Wednesday, February 23, 2011

Wednesday's Game Plan

Yesterday we saw some broadbased selling across all sectors as profit taking and geopolitical events took their toll on the markets. This being said, we are still in a bull market. One down day doesnt change the trend. I will continue to look for longs after the open unless the market sells off on my face. Then I'd probably do nothing, I wont short this market just yet. Selling has been met by buying when ever the market went down. Technology with the QQQQ's and the financials were pretty weak yesterday, I will be looking to see if that weakness persists today.

Longs:

XOM
GG
TRV
EMC
HPQ

Shorts:

BBY
SWN
CNX
MRK
TGT
PCAR
AKAM
STT
BRCM
FCX
KGC
WFC

Breakouts:

SLW>42.35

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