Picks
for October 28, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
DELL
|
$15.45
|
$15.34
|
$18.00
|
|
INTU
|
$30.43
|
$30.32
|
$33.00
|
|
JASO
|
$ 3.85
|
$ 3.76
|
$ 5.00
|
|
YHOO
|
$16.87
|
$16.77
|
$18.00
|
DELL RESISTANCE LEVEL - $15.45
DELL is sitting on
its 10 day moving average line, and could bounce very soon. The stock held up well on Tuesday, closing
slightly lower on the day. We are
watching DELL closely on Wednesday and are buyers once the stock breaks through
Tuesday’s high of $15.45. If the stock
can break through this high, we should see volume push it higher. DELL can be a good trading stock, so watch it
closely on Wednesday.
INTU RESISTANCE LEVEL - $30.43
INTU closed flat on
Tuesday, while the NASDAQ closed negative on the day. We like that the stock held up on the day and
it tells us to keep watching for an upside move. We like the support INTU had on Monday and
Tuesday, which is why we are watching it again on Wednesday. Resistance is $30.43, which reflects Monday’s
high of the day. If the market can turn
around, INTU should make a stronger upside move.
JASO RESISTANCE LEVEL - $3.85
JASO bounced off its 200 day
moving average on Tuesday and could bounce again on Wednesday. It is a positive sign that the stock held up
at this average and how it closed on highs of the day. We are watching JASO closely on Wednesday and
are buyers once the stock breaks through Monday’s high of $3.85. If the stock can break through this high we
should see a reversal move. Keep a close
eye on JASO for Wednesday’s trading day.
YHOO RESISTANCE LEVEL - $16.87
YHOO bounced off
support on Tuesday, which is why we are watching the stock on Wednesday. The stock closed slightly lower on Tuesday,
after bouncing off lows. If YHOO can
break through Tuesday’s high of $16.87, we should see a reversal as the stock
turns higher. This might be a volatile
trade, which means we will watch YHOO closely and use a tight stop if it cannot
hold up on this move.
STOCKS
FROM OCTOBER 27, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
IACI
|
NT
|
|
|
|
|
INTU
|
NT
|
|
|
|
|
NVAX
|
NT
|
|
|
|
|
SNDK
|
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
IACI – No trade. Stock gapped above resistance, pulled back
and made new highs before 10am EST.
INTU – No trade.
Stock did not break resistance.
NVAX
– No trade. Stock did not break
resistance.
SNDK
– No trade. Stock did not break
resistance.
