Wednesday, February 6, 2013

Daily Analysis and Stock Ideas for 2/7/2013

Daily Analysis -
Choppy digestion day today after two crazy days to start the week. We gapped down in the morning but quickly came back to test resistance level from yesterday before pulling back. The market needs to settle down a little bit to give more confidence in trading the pattern. All 3 charts I gave out yesterday worked out well though. I only played UNXL for quick 50c profit.

SPY levels
Resistance -  151.40, 152.35
Support - 150.40, 149.60, 148.42, 147.40, 146.30, 146, 145.60, 144.50, 144, 143.06

Long -  JCP (1/3),  TNGO, YPF, NVDA, VALE, ARNA
Short - RKUS
Added - MHP to IRA account.
Closed - RKUS covered at 21.20 for nice $3.30 gains. Will look to reenter short if it bounces.

  • Nice move in TNGO today. Back over $15.
  • VALE bounced back.
  • Day trade in MM from 11.10 to 11.50. Holding 1/2 position overnight.
  • Added back GMCR at 43.50 in afterhours. Strong earnings but pulled back. Risky trade with stops at 39 support level.

Chart review
ESL -Gave couple a nice entries in this choppy market. Look for continuation.
SM -  Could've been a nice winner with nice candle at 10:10 EST. Missed it. Chart still looks good.
UNXL - Moved fast. Entered at 16.20 and closed at 16.65.

New Trade Ideas
CENX - Nice volume today. Watch for continuation.
INVN - Looks good over $15.
PKG - Watch for move over $40.
SHLD - Could quickly move to 200SMA.

No comments:

Post a Comment