49.40, PM>69.50 (HBO), D>48.50, UNH>51.50

Volatility: NVDA (R= 16.00, S= 15.50)

Shorts: WDC <33.50 Notes:

NVDA: Has the potential to either be a saturation long or a breakout short after the stock formed a bearish pennant on the hourly.

The market is most likely headed for a rotational choppy day. I have a ton of breakout trades today which isn't what I wanted to see as the potential for them to move cleanly is very low. I expect alot of fake breakouts as this environment waits for the FOMC report tomorrow. I will be breakouts safely in this environment, taking only those that hold above the level and demonstrate clear order flow on the tape prior to the breakout. I will also be more inclined to take breakouts that test resistance after it breaks out and holds Ray style.

I have zero saturation plays, which indicates just how much this market has been indecisive.

The rally yesterday in the markets was on below average volume which indicated short covering ahead of tomorrows reports.

Mondays Game Plan

Longs:SNDK (SAT@21.00), EMC (SAT@25.80), TEVA (SAT@47.00), NVDA (15.35)

Breakouts: WDC <33.25, AMGN <58.00, XOM <79.00, MCD >83.00

Volatility:

Shorts: UAL (SAT@24.00), PNC, WFC (SAT@27.50)

Notes:

SMH & TECH Saturation. Saturation will remain in play as long as the sector holds at support. If it breaks down I dont expect to see follw through on my tech saturation plays.

Longs: AKS (SAT), MCO (SAT@38.00 & 50 SMA), EMC (SAT@26.00), M (SAT@26.50), ORCL (SAT), TWC (SAT@73.00), MS (SAT@22.00)

Breakouts: GG<46.00, SUN<37.50, SU<37.75, MCD > 82.00, AMGN > 58.75 (HBO), WAG > 44.50 (HBO)

Volatility: TWC (R= 34.75, S= 34.40)

Shorts: BRCM

Notes:

It seems that the market capitulated yesterday and a short term bottom had formed. This was confirmed by the transition pattern on the hourly along with the shake out. The the down move yesterday in the SPX also bounced right off of the 200 DMA which was another referance point. Premarket the EURO is rallying against the dollar as a double bottom 1-2-3 pattern formed on the hourly.

TWC can go in either direction here after the inside day at support.

New concept: HBO (Hourly Break Outs)

Thursday Game Plan

Longs: MS (SAT@ 28.00), ACE (SAT@ 64.00), TRV (SAT@ 57.50) , AXP (SAT@ 47.00)

Breakouts:JDSU<16.50, STJ<47.75, PNC<58.00, SBUX<34.75, COF<47.75

Volatility:

Shorts: HIG, EBAY, SU, DOW, XOM, GG (SAT@ 48.00)

Notes:

Financial sector saturation. GG saturation also looks good, breakouts also look good. It seems like there will be something to do this session. My tactics for this environment remains the same, book em while you still have em! Goodluck with your trading!

Wednesdays Game Plan

Longs: COF (SAT@48.00)

Breakouts:JNJ>67.35, MCO>42.00, EBAY< 29.50

Shorts: UAL, DIS, KO (SAT@66.00), ADSK, WDC (SAT@35.50)

Notes:

Premarket the EUR/USD has sold off after it bounced off of the 50% retracement level. Everything else is extremely choppy, no sector demonstrating leadership. I will remain careful in this environment, taking profit on momentum.

Tuesday Gameplan

Longs: UNH (SAT@ 49.00 & 20 SMA) , JDSU (SAT@16.50 & 200SMA) , BRCM (SAT@32.00)

Breakouts:BBY<28.50, UTX<82.50, TWX<34.50, DOW<34.75, EBAY<29.50, XOM<79.00, MRO<49.00, JNJ>73.25

Volatility: SNDK (R= 42.75 S= 42.00)

Shorts: C (SAT@39.50), JPM (SAT), MS (SAT), DPS (SAT@41.00), DD

Notes:

Choppy SPY yesterday where the market did nothing, we are approaching the primary buy zone and support. I will be focusing on my saturation plays today as they can play out really well. The bounce in the financials confuses me a little bit, it was on high volume which might signal that the sector has bottomed out. The second scenario is that the bounce range wasn't strong enough which might indicate that the buying was met by selling.

In such circumstances, it is best to play it safe and go contrary to what every one is doing through the saturation plays. The energy sector is still weak and sentiment is still bearish. Pre-market the Euro is bouncing from the inside day formed yesterday. It will be interesting to see how and where the markets open today. Caution is required in these conditions, I will continue to take profits on momentum.

