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

Holdings
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.

Daily Analysis and Stock Ideas for 2/6/2013

Daily Analysis -
Hard to be bearish after today's action. We recouped all the losses from Monday's session and then got some before reversing a little to close the day. I must admit the sharp direction movement in the markets last couple days got me. I closed some trades yesterday expecting some more downside yet market opened sharply higher and remained very strong throughout the day.

SPY levels
Resistance - 150.20, 151.4, 152.35
Support - 149.60, 148.42, 147.40, 146.30, 146, 145.60, 144.50, 144, 143.06

Holdings
Long -  JCP (1/3),  TNGO, YPF, NVDA, VALE, ARNA
Short - RKUS
Added -FDO for my IRA account.
Closed - OPEN covered at 51.05 for $2.85 gains. May have more downside but no point fighting the tape.

• JCP after opening lower moved higher. Was up over 5% at some point. I closed my second 1/3 position at 20.45. Still holding 1/3. Don't like the volatility in this stock. Will add over 21.12 if it gets there.
• TNGO VALE YPF all ended in red. Not a good sign. Time to reevaluate the positions.
• NVDA showed some strength.
• Did a few day trades on RIG, BIDU and UNXL.

Sectors to watch -
Pretty broad based rally today. Techs stood out with GOOG and AAPL acting very strong.  Financials weren't far behind either led by JPM.

Trade Ideas -

ESL - Nice bull flag
SM - Nice bull flag.  Long over today's highs.
UNXL - WIll go long again over 15.85.