Picks for JUNE 13, 2013: $LULU, $TXN, $AEO, $JCP

Here we on the eve of a potentially trend defining day.  Let’s see what we can plan for!

$LULU:  So a lot of people are thinking this stock is oversold and it’s going to bounce.  Well, I don’t disagree that it’s oversold and I don’t disagree it will bounce, but I do think that it has some more downside, and that’s what I’m hoping to catch tomorrow.  My plan is for a 15min entry with a target of 61.52.  My stop will be very tight, so I may get stopped out quick.  I will place it just above the day’s open in case the stock does pop.  I think this has good potential of earning some money tomorrow.

LULU_JUNE_13_2013

$TXN:  This one just broke out of some sort of wedge formation.  I like this one short after the first 15min with targets seen in the chart below.  I will probably take profits at 34.00 and then re-enter if the trend continues.

TXN_JUNE_13_2013

$AEO  This one just broke out of a triangle and heading downward.  This is another 15min entry with a target of 18.12.  Oscillators are supporting the move.  Not much else to say, but I like this one short tomorrow.  My stop will be above the resistance level at $19.15.

AEO_JUNE_13_2013

$JCP:  Last but not least we have JCP.  This stock just broke out of a large triangle, but rather than taking the trade now, I’d like to see a close below 17.11 before entering.  My target is 15.73.  My stop is TBD.JCP_JUNE_13_2013

Good luck everyone, and keep an eye on the overall market!  Goodnight.

 

 

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