Mondays Game Plan

Longs: M (SAT@24.00),BRCM (SAT@32.75), AMGN (SAT@58.00)

Breakouts: SU<38.65

Volatility:

Shorts:PCAR, TXN

Notes:

Fridays Game Plan

Longs: ADSK (SAT@38.00) , ALTR (SAT@44.00), AKAM (SAT@30.00), NVDA (SAT@17.00)

Breakouts: UNH>51.00, AET>44.00, KLAC< 40.00, DOW<34.85 Shorts: GM (SAT@29.50), HD, AXP, COST (SAT) Notes:

The SPY bounced yesterday as we saw short covering, the rally was on low volume and the market sold off later in the day. Technology was the weakest sector yesterday as it didnt really bounce with the rest of the market. I have saturation plays in the sector today as I wait for a bounce to occur. Commodities and gold was the strongest yesterday.

Thursday's Game Plan

Longs: UAL (SAT@ 21.80), DIS (SAT@ 39.00), RTN (SAT@ 48.00), DPS (SAT@ 39.50 & 50 SMA), HON (SAT@56.00), HIG (SAT), TXN (SAT@ 32.25), COH (SAT@ 58.50)

Breakouts: SWN> 44.50, D>47.85

Shorts: M (SAT @28.00), SUN, HOG, ALTR

Notes:

6 straight down days in a row, will we get 7? Anything is possible. I will keep an eye on my saturation plays though and take profits on momentum.

Wednesdays Game Plan

Longs:EMC (SAT@27.00), UNH (SAT@47.50 and 50 SMA) , ACE (SAT@67 and 50SMA)

Breakouts: HpQ<35.50, SWN>44.00, EBAY<29.50, TWX <34.50

Shorts: AKAM, COF

Notes:

Very few plays in todays game plan due to the absence of conviction in any direction, the market is oversold at this level, making it difficult to go short. It is also very difficult to get long as the market is in a short term down trend. Trading agressively in this environment is a gamble.

Tuesdays Gameplan

Longs: UAL (SAT@22.00), JDSU (SAT@18.00), EBAY (SAT@29.50 & 200SMA), M (SAT@27.00), PM(SAT@68.00), ALTR (SAT@45.00)

Breakouts: JDSU, EBAY, ALTR


Shorts:TSO, VLO, GM, HOG

Mondays Game Plan

Longs: PM (SAT@ 68.00), GM (SAT@ 29.00), DD (SAT@ 50.00), SBUX (SAT@ 35.00)
ALTR (SAT@ 45.00)

Breakouts: SWN>44.00, TSO<22.50, TWX<35.00, DOWN<34.80

Shorts: JPM, TGT, ORCL, COST, WDC, COF, INTU, SNDK

Friday's Game Plan

Longs: RTN (SAT@ 48.50), COH (SAT@ 61.25), COST (SAT@ 78.50 & 50 SMA), PM (SAT), GM (SAT@ Suppot), TSO (SAT@ Support 22.50)

Breakouts: EMC, TEVA>51.00, WFC<26.50, PNC < 59.75, MRO, TSO < 22.50, Volatility: (A R= 48.60 S= 47.85) Shorts: DIS, TGT Notes:

Today is NFP Friday and I expect to see volatility in this this directionless market. At this point it will be easier to toss a coin and guess the direction then try and predict the direction of the SPY. I will try to be as cautious as possible today, if this market doesn't know where its headed for I wont be on board. I believe in high probability trading, and this isn't it. Until ket levels are cleared, I remain focused on survivng this choppy condition.

(A) looks awesome as a volatility play, if it breaks down it takes out the 50 SMA and if it breaks out it has room to go to the upside which is the day before yesterdays high.

Thursday

Longs:SWN (SAT), JCP (SAT), PNC (SAT), A (SAT), COH(SAT), TJX


Breakouts: AKS, PCAR<56.50, JCP<33.50, HOG<36.00, DOW<35.00, PNC < 60


Volatility:


Shorts: STI, ORCL, WDC, DIS


Notes:

Yesterday for the first time in a long time we saw a broadbased down move where the SPY sold on above average volume and was down 2.25% by the end of the day. This move caught investors off guard as the market had rallied for four consecutive days before selling hit the market. All sectors were down by the end of the day, especially the financials that took a hit.

JCP (SAT) @ 33.50

PNC (SAT)@ 58.50 with 20% level confluence and 200 SMA

 A (SAT) @ 48.00


COH (SAT) @ 62


TJX (SAT) 52.00

Wednesdays Game Plan

Longs: QCOM, PM, MCD (SAT), UAL

Breakouts: MRO>54.25, IAG>21.25, TEVA>51.25, JNJ>67.40, EMC

Shorts: SNDK (SAT), NVDA (SAT), TXN (SAT)

Notes:

UAL: SAT @ 23.50 and 50 SMA confluence.

