Longs: UAL, GG (51.50 50 DMA)
Breakouts: UNH>48.50, COH>57.00 (200 DMA), QCOM>53.00, JNJ<62.50, MCD>86.50, VLO (IDB S=21.80, R=22.50)
Shorts: CIEN (14.00 & 50 DMA), AET (51.00), WLP (66.50 & 50 DMA), KLAC (38.25 & 50 DMA), SNDK (41.00), ALTR (37.50), COST (81.00 & H&S Pattern hourly)
Notes:
Saturation short seem to be the play today, after the market rallied for the past two days, yesterday we rallied on less volume when compared to yesterday which tells me that this move is running out of fuel. A higher open would be nice today as it would make it perfect to sell these stocks short, a lower open however, followed by a rally could be more tricky making it possible for the market to go in either direction. Yesterdays high in the case of a lower open should prove to be the pivotal point.
Key economic indicators at 4:30 could push the market higher or lower premarket.
No comments:
Post a Comment