Longs: KSS (Wedge > 47.75)
Breakouts: JDSU>12.35 (HBO), ETN> 43.00, EBAY>31.00, ALTR>37.50, XOM>74.50, KO>69.75
Shorts: AKAM (22.00 & 20SMA), CHK (32.00), QCOM (51.50), KLAC (37.00), UAL (19.00), EBAY (31.00), DPS (38.00), HON (47.50),
Notes:
KO
The market yesterday went up on below average volume to do the weather concerns in the USA, today we have imporant news releases coming out as well with the FOMC meeting being the most important. At this stage, the market is at crossroads and could head in either direction, the market is also poised to open lower today which would nullify my saturation shorts. Should the market open lower, yesterdays high will be me key reference point for my shorts, an initial failure to take out the highs after a push higher from the open would deem my saturation shorts valid. However, should the market head higher and take out yesterdays highs, that would probably trigger my breakouts trades. Should these breakout trades fail, my shorts would come back into play again through the red dog reversal.
EUR/USD down.
International markets are mixed.
Tuesday, August 30, 2011
Monday, August 29, 2011
Mondays Game Plan
Breakouts: COH>55.00, EBAY>29.50, CHK>33.65, DPS>36.50, AET>38.50, DOW>27.00, UNH>46.25, KO>69.50,
Shorts: IAG (20.75), GG (52.00)
Notes:
SPY wedge pattern that could break to the upside today unless we get a significant gap down.
QQQ gap fill from August 17th.
IAG and GG should open higher.
Overall I have a feeling we will get a choppy day today in both directions prompting me to book profits on momentum.
Thursday, August 25, 2011
Thursdays Game Plan
Longs: GG (SAT@ 48.00)
Breakouts: UNH >46.00, AET>38.50, COST>77.50, KO>69.80, TRV<48.50, XOM>74.50
Shorts: CC (SAT@28.50), ETN (SAT@41.20), AXP (SAT@48.30), BBY (SAT@25.00), CHK (SAT@30.20), SBUX, DD (SAT@46.25),
Notes:
KO
TRV Could breakdown due to weather news.
EUR/USD key level at 1.4500 - 1.4350, 3 inside days.
Jackson Hole Symposium
AAPL Steve Jobs Resignation
Breakouts: UNH >46.00, AET>38.50, COST>77.50, KO>69.80, TRV<48.50, XOM>74.50
Shorts: CC (SAT@28.50), ETN (SAT@41.20), AXP (SAT@48.30), BBY (SAT@25.00), CHK (SAT@30.20), SBUX, DD (SAT@46.25),
Notes:
KO
TRV Could breakdown due to weather news.
EUR/USD key level at 1.4500 - 1.4350, 3 inside days.
Jackson Hole Symposium
AAPL Steve Jobs Resignation
Wednesday, August 24, 2011
Wednesdays Game Plan
Longs: GG
Breakouts: ALTR>37.65, AET>38.50, ZOM>74.75, AXP>46.50, KO>69.75, COST>77.50, MCD>89.50, BBY>23.50, DPS>36.50 (HBO), TRV<48.50, WAG<34.00
Shorts: JNJ, COH, ALTR, WFC, JPM
Notes:
MCD about to make new 52 week highs.
SPY key level to watch is 116.50
GLD the gold ETF got hit on ultra high volume to the downside.
EUR/USD still choppy, possibly forming a cup and handle pattern with 1.4500 being the key level.
Breakouts: ALTR>37.65, AET>38.50, ZOM>74.75, AXP>46.50, KO>69.75, COST>77.50, MCD>89.50, BBY>23.50, DPS>36.50 (HBO), TRV<48.50, WAG<34.00
Shorts: JNJ, COH, ALTR, WFC, JPM
Notes:
MCD about to make new 52 week highs.
SPY key level to watch is 116.50
GLD the gold ETF got hit on ultra high volume to the downside.
EUR/USD still choppy, possibly forming a cup and handle pattern with 1.4500 being the key level.
Saturday, August 13, 2011
Friday's Game Plan
Breakouts: COH> 55.00 (ATR= 3.80), TRV> 52.00 (HBO), UAL<16.00, GG> 51.00 (HBO after gap fill)
Shorts: HON (SAT@ 47.00 ATR=2.35), ETN (SAT@42.00 ATR=2.53), DPS (SAT@38.00 & 200 SMA ATR=1.35), PM <65.00 (ATR=2.12), KLAC
Notes:
No long setups today as the environment is dangerous and any attempt to catch a falling knife could cause severe damage.
