Picks
for October 26, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
BRCM
|
$28.90
|
$28.78
|
$31.00
|
|
INTU
|
$30.33
|
$30.22
|
$33.00
|
|
NTAP
|
$29.35
|
$29.24
|
$32.00
|
|
TTWO
|
$12.02
|
$11.93
|
$14.00
|
BRCM RESISTANCE LEVEL - $28.90
BRCM downside gap on Friday
was due to their earnings report after the close on Thursday. The stock tried to drop further, but buyers
came in to stop the stock from dropping further. BRCM did close negative on the day, but it
was able to close closer to highs then lows.
Friday’s high of $28.90 is resistance for a possible upside bounce on
Monday. If BRCM can break through
Friday’s high, we should see buying push the stock higher. There is a chance that BRCM won’t hold up and
will sell-off on Monday, but it’s worth watching in case the buyers come back
and want to buy the stock at a discount.
INTU RESISTANCE LEVEL - $30.33
INTU tried to break to the
upside on Friday, but the weak overall market, pulled the stock down the
day. Overall, INTU held up well as it
was only down $.40 on the day. We are
watching the stock on Monday for a possible move back through Friday’s high of
$30.33. If INTU can break through this
high, we should see a fast upside move.
Keep a close eye on INTU for Monday’s trading day.
NTAP RESISTANCE LEVEL - $29.35
NTAP broke resistance on Friday, but it
was early in the trading day and sold off when the market dropped. The stock hit a high of $29.35, which is new
resistance for the next upside move.
NTAP is not too far off this level, which is why we are watching it closely
on Monday. We are buyers of the stock
once it breaks through Friday’s high for this move. Watch NTAP closely throughout the day on
Monday.
TTWO RESISTANCE LEVEL - $12.02
TTWO was one of the few
winners on Friday as the stock closed up $.73 on the day. The stock traded very heavy volume for this
move, which is why we want to watch for a continuation move on Monday. The stock hit a high of $12.50 on Friday, but
we are not using that price as resistance for this next move. TTWO closed below $12.00, which allows us to
use a lower resistance to catch the stock at an earlier time. We are using the September 23rd
high of $12.02 as resistance for our buy point.
If TTWO gaps above or trades through this price, we will wait until it
breaks Friday’s high to enter this trade.
Keep TTWO on your radar for Monday.
STOCKS FROM OCTOBER 23, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
NTAP
|
NT
|
|
|
|
|
NVAX
|
NT
|
|
|
|
|
PALM
|
NT
|
|
|
|
|
PAYX
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date
P/L October 2009
|
|
|
$580
|
4.02%
|
|
|
|
|
|
|
|
Year-to-Date
P/L
|
|
|
$8,110
|
51.75%
|
*Percentages are based on Percent Gained/Lost
per Trade accumulatively
NTAP – No trade.
Stock broke resistance within the first few minutes of the morning,
hitting highs of the day at this time.
NVAX
– No trade. Stock did not break resistance.
PALM
– No trade. Stock opened above resistance, hitting highs
of the day at this time.
PAYX – No trade.
Stock did not break resistance.
