Tuesday, March 29, 2011

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

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