Market Review July 10, 2013

Today was a pretty boring day.  Nothing really happened in the markets even with the FOMC.  SPY closed a few pennies above it’s close from yesterday.  The DOW finished pennies below while the NASDAQ had a rather strong bullish day.  I am still bullish on the markets.  It’s not really worth posting charts today, so I will get into the next segment:

REVIEW OF YESTERDAY’S PICKS:

$BTU:  No Trigger.

$COST:  You’d have been triggered in.  Not much action.

$DECK:  No Trigger

$QCOM:  No Trigger

$CELG:  You would have been triggered in; up a few pennies.

$XONE: You would have been triggered in, but as pointed out, there are no options for this stock, unfortunately.

$DMND:  You would have been triggered in; down a few pennies.

REAL ACCOUNT ACTIVITY:

$UA:  HOLDING (+2%) I still expect a bullish move north.

$LNKD:  HOLDING (-8%)  I’m not sure what to think here, but it seems, at least on the daily chart, that we found a bottom.  I expect we go back to retest 195.

$DMND: OPENED (-14%)  A lot of this loss is due to commission and the bid/ask spread. I expect to rebound in the coming days.

$AXP:  CLOSED (+17%)  I am grateful I was able to get out before the plunge down today.  Wish I had shorted, but such is life.

That’s about it for my open positions.  Picks for tomorrow coming soon.

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Picks for Wednesday July 10, 2013: $BTU, $COST, $DECK, $QCOM, $CELG, $XONE, $DMND

I have a quite a list for you all to make up for lost time and because a lot of these look ripe for the taking!  Let’s get started:

$BTU:  I like a close above 16.21 with a target of 18.00.  Oscillators are starting to turn around and I think a break above the 16.21 line will set this stock on a bullish uptrend.  Stop TBD.BTU_JULY_10_2013

$COST:  If you had been watching this, you would have gotten triggered in today.  Sadly, I was not watching.  I think this guy is going higher.  15min bullish entry with a target of 115.39.  Stop is 112.00COST_JULY_10_2013

$DECK:  This stock has been strong ever since I thought to buy puts a few weeks ago.  We just broke out of a long term and short term downward trend line.  I like this stock long with a 15min entry.  Targets are 55.42, 57.19 and 59.97.  Stop is 53.00DECK_JULY_10_2013

$QCOM:  We are in a clear downward channel.  I like an entry on a close below 58.86 or if you want to be aggressive, take a 15min short entry.  Target 1 is 57.36.  T2 is 56.56.  Stop is 60.40.  Careful on this one with the R/R ratio.QCOM_JULY_10_2013

$CELG:  I like this one long.  It looks strong and broke out of a short term downward trend line a few days ago.  This is a 15min entry with targets of 127.60 and 130.  The R/R ratio isn’t the best so watch out for this one as well.  CELG_JULY_10_2013

$XONE:  Pure speculation but this thing is so overly extended I can’t see how it wouldn’t have a pullback.  The only question is when.  Keep a close eye because it has a ways to fall.XONE_JULY_10_2013

$DMND:  This one just broke out from some long term resistance.  I like this one long on a 15min entry with a target of 24.19 followed by 26.38. Stop is 20.95DMND_JULY_10_2013

Best of luck with all of your trades and positions!

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.