SPY had a strong day yesterday after it rallied late in the day to recover the sell off in the morning. The market however is still in a range and that should be given due diligence and consideration. Yesterday the tech sector was strong, I have some breakouts in that sector along with a few saturation plays. Everything will depent on the open today and whether we open higher, lower or inside yesterday. The key level to watch in the SPY is 135.00 at the moment.

Tuesday's Game Plan

Longs: ACE, PM, MCD (SAT), ABT (SAT)

Breakouts: TEVA> 51.30, DIS<40.50, EMC>28.50, SWN>40.00, QCOM>58.00, MRO>54.50

Volatility: (EBAY R= 30.77, S= 30.50)

Shorts: NVDA (SAT), BRCM (SAT), MS (SAT), SUN (SAT) , ARUN


Notes:

MS: SAT at 24.50

Technically the SPY is hovering in the middle of no where, no bias at this point as price could easily move in either direction. I will book profits as they come by on momentum.

Longs: MRO, NSC, COH, RTN, TWC (SAT), WLP (SAT), COF (SAT), UAL (SAT)

Breakouts: SWN>44.00, qcom>58.00, XOM>82.50, HOG<36.00, SUN< 39.00

Volatility:ACE, PM

Shorts: JPM

Notes:

NSC: Higher low.

PM: Pay attention this can explode.

TWC: Saturation

Wednesdays Game Plan

Longs: RTN, STI (Sat), UTX (Sat), TRV (Sat), ALTR (Sat), COF (Sat), JNPR (Sat)

Breakouts: WDC<35.50, D>48.50, SUN<39.00, dd<41.20, JNPR< 36.50

Volatility: (ORCL R= 33.40, S= 33.90)

Shorts: STJ, ARUN

Notes:

SMH and QQQ were the weakest yesterday, I have alot of saturation plays along with breakdowns today. The market is very choppy and is trading with almost no bias. I will remain cautious in this environment.

Tuesdays Game Plan

Longs:

WAG, MCD, ABT, ACE, TRV (61.00), WLP, ORCL (33.00)

Breakouts:

RTN>50/00, AKS, VLO<25.50

Volatility:

Shorts: WFC, INTU

Notes:

Crappy market environment, with contradicting signals. This market is bearish to neutral in the short term as all my market internal charts are pointing south. However, we remain in a bulllish market and anything can happen at this level. Shorts can get squeezed really hard and really fast making this market very difficult to trade.

VLO: Shakeout was on below average volume telling me that the stock might not have the fuel to rocket higher yet. If prices retest the 25.50 level, a breakdown is possible.

ACE: Saturation play as the stock has been declineing on descending volume indicating that it might be running out of fuel. It is also approaching support at 67.50.

TRV: Falling on below average volume and is approaching a key level of support. 61.00 is the level to watch.

Mondays Game Plan

Longs: WAG, UAL, ACE, STJ

Breakouts: TJX>53.25, TWC>78.50, ABX<45.00, KO>68.50. AKS<14, VLO<26.00

Shorts: IAG, KLAC, HPQ, SUN, ARUN


Notes:

IAG: (Sat)

TJX: Bounced off of the 50 SMA and previous range. Hourly formed a double bottom and if the 53.25 level is tested that would make it a triple top.

ABX: Pause right at support any breach and hold could accelerate to the downside. Need to observe gold.

HPQ: Gap down and holding with a decending triangle pattern forming.

ACE: (Sat)

STJ: (Sat) Right at support after it was tested. 2 down days with obvious selling in a stock from a strong sector is a saturation play.

Wednesdays Game Plan

Longs: COF, AXP, D, UAL, PM, JNJ, COH, ALTR, HON

Breakouts: ACE>68.75, DIS<40.50, NVDA<17.00, KLAC<41.40

Volatility:

Shorts: SU, HPQ

 Notes:

ALTR (SAT)

HON (SAT@ 50 DMA and trendline)

HPQ has to stay below 37.50

The XLF finally woke up when everything was going down and rallied yesterday. The rally helped lift the S&P from what could have been a down day. The DJIA also looks good after it resisted going below 12,400 which is a pivotal level in the uptrend. Everything else looks mixed here. The Euro pre market is rallying.

Tuesdays Gameplan AM BACK!!!

Longs: WLP, NSC,TJX, HON, ALTR, SBUX

Breakouts: UAL>26.30, SWN<40.50, XOM<79.00, AKS<14.00, VLO<26.00, AXP>50.50

Volatility: (JNJ R=66.80, S=66.20)

Shorts: IAG, ABX, JPM, SU, AKAM, CIEN

Notes:


WLP>80.90

NSC (Sat)

TJX (Sat@54.00)

HON (Sat@60.00)

ALTR (Sat@47.00)

SBUX (Sat@35.00)

XLP, XLV & XLU are the only sectors that are holding their own to the upside. To the downside we have plenty of leading sectors selling off, we have the XLF breaking down followed by the QQQ and the XLK yesterday. We also saw broad selling in commodities with oil selling off along with gold and silver. Investor sentiment is definately bearish at the moment with the SPY back into its 3 month trading range. I will continue to trade with caution with an eye on saturation plays along with breakdowns today.

