Picks
for October 30, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
CMCSA
|
$15.13
|
$15.03
|
$17.00
|
|
MSFT
|
$28.41
|
$28.31
|
$30.00
|
|
ORCL
|
$21.50
|
$21.41
|
$23.00
|
|
SNDK
|
$22.38
|
$22.28
|
$25.00
|
CMCSA RESISTANCE LEVEL - $15.13
CMCSA broke
resistance on Thursday, but did not give us the opportunity for a good
trade. We are watching the stock again
on Friday because there is a chance for a bigger move. Resistance for this move is $15.13, which reflects
a three-day high in the stock. You want
to watch CMCSA closely because if the stock can break through this level, we
could see a good upside opportunity.
MSFT RESISTANCE LEVEL - $28.41
We like this MSFT
trade for Friday because the stock is sitting on the lows of its gap from last
Friday. The stock looks to have found
support here and should bounce again on Friday.
We are using Thursday’s high of $28.41 as resistance, and we will buy
MSFT once it breaks through this level.
We like this trade because we are buying near the bottom of the range
and it gives us more upside room to work its way back to the top of its range.
ORCL RESISTANCE LEVEL - $21.50
ORCL moved slightly higher on
Thursday, one day after gapping down.
The stock is sitting right below resistance gap highs of $21.50 and could
break through on Friday. We are buyers
of ORCL once it breaks through this high and expect to see a nice upside
move. ORCL can be a good trading stock
and this could be a good move once it gets going. Keep ORCL on your radar for Friday.
SNDK RESISTANCE LEVEL - $22.38
We are watching
SNDK on Friday as the stock looks to be setting up for an upside move. Resistance for this move is $22.38, which
reflects Thursday’s high and the high of this range. We are buyers of the stock once it breaks
through of this level and we expect to see an increase in volume as traders buy
the stock. SNDK will move quickly, so
watch it closely on Friday.
STOCKS
FROM OCTOBER 29, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CMCSA
|
$14.87
|
$14.84
|
$(30)
|
(.20)%
|
|
DRYS
|
$6.43
|
$6.38
|
$(50)
|
(.78)%
|
|
JASO
|
$3.79
|
$3.97
|
$180
|
4.75%
|
|
ZRAN
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$100
|
3.77%
|
|
Month-to-Date P/L October 2009
|
|
|
$680
|
7.79%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,210
|
55.52%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CMCSA – CMCSA broke resistance
early, hitting a high of $14.86 within the first 20 minutes of the
morning. We bought the stock when it
made new highs, but it stalled at $14.88. We sat through one pullback down to
$14.83 and then a move up to $14.90. The stock would not go higher and we finally
sold at $14.84 when it started to give up.
DRYS – Stock opened above resistance at $6.42, which
became resistance for the next upside move.
The stock broke highs just after 11am EST, which is where we entered the
trade. The stock stalled at $6.44 and
started to drop. We took a quick loss at
$6.38. Normally we would give a trade a
little more breathing room, but the way the stock broke resistance and started
to drop and it was nearing the lunch hour, made us get out quicker than normal.
JASO
– This was a perfect trade for us on Friday.
JASO broke to highs, jigged around for a few minutes, then moved up to
$3.86. The stock sat in a tight range
near the lunch hour. We were watching it
closely, looking for a reason to sell, but it started moving higher again. We held on as the stock slowly moved up to
$4.00 around 12:30pm EST. We finally
sold at $3.97 when the stock did not want to break through the whole
number. We do not like holding positions
into and during the lunch hour, but JASO never gave us a reason to exit this
trade.
ZRAN
– No trade. Stock did not break resistance.
