Picks
for October 16, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
HBAN
|
$ 4.77
|
$ 4.67
|
$ 6.00
|
|
JNPR
|
$27.39
|
$27.28
|
$30.00
|
|
MGM
|
$12.19
|
$12.08
|
$14.00
|
|
SBUX
|
$20.73
|
$20.63
|
$23.00
|
FRIDAY IS OPTIONS EXPIRATION AND WILL BE
VOLATILE AFTER THE LUNCH HOUR. WE WILL
TRADE
THESE PICKS UNTIL 11AM EST. IF YOU
TRADE AFTER THE LUNCH HOUR, BE AWARE THAT IT CAN
GET SLOPPY THE LAST 90 MINUTES OF THE DAY.
HBAN RESISTANCE LEVEL - $4.77
HBAN took off late in the
day to close on highs of $4.77. These
highs are resistance for Friday’s continuation move. We are buyers of HBAN once it breaks through
these highs. There is a chance HBAN will
gap above or trade through resistance within the first 20 minutes of the
morning. If this occurs, use our trading
rules before buying the stock.
JNPR RESISTANCE LEVEL - $27.39
JNPR is sitting on support
and could make a move on Friday. We are
watching the stock closely and are buyers once it breaks through Thursday’s
high of $27.39. If JNPR can break this
level, we should see a strong upside move.
JNPR will move quickly, so watch it closely Friday morning.
MGM RESISTANCE LEVEL - $12.19
MGM rallied the last hour
of the day on Thursday to end slightly negative on the day. Good news was announced, which is why the
stock ran. We are watching MGM on Friday
and are buyers once it breaks through Wednesday’s high of $12.19. MGM can be a good trading stock, but it can be
very volatile. The stock will bounce
around, which is why novice traders should cut their share size if they do not
want this much volatility.
SBUX RESISTANCE LEVEL - $20.73
SBUX has traded in a tight
range the past two days, but could make a move soon. The two-day high is $20.73, which is
resistance for Friday’s upside move. We
are buyers of SBUX once it breaks this high and expect to see good upside
potential. Keep a close eye on SBUX for
Friday.
STOCKS FROM OCTOBER 15, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
BRCM
|
NT
|
|
|
|
|
JBLU
|
NT
|
|
|
|
|
PAYX
|
NT
|
|
|
|
|
YHOO
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date
P/L October 2009
|
|
|
$40
|
.49%
|
|
|
|
|
|
|
|
Year-to-Date
P/L
|
|
|
$7,570
|
48.22%
|
*Percentages are based on Percent Gained/Lost
per Trade accumulatively
BRCM – No trade. Stock did not break resistance.
JBLU – No trade.
Stock did not break resistance.
PAYX
– No trade. Stock broke resistance
within the first 15 minutes of the morning, hitting highs of the day at this
time.
YHOO
– No trade. Stock did not break
resistance.
