Sunday, December 2, 2012

Daily Analysis and Stock Ideas for 12/03/2012

Daily Analysis -
Friday afternoon action looked very interesting. We finished higher after bounce off support 3 times. SPY 141.68 is acting as strong support right now and we're right under the 50sma. If we can break the 50sma we can go to 143.09. I think its likely we see that level in a day or two. Internet stocks are behaving really well, led by GOOG, AMZN and FB. AAPL is still resting. I think Tech lead us little higher for now. Little concerned about Commodities now after a selloff on Friday. Dollar is trying to find a direction as well.

SPY Levels
SPY resistance - , 142.25 142.75 (gap-fill), 143.09, 143.55, 144.40
SPY support - 141.68, 140.20 139.05, 138.50, 137.55, 136.66

Sector Watch - 
Technology - GOOG, AAPL to watch out for next week. FB and AMZN look a little overextended.
Financials - Look for JPM and GS for direction.
Homebuilders - Showing some signs of reversal. They have been leaders all of 2012.

Trades - 
BIDU stopped out at 97.50 (+5.60)
PETM - Closed at 70 (+.25), but it headed higher. Looks good.
NFLX - Entered long at 80.40. Nice run to end the day. Moving stop to b/e
CIEN - Entered long at 15.10. Chart still looks good. Lot of upside if we can have a clean break over Friday highs. Using Friday lows of 14.58 as stop now.
AAP - Entered short at 73.25 and got stopped out at 73.75 (loss of 0.50). I think it breaks below 73. Will look to reenter.
ESRX - Entered long at 53.75.
SHLD - Entered 1/2 pos long at 41.65. Stop 40.
YOKU - Entered long at 17.20. Had a nice run in the morning but faded back all day. Should've taken profits over 18 :(

Swing Trade Update
TNGO - Still holding long. It needs to break 13.43 area.
FB - Continued higher. Its had a amazing run last few days. Looking for some weakness to close my second 1/2.
AAPL 1/2 pos from 513, Nice to see it recovered early morning losses. Still holding and expecting 600 level soon.
AAPL also entered long at 590. Holding long with 572 stop.
TSLA - Still holding 1/2.
FSLR - Holding.
YHOO - Sold second 1/2
SRPT - Entry at 29.70.
SWKS - Holding. First target is 23.15. Second target 24.

Update from previous posts -
LGND - Looking for entry if it drops to 19 level.
MLNX short idea looked good. Target 67.
QCOM - Looks set for 65 target.
EBR - 15% gain on a day. Got stopped out on this one of Thursday. Should've kept an eye on this one. Looks set for 4.20 level.

Long Trade Ideas - 
GMCR - Over 37.25 could get is to 40s soon. Lot of short covering needs to happen. Very similar to ANF.
MAIN - Looks ready for a breakout over 31.
DWRE - Back on the radar. Huge volume on Friday. Moves higher now.
LNKD - Could be interesting here. Use 105 as stop.

No comments:

Post a Comment