Thursday, September 30, 2010

Thursday's Game Plan

SPY is clearly in a range with direction to be determined. Choppy action yesterday the levels ill be watching are 115 and 112.50. We are at the end of a quarter and fund managers wont be selling today so a choppy market is expected.




Longs:



GG: > 44.30 with an IPT being 45.



ALTR: A long coming into the day. Ill be looking for an entry with a preferable R/R as long as the market permits longs today.



SLW: > 27.10 it has all the room in the world.



HAL: A trade coming into the day with some room to go. IPT 34.10.



Shorts:

JPM > 38.30 level with an IPT being 37.60. This stock should only be considered when and if the market comes in.

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