Thursday, December 13, 2012

Daily Analysis and Stock Ideas for 12/14/2012

Daily AnalysisSo we got the pullback as I expected. We held support at 142.25 level and bounced back late in the day. This pullback so far looks very healthy. Expect choppy market for next few trading days. Find the stocks that you want to buy and hold for a long term, and pick them on the dips. Hopefully we should be embarking on a longer rally soon. Note, all bets are off if we close below 139 (3% below the high of 144.55 yesterday. I'm expecting a nice bounce coming into AAPL as well, don't think we see new lows this year, but time will tell.

PAY announced earnings afterhours. Earnings were inline but revs were light. Seems like my lottery play on $38 Dec options is going to expire worthless. Well, it was mostly from the profits from trading PAY earlier in the week.

SPY support or resistance levels.
SPY resistance -   143.09, 143.55, 144.49. Watch the purple trendline.
SPY support -  142.25, 141.68, 140.40 139.05, 138.50, 137.55, 136.66

Sector watch -
Most sectors were weak today. The only notable one that stands out is Semis which were one of the weakest. Watch for bounce off the 200SMA on SMH.

Trades today -
Added long term positions on C and BRKB
Closed TNGO and TSLA (~ 30% gain)
Day trade in AAPL (lost $2),
GOOG (Holding swing at 702)
CIEN (swing at 15.65)
SHLD (swing at 42.40)

Swing Trade update -
YHOO -Full position.
CLF - April 30 options.
YOKU - 1/2 pos from 14.17
LULU - Holding

Trade ideas: -
Two quite different setups today. One trading at 52 week highs and one at all time lows.
GPOR - Looking set for a b/o
EGLE - All time lows. Peak in 2007-2008 was 120s, now trading at 1.78. I'm interested in swinging this into next year with a wide stop.

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