Well as I mentioned yesterday, I don’t plan on taking any addition positions until after the Fed speaks, so that we get some sort of idea of a direction. With that in mind, all entries will be in the last 15min of the trading day tomorrow. Let’s get started:
$DDD: The entry I like is a close above 48.90. The trend is looking bullish and despite the down day today, I believe the trend is still in tact. However, as I’ve been saying about a lot of stocks lately, I’d like to see volume increase with a bullish move.
$DIS: This is a trade I would have gotten into at the end of today had it not been for the FED tomorrow. That being said, as lon gas we don’t get a huge move up, I would enter long given that we close above today’s high.
$FSLR: This one is interesting. It is in some sort of pennant/flag pattern as volume has declined steadily for the duration of the pattern. I believe this is a bearish pattern, but time will tell. Therefore, I have a number of entries. Conservatively on the bearish side, I like an entry with a close of 44.30. A more aggressive bearish entry is a close below 45.50. On the bullish side, I like an entry of 46.80. Again, these are all end of day closes in order to make an entry, but I would expect a breakout in either direction tomorrow.
$HD. Well I got burned on this stock last week, but I think it has the signs of turning bullish. I like entering this one on a close above 75.55.
Here are some other trades I’m looking at:
$AEO: Same entry as yesterday
$AAPL: Same entry as yesterday
$COST: Same as yesterday
$HAL: Get in on close above today’s high.
$XOM: Watch for a bullish entry
$JCP: Same entry as yesterday
$LOW: Entry of 41.88
$PHM: Same entry as yesterday
$SLV: Close below 20.72
$UA: Watch the bracket trade
$WMT: Entry with a close above 76.25.
Keep a very close eye on these two; WLT is close to it’s all time lows. It is in some sort of downward triangle that may breakout soon. In addition, it just formed a morning star reversal pattern on huge volume. If it breaks out of that triangle, it may be worth writing some puts and/or buying some calls.
Next is BBRY which is in a long term symmetrical triangle. Watch for a breakout!
That about wraps it up. I will be cautious tomorrow. I’d like to see a bullish trend resume as there are a lot of great setups forming, but we’ll see what happens tomorrow. Good luck, all!
StocksNca$h 