Picks
for September 29, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ADSK
|
$24.40
|
$24.28
|
$28.00
|
|
CHKP
|
$28.36
|
$28.26
|
$31.00
|
|
HBAN
|
$ 4.24
|
$ 4.14
|
$ 6.00
|
|
ORCL
|
$21.34
|
$21.23
|
$23.00
|
ADSK RESISTANCE LEVEL - $24.40
ADSK has been in a sideways
channel the past month, but could be setting up for a breakout move. The high of this range is $24.40, which is
our resistance buy point. We are buyers
of ADSK once it breaks through this high and expect to see strong upside
movement. You want to watch ADSK closely
for this move.
CHKP RESISTANCE LEVEL - $28.36
CHKP traded slightly higher
on Monday, but was not able to break through resistance. We still like this stock and will watch it
again on Tuesday. Resistance is now
$28.36, which reflects Friday’s high. We
expect to see a breakout move occur soon.
Keep a close eye on CHKP for Tuesday’s trading day.
HBAN RESISTANCE LEVEL - $4.24
HBAN looks to be setting up
for a bounce, which is why we are watching the stock on Tuesday. We are buyers of HBAN once it breaks through
Friday’s high of $4.24 for this reversal move.
HBAN will move quickly, so watch the stock closely throughout the day on
Tuesday.
ORCL RESISTANCE LEVEL - $21.34
ORCL bounced on Monday and
could make another move on Tuesday. The
stock hit a high of $21.34 on Monday, which is resistance for Tuesday’s follow
through move. If ORCL can break through
Monday’s high, we should see heavy volume push the stock higher. ORCL can be a slow trending stock, but also a
good one to trade. Keep ORCL on your
radar for Tuesday’s trading day.
STOCKS FROM SEPTEMBER 28, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CBAK
|
NT
|
|
|
|
|
CHKP
|
NT
|
|
|
|
|
MCHP
|
NT
|
|
|
|
|
YHOO
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date
P/L September 2009
|
|
|
$740
|
7.65%
|
|
|
|
|
|
|
|
Year-to-Date
P/L
|
|
|
$7,350
|
47.73%
|
*Percentages are based on Percent Gained/Lost
per Trade accumulatively
CBAK – No trade. Stock broke resistance within the first 20
minutes of the day, hitting highs at this time.
CHKP
– No trade. Stock
did not break resistance.
MCHP
– No trade. Stock opened above
resistance, pulled back and then made new highs before 10am EST.
If you continued to watch the stock there were other places to enter this
trade, but for our trading we don’t buy a stock that breaks resistance more
then once within the first 30 minutes.
YHOO
– No trade. Stock broke resistance a few
minutes before the lunch hour. The
overall market volume was low today, which was another reason we did not make
this trade.
