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!