BLOG Pause

I am sad to inform readers, that I wont be posting due to external commitments. I will surely get back to posting when the pressure eases. In the mean time, good luck with your trading!

15 Fundamentals To Win The Battle | The Kirk Report

15 Fundamentals To Win The Battle The Kirk Report

Friday's Game Plan

SPY: In total balance after yesterdays close, it failed to both breakout or breakdown. It is important to note that the Euro continues to rally while the SPY continues to lag behind. The SPY is also lagging behind both gold and oil which is another sign that sentiment might be shifting in US equities. The levels that I am watching in the SPY are the 134.00-132.70 as resistance and support, these levels are yesterdays high and low.

Sectors: Nothing notable to write about other than the persistant strength of the commodities and retail sectors as other sectors continue to demonstrate directionless indecision.

Longs:  HD, PM, SWN, ABT, HON
Sat Longs: RCL, SUN, TSO, TGT, VLO

Breakouts: TWC>72.50, TRV>60, JDSU<18.50, TXN>35.25, JPM>48.00, DD>56.00
Volatility: (AKAM S=36.90 R=37.50) (CIEN S= 26.10 R= 26.75)

Shorts: BBY, COH

Sat Shorts: NEM

Wednesdays Game Plan

SPY: It wasn't difficult to find the SPY in my ETF list today, it was where it has been for a while which is right in the middle of the list. Yesterday we had another directionless movement and unless we get a catalyst, this market is going no where.

Sectors: Unchanged, except for gold that surged to record highs. I will be looking for continuation today in that sector and in the retail and basic materials sectors as the continue to demonstrate strength.

Longs: TJX, GG, IAG, TSO

Sat Longs: PNC, WLP, JNPR, ARUN, KLAC,UAL

B.O: HD>37.80, DOW>39, JCP>37.50, COST>75.50, PM>66.00, TWC>72.50

Volatility: BK, KO, SWN, CCL, NVDA, JDSU

Shorts: BRCM, JNPR, UAL

Sat Shorts: GG, IAG

Tuesday's Game Plan

SPY: The market traded in an another narrow range day yesterday as it formed an inside day. The levels I am watch are 132.90 & 132.30 as support, as resistance I am watching the 133.80 & 134.50 as resistance.

Sectors: The weakest sector was technology again yesterday which was led by the SMH industry to the downside. Oil and basic materials along with the healthcare sector were the strongest.

Longs: ABT, TSO, UNH, ORCL, WLP

Saturation Longs: BBY, EMC, JNPR, HPQ, NVDA

Breakouts: ADSK>44.50, HD>37.80, RCL<40.50, CCL<38.00, TWC>72.50

Volatility: AKAM, BK, DD, GG, PNC, PCAR, TRV, STT

Saturation Shorts: KO, ACE

Mondays Game Plan

SPY: Another directionless day in the SPY in the previous session while it also slowly creeps to the upside. The rally that commenced on the 16th is by no means strong as volume has been below average and every move was initiated through a gap. The levels I am watching at the 133.50 & 134.50 to act as resistance and 133.00 and 132.50 to act as support.

Sectors: Lately there has been a notable divergence in the market internal ETF's with the DIA,IWM and EEM being stronger then the SPY and much stroger then the lagging QQQ the NASDAQ ETF. This tells me that all is not well in the market and that this rally should be treated with extreme caution unless the QQQ catches up with the rest of the group, its lagging action will hold this market down.

Longs: WDC, ORCL, WLP, ABT, PCAR

Saturation Longs: KGC, BRCM

Breakouts: INTU>54.50, HD>37.90, TWC>72.50, ADSK>44.40, RCL<40.50

Volatility: UNH, VLO, XOM. TJX

Shorts: LEN, BRCM, JDSU

Saturation Shorts: HIG, WAG, INTU, COST

Friday's Game Plan

SPY: Inside day in the SPY, not much to write about there. The levels to watch are the same from yesterday.

Sectors: Unchanged from the day before, nothing is demonstrating clear order flow at the moment. The stock market is very stock specific.

