Longs: RTN (SAT@ 48.50), COH (SAT@ 61.25), COST (SAT@ 78.50 & 50 SMA), PM (SAT), GM (SAT@ Suppot), TSO (SAT@ Support 22.50)
Breakouts: EMC, TEVA>51.00, WFC<26.50, PNC < 59.75, MRO, TSO < 22.50, Volatility: (A R= 48.60 S= 47.85) Shorts: DIS, TGT Notes:
Today is NFP Friday and I expect to see volatility in this this directionless market. At this point it will be easier to toss a coin and guess the direction then try and predict the direction of the SPY. I will try to be as cautious as possible today, if this market doesn't know where its headed for I wont be on board. I believe in high probability trading, and this isn't it. Until ket levels are cleared, I remain focused on survivng this choppy condition.
(A) looks awesome as a volatility play, if it breaks down it takes out the 50 SMA and if it breaks out it has room to go to the upside which is the day before yesterdays high.
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