Wednesday, May 18, 2011

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.

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