Longs: INTU, UNH

Sat Long: LEN, AXP, LOW, AKS

Breakouts:ADSK>44.50, ORCL>34.00, BBY< 28.50

Volatility: PM, STT, HPQ, CCL

Sat Shorts: COST, BK, INTU

Thursday's Game Plan

SPY: Gap up yesterday that held intraday, the levels I am watching are yesterdays high and low. Next I am looking at 132.00 as support and 133.50 as resistance. The DOW seems to be the strongest at the moment when compared to NASDAQ and the S&P 500.

Sectors: Retail, gold and the small cap stocks seem to be the strongest at the moment as demonstrated by the IWM.

Longs: UNH

Sat Longs: LEN

Breakouts: COF>53.00, EMC>27.50

ID: BBY

Shorts: -

Sat Shorts: JNPR, ANF,TSO, UNH, RCL, TWC

Wednesdays Game Plan

SPY: The day before yesterday was a day in the middle of no where and yesterday we had a day inside the day before reflecting the current indecision in the markets. The volume yesterday was way below average. We also saw a sell off on the finaly hour of the day where price almost tested the day befores low. Short term key levels in the SPY are 131.00 and 132.00. Overnight at the time of this writing, markets in Europe are choppy and currencies havent move much either. We have the consumer confidence report at 6:00 p.m GMT+4 today which might move the markets.

Sectors: Pretty mixed up, nothing demonstrated any clear order flow yesterday.

Longs: AXP, HON

Saturation Longs: IAG

Volatility: BBY, TSO

Breakout: TGT<49.50, CCL<38.10, RCL<40.50

Short: CHK, EBAY

Saturation Shorts: DANG

Testament

While trading the FX markets for the past 3 years I discovered several things about myself. First, that my trading niche was in equities, the US equities to be more specific. The FX market might be the biggest market out there but it doesn't have to be your arena. Being exposed to different markets reveals your niche. Not all markets are the same, FX has its own personality when compared to either futures or equities. It is critical that you identify what works for you in order to survive in trading.




Second, I discovered that like many members here that trading had enhanced my character in ways that wouldn't have been possible if I weren’t exposed to the markets. The markets taught me to take responsibility for my actions; it also transformed my mindset which automatically changed my character. I am no where near the person I was 3 years ago, the mindset transformation alone was worth the journey.



Third, market preparation is everything in trading. With market preparation came conviction which made entries, exits and re-entries seem effortless. Preparation has also removed all the anxiety and discretion from my trading. Having a solid plan is critical to long term survival and having a game plan for the day is critical for long term survival. I have come to learn through experience that the bigger the trader the more time he spent planning. I have a 14 page trading plan and I still feel it lacks a lot of the elements that would make it complete which brings me to my fourth point.



Fourth, trading taught me that one never stops learning and improving in the markets and in life. The moment one becomes closed minded and refuses to learn is the moment they stop developing. I have learnt that the markets never remain the same, if you fail to catch up, you will be left behind.



I could go on and on about how trading changed me, at the end all I can say is that I love trading which is a field that has given me so much to the extent that I am not it just for the money anymore.

Mondays Game Plan

SPY: Currently in no mans land, right in the middle of no where. Price on Friday closed in the middle of the previous range that it broke out from on a doji candle that reflected indecision. Main S/R levels to watch would be Friday's high and low of 131.87-130.89, should price breach any of these two levels we could see a momentum move. Assessing premarket developments prior to the open will be key in assessing the day ahead as the picture isn't clear at the moment.

Sectors: Like the SPY most sectors are all over the place, the only sector reflecting something is the energy sector with the XLE on the verge of making a 20 day breakout. Gold is currently giving mixed signals along with the financial and tech sector which makes this market a hard read.

Longs: WDC, SUN, AXP

Saturation Longs: IAG

Breakouts: VLO> 30.50, TSO>27.00, WLP>69.50, DPS>38.25, CCL(ID), ADSK(ID), EMC>27.50, COF>53.00

Shorts: WAG

Saturation Shorts: ALTR, COF

Friday's Game Plan

SPY:The SPY held and closed above the 129.50 - 130.00 zone and held up, this confirms that the ETF is back into the range it broke out of on the 15th. My bias is bullish as long as we hold above. A choppy environment is to be expect though.

Sectors: The strongest sector yesterday was technology with the SMH being the strongest ETF in my watchlist followed by the QQQ's which is the NASDAQ ETf. The Weakest sectors yesterday were commodities with oil, gold and silver all taking a hit, my saturation shorts on gold stocks worked out nicely yesterday but unfortunately I didn't take them as they occured during lunch. A period that I don't usually trade.  The financial sector ETF, the XLF formed another bullish U-Turn candle pattern yesterday which makes it two in a row and also forms a higher low. These are both bullish signs that could play out today if price goes above 16.35.

