Tuesday, February 19, 2013

Daily Analysis and Stock Ideas for 2/20/2013

Daily Analysis -
Markets continue to move higher. Nice move on all the indexes on merger news this morning. Move was strong even though the housing data wasn't as promising and overnight the Asian markets saw some declines. Seems like market wants to continue to make new highs for now. Lot of good looking setups still, so i guess it may be a good idea to keep playing them till they stop working. I do have some positions in VXX now which i opened at 22.37 and added today at 21.10.

SPY levels
Resistance - 154.65, 155.20 
Support - 152.60, 151.40, 150.40, 149.60, 148.42, 147.40, 146.30, 146, 145.60, 144.50, 144, 143.06

Long -  YPF, ARNA, MHP
Added - 
Closed - NTES, MENT
  • Took profits early in the day on both NTES and MENT
  • Scalped HLF long from 39. Closed 1/2 at 39.95 and second 1/2 at 40.25
  • Scalped MM short from 14.48 to 14.31. It dropped like a rock on earnings A/H.

New Trade Ideas
Some of the setups from last night worked out very well - INFI was on fire today. BMRN had a nice open as well but gave up some of the gains. NTES and MENT worked well as well.

Here are some more setups to watch tomorrow.

No comments:

Post a Comment