Industry sector strength indicates that the most defensive sectors were up yesterday confirming the bias of risk aversion. The industrials were the strongest along with consumer staples and healthcare.
Financials were weak which is a concern, the XLF also broke down and failed to breach resistance (previous support) yesterday.
VIX @ 36.00, hence the volatility. Almost double the normal move. I remain cautious trading smaller size and keeping an aye on my ATR to properly place stops and give my trades enough room. The last thing I want in this environment is to get shot on good ideas due to lack of room in placing stops.
Shorts: HON (SAT@ 47.00 ATR=2.35), ETN (SAT@42.00 ATR=2.53), DPS (SAT@38.00 & 200 SMA ATR=1.35), PM <65.00 (ATR=2.12), KLAC
Notes:
No long setups today as the environment is dangerous and any attempt to catch a falling knife could cause severe damage.
Industry sector strength indicates that the most defensive sectors were up yesterday confirming the bias of risk aversion. The industrials were the strongest along with consumer staples and healthcare.
Financials were weak which is a concern, the XLF also broke down and failed to breach resistance (previous support) yesterday.
VIX @ 36.00, hence the volatility. Almost double the normal move. I remain cautious trading smaller size and keeping an aye on my ATR to properly place stops and give my trades enough room. The last thing I want in this environment is to get shot on good ideas due to lack of room in placing stops.
Sunday, August 7, 2011
Mondays Game Plan
Longs: C (SAT@31.00), NVDA (SAT@12.65), EBAY (SAT@28.50), COF (SAT@41.00),
Breakouts: EBAY<28.00, UAL<16.50, SNDK>40.00 (HBO), AXP<46.50, GG>46.85 (HBO),
Shorts: SWN, WFC<25.00,
Notes:
Market highly volatile, risk should be adjust according to the VIX and the stocks daily ATR.
VIX @ 32.00
XLP strongest sector, indicates defensivness from investors. The XLP also failed to breach its 200 DMA.
Oil te weakest sector in my list.
Breakouts: EBAY<28.00, UAL<16.50, SNDK>40.00 (HBO), AXP<46.50, GG>46.85 (HBO),
Shorts: SWN, WFC<25.00,
Notes:
Market highly volatile, risk should be adjust according to the VIX and the stocks daily ATR.
VIX @ 32.00
XLP strongest sector, indicates defensivness from investors. The XLP also failed to breach its 200 DMA.
Oil te weakest sector in my list.
Friday, August 5, 2011
Friday's Game Plan
Longs: MCD (SAT@84.00 and 50 SMA also relatively very strong), JNJ (SAT@61.50 and Gap cover), AET (SAT@37.00 & 200 SMA), AXP (SAT@47.00 The level should hold first), QCOM (SAT@50.50 - 50.00), COH (SAT@ 57.80 & 200 SMA and also right below support).
Breakouts:TRV<53.00, WFC<25.25, GG<45.60, UAL<16.50, SNDK<38.75, KFT<33.75 Shorts: JPM, ALTR, XOM, KLAC, MS, C, NVDA, DOW< 30.25 Notes: Markets sold off very hard yesterday amid liquidity concerns, the markets are also oversold, but under these conditions, liquidity trumps all.Waiting for NFP today, which could is the catalyst today, under these conditions anything can happen. Things can easily overshoot. This market could do one of two things today, the first being a rally early in the morning and then a sell off after paniced investors sell their holding into the rally. Or, we get a sell off right off the gates, as panicked investors continue selling after a bad NFP number. OIH was the weakest sector yesterday along with commodities such as silver and gas. In other words, everything got teared yesterday, nothing was relatively strong. Yesterdays high and low are my reference points in this environment. MCD my best play of the day, strongest stock in my list after yesterdays sell off, thus making it relatively very strong. COH is my Joker play today, as it has the potential to fool people the most. VIX> 30.00, Caution is advised.
