Wednesday, February 29, 2012

Wednesdays Gameplan

Longs: ANR (19.00), EMN, OAS

Breakouts: X<27.50, XOM>88.00, MOS>59.50,PCAR>46.75, YUM>66.00, WFC>31.50, UAL<20.00,CDE>30.75, C>33.50

Shorts: TJX (37.00), SNDK, KLAC

Notes:

SPY made multi year highs yesterday, I am either bullish or neutral today with trading shorts super carefully. Order flow is up.

EUR/USD heading south after LTRO2 being higher then LTRO1 (strange).

SLV blew past resistance yesterday XLF looks set to do today what it failed to do yesterday which is breakout.

SPY, QQQ, IWM and DIA all higher.

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