Longs: DD (40.00),
Shorts:SWN<34.00, PM, COH (57.00, 200 SMA & 50 SMA),
Breakouts: XRT>47.00, EEM>36.00, QQQ>54.50, GG<45.00, KO>68.00, VLO (IDB R=19.00 S=18.30), JDSU (IDB R=11.75 S=11.20), UTX (IDB R=69.75 S=69.30), TWC>66.50, CIEN>11.50, ALTR>35.75,
Notes:
If SPY and the QQQ break above their 2 day highs, I expect them to fill the gap or at least at a minimum 50% of the gap.
Gold got slamed as expected after the breakdown - 1550 is the next level to watch out for to the down side.
COH saturation play is pretty clean.
Many of the breakouts should be treated with extreme caution, as the gap might not fill completely. Lowering tier size and booking momentum will be my prefered tactic for this environment.
The market open again will play a huge role in determining price action and wheere prices would probably go.
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