Longs: EBAY,PM,IAG

Saturation Longs CCL

Breakouts: ADSK>44.50, WDC>36.50, TJX>51.00,CHK(ID)

Saturation Shorts: JDSU, CIEN, SBUX,COP - (These saturation plays will depend on wether RIMM's earnungs affect the technology sector, If I get a higher opening I might consider shorts)

Thursday's Game Plan

SPY: Prices gapped lower then rallied during yesterdays session taking out and holding above the pivotal 125.50 level. The next major level ot watch will be the 130 level and whether the SPY holds above it or fails below it. volume on the previous days has been below average signaling indecision. My bias on this market is neutral as it could easily go either way. I plan to book profits when I come across them as continuation in minimal under such circumstances.

Sectors: The strongest sectors yesterday was the commodities sector which was led by the gold and silver industry. SMH was also strong yesterday, this suggests that some of the tech stocks at this point might be oversold which could prove to be good saturation plays. The financial sector also caught my attention yesterday as they rallied in the afternoon session after selling off in the morning to close positive for the day, if buying continues in financials today then we could have an up day in the SPY today.

Longs: SLW, SBUX, IAG,GG,ALTR,SUN

Saturation longs: JDSU,CIEN,TGT,CCL,UAL

Breakouts: CDE>35.50, VLO>29.00,RCL<40.50

Shorts:

Saturation shorts: SLW,GG,KO,SWN,HPQ,PM

Wednesdays Game Plan

SPY: Nothing much has changed in the SPY, 129.50 remains the key level to watch.

Sectors: Unchanged from prior day before yesterday.

Longs:

SBUX: as long as 34.75 holds.
STJ
SLW

Saturation Longs:

NVDA
JDSU
JNPR
CIEN

Breakouts:

TSO>26.00
VLO (ID) 28.40
CHK(ID)

Shorts:

CCL
MS
AET
STT
ORCL

Saturation Shorts:

NEM
COST
PM
IAG

Tuesday's Game Plan

SPY: The key level I am watching in the SPY is the 129.50 level and whether it holds. Yesterday we say an up gap day that was on below average volume, not a very bullish sign. If the market fails to hold above the 129.50 level my bias will be bearish for the day as I expect the market to cover yesterdays gap and head south.

ETF: The strongest sectors yesterday were commodities as they kept the market up after the gap. Technology was also strong and held well during the day, my only concern with the rally was the weakness demonstrated by the financials which could halt the market rise today.


Breakouts:

TSO<26.00
SUN>44.50
JDSU (ID)
CNX(ID)
CHK(ID)
SBUX(ID)
NVDA(ID)



Shorts:

ORCL
AU

Saturation shorts:


SLW
CDE
DOW
HON
KO
MET
SWN

Mondays Game Plan

On Friday, the SPY opened higher and sold off. The levels in the SPY that I will watch are 128.85 - 129.50 to act as resistance and 125.50 - 126.00 as support. My bias is remains bearish after prices closed below 129.50 and will remain so until the level is taken out. The weakest sector on Friday was the energy and oil sectors along with utilities. The strongest was silver. It is important to note that the IWM ETF closed back inside range for the past 2 months after it failed to hold below it with the rest of the market. If it continues to hold above then I expect to see strength in todays market as the IWM has usually leds the SPY.

Longs:

SWN

Breakouts:

SLW>40.70
DIS<40.45
LOW(ID)
XOM<79.00
SUN>44.50

Shorts:

HPQ
AET
PCAR
RTN<49.50
JNPR
LVS
CIEN

An inside day yesterday in the SPY as the market closed at almost the same place where it opened. We have options expiration today which could cause volatility. The levels that I am watching in the SPY are 128.50 and 127.00, a break in either direction could signal the direction for the day.

Longs:

CNX

Breakouts:

SUN>44.50
EXPE>22.00
MET(ID)
SBUX(ID)
COF(ID)
COH(ID)
RTN<49.50
ANF<53.00
JNPR<40.50
UAL<22.00

Shorts:

INTU
TWC
JDSU

Thursday's Game Plan

The market continued to hold below previous key support levels, thus the continued weakness in the market. The SPY sold off on major volume yesterday, 467 million shares which is more than double the average volume of the SPY. Yesterday's low is the new key support level in the market and should we fail to breach and hold below it and head above 129.50 then I expect an extended box to form between 134.50-125.00. This being said, I will remain in momentum mode, booking profits as I come across them. Technology was the weakest sector yesterday as the QQQQ sold off along with oil. The strongest sectors yesterday were the retailers and healthcare sectors.


