Tuesday, January 29, 2013

Daily Analysis and Stock Ideas for 1/30/2013

Daily Analysis -
Market continued to move higher today again on low volume following the overall trend last few days. We opened lower but immediately turned green on SPY and continued higher for rest of the day. We hit the next resistance level of 150.70 that I had given out, which is also where we close the day. Tomorrow may be the volume day for the market with FOMC statement on interest rates. Lets watch it closely.

SPY levels
Resistance - 151.60
Support - 150.70, 150.20, 149.60, 148.42, 147.40, 146.30, 146, 145.60, 144.50, 144, 143.06

Short - RKUS, OPEN

  • JCP finally got the spike. It closed the day up +9%. I closed 1/3 of my long position at 21. Looking for a move towards $23 level with stop just under $20.
  • KSS also continues to move steadily. I really like it over $46 range where it has huge gap fill.
  • My short term trade on YPF worked out well as well. Closed the day at +11%.
  • RKUS short worked well. Covered 1/2 this morning for +1.35 from 24.50. 
  • OPEN short holding for a loss from 54.90. Stop at $56.
  • Took RIMM long at 15.25 on the bounce. Have a had good luck with the stock so fingers crossed.
  • Got stopped out on GMCR today at 43.80 level. Closed the trade for $2+ gains. 
  • Closed TSLA trade for +$4 gains. I think this may have more upside but waiting for some consolidation.

Sectors to watch -
Financials - Still look to be in digestion mode.
Techs - Bounce on AAPL today. FB and LNKD looked really strong.
Retail -Mixed bag.
Semi's - Watching SWKS, QCOM and BRCM

Trade Ideas -
Still like PANL and SIMO from yesterday. Here are some trade ideas for tomorrow.

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