Picks and Observations for Friday June 28, 2013: $AMZN, $BTU, $VLO, $UA

Another day down, another set of trade setups coming up next!

$AMZN:  I think we are currently in no-mans land to take a solid position.  That being said, if we close above 284.80 enter long.  If we fall below 273.21, enter short.  AMZN_JUNE_28_2013

$BTU:  This guy has been on a decline lately and I don’t see that decline letting up any time soon.  We are in some sort of pennant/mini triangle.  A break below 14.30 and I’ll take this trade bearish down to 12.90.BTU_JUNE_28_2013

$VLO:  This stock is just in a strong downward channel.  We had a little bearish flag yesterday and I believe, with confirmation, this could be a great short entry to take after the first 15min and follow it down to 33.23 again.  I’m not super confident with this trade, but I am definitely keeping an eye on it.VLO_JUNE_28_2013

$UA:  Well I got burnt by this stock short and I will be doing all i can to avoid that scenario again.  Here I have UA set up as a bracket trade.  For a short entry, I want a close below 57.59.  For a long entry, I want a close above 60.96.UA_JUNE_28_2013

Goodnight all and good luck.

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