Thursday, July 21, 2011

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.

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