Friday, February 18, 2011

Friday's Game Plan

Today we have options expiration so I expect the day to be slow in afternoon. We also have a 3 day holdiday up ahead and it wont surprise me if traders take an early leave. That being said, the SPY continued to rally yesterday on 109 million shares which is below average. This rally on low volume indicates that the market sellers are simply absent and are unwilling to sell yet. My bias remains bullish with a particular interest in oil and gold stocks.

Longs:

NVDA
AKS
VLO
HAL
HIG
DD

Breakouts:

SLW
WLP>67.30
JNPR
ADBE
XOM> 84.00
JPM

Shorts:

EXPE

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