Picks for June 12, 2013 $FCX, $LNKD and $PHM

Hi all!  There are a number of stocks that could be solid plays for tomorrow.  I’ll list them, but will only go into detail on 3 due to time constraints.  Here is a small list of stocks to keep an eye on:

$Z 15min bearish entry

$GS 15min bearish entry

$AXP 15min bearish entry

$SLV same short entry as yesterday

$CAT entry below 82.56

Of these 4, $Z is my favorite for a 15min entry and SLV is still looking nice with a close below 20.72.

Now, here are 3 with a bit more detail:

$LNKD:  When I first looked at this chart, I was in love with shorting it.  However, I’m now noticing that the oscillators are starting to turn bullish.  That being said, I am waiting for a close below 164.92, so as we approach that entry, there is time for oscillators to turn back bearish.  There are three targets.  Starting from closest target to furthest: 159.94, 154.68, 140.35.  I will choose a stop as we get closer to the entry.LNKD_JUNE_12_2013

FCX:  FCX had pretty strong volume today.  It’s possible that the bulls may turn this one back north due to the doji candle today, but I like a bearish entry with a close below 29.93.  See chart for trade setup:FCX_JUNE_12_2013

$PHM:  Lastly is PHM.  To be honest, I’m not sure if this one is a good 15min entry or a close below entry.  Right now I have it as a 15min entry, but we are bumping into support over the past 5 days, so it may be more wise to wait for a close.  At any rate, oscillators are supporting a bearish move.  I like this one down to the 200 MA or to 18.81.

PHM_JUNE_12_2013Have a good night, all.  Happy Trading!

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