Picks
for November 2, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
CHKP
|
$31.46
|
$31.36
|
$34.00
|
|
INCY
|
$ 6.02
|
$ 5.92
|
$ 7.00
|
|
SYMC
|
$17.83
|
$17.73
|
$20.00
|
THERE ISNT MUCH OUT THERE ON THE LONG SIDE FOR
MONDAY. THE SELL-OFF ON FRIDAY HAS THE
MARKET SPOOKED SO BE CAREFUL WITH YOUR TRADING.
WE FOUND 3 PICKS FOR MONDAY’S TRADING DAY. GOOD LUCK AND BE CAREFUL.
CHKP RESISTANCE LEVEL - $31.46
CHKP tried to move
higher, but when the market sold off, the stock dropped as well. Overall CHKP hung on pretty well, only
dropping $.26 on the day. We are
watching the stock on Monday to see if the buyers come back to push the stock
higher. Resistance is $31.46, which is a
3-day range high. Keep a close eye on
CHKP because it will move quickly once it nears resistance.
INCY RESISTANCE LEVEL - $6.02
INCY looks to be
setting up for an upside which and it could happen very soon. If you look at the daily chart, you will see
how the trading range has been decreasing the past few days, while the stock is
trading near the top of this range. This
tells us to watch for this upcoming move.
We are using Thursday’s high of $6.02 as resistance for Monday’s move. Keep a close eye on INCY throughout the day
on Monday.
SYMC RESISTANCE LEVEL - $17.83
SYMC broke through its gap high
on Friday, but was not able to hold on as the market sold off. The stock hit a new high on Friday, but
closed below the gap high from Thursday.
Since the stock closed below the gap high of $17.83, we are using this
high as resistance for Monday’s move. If SYMC gaps above or trades through this
level during the first 20 minutes of the morning, we will wait until it breaks
Friday’s high of $18.00 before entering this trade. Keep SYMC on your radar for Monday’s trading
sessions.
STOCKS
FROM OCTOBER 30, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CMCSA
|
NT
|
|
|
|
|
MSFT
|
NT
|
|
|
|
|
ORCL
|
$21.51
|
$21.57
|
$60
|
.28%
|
|
SNDK
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$60
|
4.05%
|
|
Month-to-Date P/L October 2009
|
|
|
$740
|
8.07%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,270
|
55.80%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CMCSA – No trade. Stock did not break resistance.
MSFT
– No trade.
Stock did not break resistance.
ORCL – ORCL broke resistance after 10am EST, which
is where we entered this trade. The
stock slowly climbed up to $21.59, which is when the market started to
drop. We sold at $21.57 for a quick
profit because we did not want to hold any positions as the market started to
fall apart.
SNDK – No trade. Stock opened above resistance, hitting highs
of the day at this time.
