Tuesdays Game Plan

Longs: WAG, COH

Breakouts: MCD>83.00, SWN<40.50M JPM<40.00, KO>66.25 (HBO), PCAR>48.30 (HBO), HD>35.00 (HBO),AXP>49.40, PM>69.50 (HBO), D>48.50, UNH>51.50

Volatility: NVDA (R= 16.00, S= 15.50)

Shorts: WDC <33.50 Notes:

NVDA: Has the potential to either be a saturation long or a breakout short after the stock formed a bearish pennant on the hourly.

The market is most likely headed for a rotational choppy day. I have a ton of breakout trades today which isn't what I wanted to see as the potential for them to move cleanly is very low. I expect alot of fake breakouts as this environment waits for the FOMC report tomorrow. I will be breakouts safely in this environment, taking only those that hold above the level and demonstrate clear order flow on the tape prior to the breakout. I will also be more inclined to take breakouts that test resistance after it breaks out and holds Ray style.

I have zero saturation plays, which indicates just how much this market has been indecisive.

The rally yesterday in the markets was on below average volume which indicated short covering ahead of tomorrows reports.