Longs:

SWN

Breakouts:

CHK>36.00
CNX>54.00
CCL(ID)
COF(ID)
SBUX(ID)

Shorts:

PEP
HPQ
KO
COST
XOM
AET
AU

Breakdowns:

HAL<42.50
RTN<49.50

Wednesdays Game Plan

Yesterday, the market happed down and attempted to retrace back into the previous range but failed. To me, the rally yesterday looked like short covering took place and unless we are able to breach back into the 129.50 area we remain down. I expect us to see a choppy day today unless we trade below 126.60 and there for my expectation remains at a minimum booking my profits into momentum.

Longs:

COF
WLP
CHK
SBUX>36.00
TRV

Breakdowns: HPQ<40.50

Shorts:

JNJ
DOW<35
INTC
USB
HD

Tuesday's Game Plan

We are surely going to gap lower today after the selloff in global equities, the Nikkei crashed 10.5% in the aftermath of the earthquake. Equities in Europe also sold sold soon after the Nikkei sell off. Premarket and at the time of this writing the S&P 500 futures are down -2.4%. The first thing I will be looking at today is the gap in the SPY, after the opening range I want to see thee SPY hold 129.50 as a mimimum for me to start selling agressively. If the SPY fails to breach this level then I expect to see a broadbased sell off. Either way, I expect to see a broadbased move today as volatility will surely be present due to the additional factor of the FOMC statement today at 10:15 p.m Oman time (GMT+4). Today could be incredibly difficult or easy to trade, I plan to hold on to ideas that work out as I expect to see continuation today.

Longs:

TSO
CHK
VLO
GG
SLW
PM

Breakouts:

PEP>65.00
SUN>44.50
XOM(ID)
COF(ID) (50.00-48.00)
SLW(ID)
KLAC(ID)
TJX(ID)

Shorts:

HPQ< 41.00
CIEN
SBUX
NTAP

Mondays Game Plan

Geo political and natural disasters continue to take their toll on the market from last week on global equities, other than that we have no significant news reports coming out today. The SPY on the other hand held support on Friday and failed to breach its key level, I see that as bullish till proven otherwise. The next thing I want to see in the SPY is a breach of the 131.00 level; if it is breach then I see room to the upside with 133.00 as next resistance. To the down side, the 129.50 level is key; if it is to be breach then I expect to see broad based selling. On a side note, the weakest industry last week was the SMH industry. If weakness persists in this industry than it could burden the market as the SMH is a major part of the technology sector and technology plays a major role on the market and SPY. The strongest sector was Major Airlines preceded by Specialty Eateries. As for the month, Silver and Long-Term Care Facilities industries are the strongest.
We are still in a balancing environment here, I will remain cautious here by setting up a plan that fits my risk parameters for the day and by picking the best stocks under this environment. I also plan on booking into momentum going into today’s session. In this market its either grab what you have or wait for it to be taken from you.

Longs:
 
CIEN>25.00
SLW>42.30
CHK>33.00
WLP
TRV
 
Breakouts:
 
RTN>52.50
PEP> 64.75
ABT>49.00
ALTR(ID)
HON(ID)
AKAM(ID)
 
Shorts:
 
EBAY
GLW
ORCL<31.50
TXN<34.00

Friday's Game Plan

Pre-market, markets world wide have sold off along with the EUR/USD and other currencies on news of a major earthquake in japan. The SPY sold off yesterday and closed right above its key level of 129.70 after a choppy day yesterday. If the market gaps down today I will be looking for it to hold below support to find any  continuation before initiating positions. The opening range will be crucial to assess market direction today.

Longs:

KSS: as long as it stays above 54.80
WLP

Breakouts:

JCP>37.50
CVS>34.20
JCP>37.50
HAL<43.50
ORCL<31.50
COF<47.80
UNH(ID)

Shorts:

BK
VLO
CIEN
HIG
QCOM

Importance of Attitude

The Man Who Thinks He Can




If you think you are beaten, you are;

If you think you dare not, you don’t!

If you’d like to win, but think you can’t,

It’s almost a cinch that you won’t.



If you think you’ll lose, you’re lost

For out in the world we find

Success begins with a fellow’s will;

It’s all in the state of mind!



If you think you’re outclassed, you are;

You’ve got to think high to rise.

You’ve got to be sure of yourself

Before you can win the prize.



Life’s battles don’t always go

To the strongest or fastest man;

But sooner or later the man who wins

Is the man who thinks he can!



- Walter D. Wintle

Thursday's Game Plan

Yesterday we had another inside day which which was also inside the day before, this will lead to volatility in either direction as contraction leads to volatility and volatility leads to contraction. The levels that I watch in the SPY are 130.00-129.70 as support and 133.00-134.70 as resistance. Overseas, markets sold off for various reason including Libya and Spains downgrage. As for sectors, the only thing to note from yesterday was the weakness demonstrated by the SMH sector as it took out its key support level at 34.50. If price hold below that level then I expect to see continuation to the downside, this in return could have a chain reaction affecting the QQQQ and SPY by not allowing it to move higher. The strongest sector yesterday was the XLU or utlilities sector. This reflects investors inconfidence at the moment in investing in more risky assets, the XLU along with the XLV or healthcare sector remains in play until the market paints a clear picture and demonstrates which direction it wants to head in.