Breakouts:TRV<53.00, WFC<25.25, GG<45.60, UAL<16.50, SNDK<38.75, KFT<33.75 Shorts: JPM, ALTR, XOM, KLAC, MS, C, NVDA, DOW< 30.25 Notes: Markets sold off very hard yesterday amid liquidity concerns, the markets are also oversold, but under these conditions, liquidity trumps all.Waiting for NFP today, which could is the catalyst today, under these conditions anything can happen. Things can easily overshoot. This market could do one of two things today, the first being a rally early in the morning and then a sell off after paniced investors sell their holding into the rally. Or, we get a sell off right off the gates, as panicked investors continue selling after a bad NFP number. OIH was the weakest sector yesterday along with commodities such as silver and gas. In other words, everything got teared yesterday, nothing was relatively strong. Yesterdays high and low are my reference points in this environment. MCD my best play of the day, strongest stock in my list after yesterdays sell off, thus making it relatively very strong. COH is my Joker play today, as it has the potential to fool people the most. VIX> 30.00, Caution is advised.
Wednesday, August 3, 2011
Wednesdays Game Plan
Longs: KLAC (SAT@38.00), HAL (SAT@52.00), SBUX (SAT@38.00), TJX (SAT@53.00 & 50SMA), MCD (SAT@85.00), JNJ (SAT@63.25 & 200 SMA), PM (SAT@69.25, 20DMA and Support), KO (SAT@67.00 & 50 DMA)
Breakouts: EBAY<31.70 (HBO Gap Cover), C<37.00, GG>49.75 (HBO & Gold strong), VLO <23.00
Shorts: WAG (Gap Cover), DOW, ETN, COF, ALTR
Notes:
The SPY has a last line of defence at 129.50, should this level be breached, I expect selling to continue. The last 3 down days have been on ascending selling, meaning that sellers are stepping up their selling.This being said, the market does look oversold at these levels, and a bounce might be in play today.
I will be looking for saturation longs in this environment given the oversold market. I will also not give them much room should selling re-ignite. My bias for this market is bearish at the moment, so any longs would be taken with extreme caution. Holding on to short positions is also a challange as markets get volatile and re-entries could be necessary stocks arent given enough room.
VIX @ 24.50
EUR/USD rallied overnight.
Should the market open inside yesterday, I will pay attention to the breakout levels and yesterdays low. Should yesterdays low be taken out on high volume then that would be a sell signal.
C<37.00, TJX, JNJ & GG
Breakouts: EBAY<31.70 (HBO Gap Cover), C<37.00, GG>49.75 (HBO & Gold strong), VLO <23.00
Shorts: WAG (Gap Cover), DOW, ETN, COF, ALTR
Notes:
The SPY has a last line of defence at 129.50, should this level be breached, I expect selling to continue. The last 3 down days have been on ascending selling, meaning that sellers are stepping up their selling.This being said, the market does look oversold at these levels, and a bounce might be in play today.
I will be looking for saturation longs in this environment given the oversold market. I will also not give them much room should selling re-ignite. My bias for this market is bearish at the moment, so any longs would be taken with extreme caution. Holding on to short positions is also a challange as markets get volatile and re-entries could be necessary stocks arent given enough room.
VIX @ 24.50
EUR/USD rallied overnight.
Should the market open inside yesterday, I will pay attention to the breakout levels and yesterdays low. Should yesterdays low be taken out on high volume then that would be a sell signal.
C<37.00, TJX, JNJ & GG
Tuesday, August 2, 2011
Tuesday's Game Plan
Longs: QCOM (SAT@53.25 & 200 DMA), SWN (SAT & 50 DMA), NEM (SAT@54.80), XOM (SAT@78.80), GG (SAT@200)
Breakouts: WAG<38.50, JPM<39.00, HON<52.00 (HBO), COST<77.00, COF<47.00 (HBO), ALTR<40.00
Shorts: NVDA (SAT@14.50)
Notes:
SPY is barely holding the 200 DMA which is one of the last lines of defence for the bulls. Should the level crack, I expect the bears to step up and send the market lower.
Not many setups after yesterdays open higher and sell off. Most of my charts are messed up. However, I am mostly bearish, I will wait for my break downs to form before tipping my hand in this market.
At the time of this writing gold made a new recort high of $ 1634.68.
Breakouts: WAG<38.50, JPM<39.00, HON<52.00 (HBO), COST<77.00, COF<47.00 (HBO), ALTR<40.00
Shorts: NVDA (SAT@14.50)
Notes:
SPY is barely holding the 200 DMA which is one of the last lines of defence for the bulls. Should the level crack, I expect the bears to step up and send the market lower.
Not many setups after yesterdays open higher and sell off. Most of my charts are messed up. However, I am mostly bearish, I will wait for my break downs to form before tipping my hand in this market.
At the time of this writing gold made a new recort high of $ 1634.68.
Subscribe to:
Posts (Atom)