Wednesday, August 24, 2011

Wednesdays Game Plan

Longs: GG

Breakouts: ALTR>37.65, AET>38.50, ZOM>74.75, AXP>46.50, KO>69.75, COST>77.50, MCD>89.50, BBY>23.50, DPS>36.50 (HBO), TRV<48.50, WAG<34.00

Shorts: JNJ, COH, ALTR, WFC, JPM

Notes:

MCD about to make new 52 week highs.

SPY key level to watch is 116.50

GLD the gold ETF got hit on ultra high volume to the downside.

EUR/USD still choppy, possibly forming a cup and handle pattern with 1.4500 being the key level.

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