Longs:

CHK: Above yesterday
RTN:As long as it stays above 52.50
A
ABT
HRB

Breakouts:

JCP>37.50
KSS>56.00
HD>37.85
WLP>70 (long term resistance at this level)
UNH>44.50
KO>65.90
LVS<41.70
AEM<67.00

Shorts:

NVDA: Below yesterday
CIEN: Has to hold below 24.80
CREE

Wednesdays Game Plan

Yesterday the market rallied and formed an inside day, the levels in the SPY remain the same and any breach above or below them should set the tone for the upcoming move. The strongest sector yesterday was the financial sector and the weakest was commodities and the SMH sector. The fact that technology and the SMH were strong yesterday hindered the rally, this is what usually happens when the market is in balance.



Longs:

MMM
KLAC
JPM
SLW

Breakouts:

KO>65.90
WDC>36.80
DOW>39.00
CDE>35.50
RTN>52.50
JNPR>45.00
BIIB>72.00

Breakdowns:

LVS<42.00
ADSK<39.50

Inside days:

ADM(ID)
WLP(ID)
ABT(ID) at resistance
A(ID)
ALTR(ID)

Shorts:

NVDA
CIEN
JDSU

Tuesday's Game Plan

The SPY sold off again yesterday but still remains in balance as it is yet to clear its key levels of 131.45-135.00. The entire market sold off yesterday along with commodities, gold and silver gapped higher but failed to hold as they both came in. The XLF is on the verge of a breakdown signaling that the financial sector could be weak and the SMH sector was the weakest sector yesterday among the sectors I follow. The picture looks gloomy but as of yesterday the market hasn't confirmed a direction yet. Thus I remain in momentum mode booking my profits more agressively once I have them. There aren't any major news releases today.

Longs:

HK
SLW
SD
ARUN

Breakouts:

KK>66.00
A(ID)
JNPR>44.60
ABT(ID)
COF<47.80
LVS<41.70

Shorts:

BK
NEM
HPQ
PCAR
AKAM
HIG

Mondays Game Plan

On Friday the market sold off during the first few hours and then recovered some of the losses during the last hours of tradng. Little has change in the market, the key levels in the SPY remain intact and the market remains in balance. The key levels are 134.70 to the top side and 129.75 to the bottom side. As long as we remain in between those levels I remain in momentum  mode, booking profits more aggressively. Looking at the strongest sector from last week, Silver was the strongest followed by the Healthcare sector, and as for the weakest Major Airlines was the weakest.

Longs:

ALTR
JDSU>29.00
GG
SLW
ABT
UNH
WLP
TRV

Breakouts:

KLAC
JNJ>61.50
EMC>27.40
CHK(ID)
NVDA(ID)
KO>66.00
TWC>72.50
COF<48.00
HPQ<42.00
BK<29.90

Shorts:

UAL

Yesterday, we saw a broad based rally in all sectors of the market. The rally in the SPY occured in its range, we didn't clear any levels and that can cause concern. Ths market is still in balance and could easily head either way, the levels that I am watching in the SPY are 133.70 & 134.70 as resistance and 131.80, 130.35 & 129.70.The strongest sector yesterday was health care as reflected by XLV.  The SMH sector was also strong as it tested resistance yesterday. My tactics for the haven't changed, we are still in balance mode which prompts me to book my profits into momentum and trade only my best ideas.

LONGS:

ALTR
UNH
HAL
COP
SLW
GG

BREAKOUTS:

TWC>72.50
EMC>27.40
COF<47.80(50SMA)
KO>65.90
ABT>48.80

SHORTS:

STT
WMT
NVDA

Yesterday we had a pretty flat day on above average volume, a possible higher low might have formed in the SPY and if that occured than the market should rally today. Other than the higher low, we still remain in balance till the market breaks out of either 134.70 or 129.70.The fact that markets world wide rallied overnight could cause us to an up day today.
The strongest sector yesterday was the technology sector, at this given time there isn't any clear order flow in any sector except for commodities which also isnt very clear at the moment. In this environment I will continue to book into momentum and re-enter on good ideas for as long as I have to.

Longs:

KLAC
ALTR
ANF
CHK
GG
XOM
HAL
SLW

Breakouts:

UNH>44.00
TJX>51.00
CDE(ID)
COP>79.00
IAG>22.34
BK<30.00
NEM<54.00

Shorts:

STI
PCAR
AMGN
UAL
HIG