Picks
for December 3, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ALTR
|
$22.28
|
$22.18
|
$25.00
|
|
CSCO
|
$24.11
|
$24.02
|
$26.00
|
|
ORCL
|
$22.75
|
$22.64
|
$24.00
|
|
SQNM
|
$ 4.53
|
$ 4.43
|
$ 6.00
|
ALTR RESISTANCE LEVEL - $22.28
ALTR gapped higher
on Tuesday, hitting a high of $22.28 on the day. The stock consolidated on Wednesday, but
looks to be setting up for a breakout move soon. We are buyers of ALTR once it breaks through
Tuesday’s high and expect to see a fast upside move. We will watch the stock very closely because the
stock will move quickly once it nears and breaks resistance.
CSCO RESISTANCE LEVEL - $24.11
CSCO is setting up to test
range highs of $24.11. This move could
occur on Thursday and we are going to be watching for this upside move. We are
buyers of CSCO once it breaks through this high and expect to see volume push
it higher. CSCO is not a stock that will
shoot straight up, but it will give us a nice trending move. Keep CSCO on your radar again for Thursday’s
trading day.
ORCL RESISTANCE LEVEL - $22.75
ORCL set new range
highs on Wednesday, which could the start of a bigger move. Wednesday’s high of $22.75 is resistance for
Thursday’s follow through move. If ORCL
can break through this high, we should see a move up to 2009 highs near
$23.00. Expect to see profit taking at
this high, but keep watching for another move to new highs.
SQNM RESISTANCE LEVEL - $4.53
SQNM is setting up
for an upside move and it could happen on Thursday. This can be a great trading stock, but you
have to watch it closely throughout the day, watching for the breakout
move. The stock has breakout range
resistance at $4.53, which is where we are looking to enter this trade. Once SQNM breaks resistance, the stock will
take off like a rocket. We will be
watching it closely because we do not want to miss out on this trade.
STOCKS
FROM DECEMBER 2, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CSCO
|
NT
|
|
|
|
|
ERTS
|
NT
|
|
|
|
|
MYGN
|
NT
|
|
|
|
|
PAYX
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date P/L December 2009
|
|
|
$140
|
.49
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,480
|
57.13%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CSCO – No trade. Stock did not break resistance.
ERTS – No trade. Stock broke resistance early in the morning,
hitting highs of the day at this time.
MYGN–
No trade. Stock broke resistance early in the morning and then made new highs
before 10am. For this site we do not
make the trade when it makes highs twice within the first 30 minutes. If you were watching MYGN, you should have
made this trade!! The stock broke highs
by three cents early in the morning, pulled back and then took off once it made
new highs around 9:50am EST. We have to
follow our set rules, but as a trader you need to know there are times a trade
should be made because of the way it is trading.
PAYX
– No trade. Stock broke resistance
early, pulled back for a few minutes, and then ran straight up for 30+ minutes.
The moves started too early in the morning for us to make this trade.
