Picks
for December 7, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ALTR
|
$22.32
|
$22.22
|
$25.00
|
|
BRCM
|
$31.20
|
$31.11
|
$34.00
|
|
CHKP
|
$33.24
|
$33.14
|
$35.00
|
|
INCY
|
$ 8.40
|
$ 8.31
|
$10.00
|
ALTR RESISTANCE LEVEL - $22.32
ALTR broke gap
highs on Friday, but pulled back to close slightly higher on the day. The stock hit a high of $22.32 on Friday,
which is resistance for the breakout move.
We are buyers of ALTR once it breaks through this high and we expect to
see a strong high volume push. We will
watch ALTR very closely on Monday because the stock will move quickly as it
nears and breaks resistance.
BRCM RESISTANCE LEVEL - $31.20
We are watching BRCM closely on
Monday as the stock nears breaking to new 2009 highs. The stock hit a high of $31.20 on September
23, which is the 2009 high. There is a
lot of resistance around this level, which should give the stock a bigger push
once it breaks through to new highs.
There looks to be good upside in this trade, and we will be watching it
throughout the day on Monday.
CHKP RESISTANCE LEVEL - $33.24
CHKP is sitting
below 2009 highs and could make a breakout move soon. Resistance for this move is $33.24, which is
where we are buyers of the stock. There
is a lot of resistance here and we expect to see an increase in volume once the
stock breaks through this high. Keep CHKP
on your radar for Monday’s trading day.
INCY RESISTANCE LEVEL - $8.40
INCY has a very
interesting daily chart, telling us to watch this stock closely for an upcoming
move. The stock has consolidated on its
10 day moving average, finding support at this level the past few days. If INCY can break through Friday’s high of
$8.40, we should have a reversal move as traders jump on board. You want to watch INCY very closely on Monday
because the stock will move quickly and there could be good upside potential in
this trade.
STOCKS
FROM DECEMBER 4, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CMCSA
|
NT
|
|
|
|
|
CSCO
|
NT
|
|
|
|
|
ENER
|
NT
|
|
|
|
|
QLGC
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date P/L December 2009
|
|
|
$220
|
1.55%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,560
|
58.19%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CMCSA – No trade. Stock gapped above resistance to highs of the
day.
CSCO – No trade. Stock broke resistance early in the morning, pulled
back for a few then made new highs again, all before 10am EST.
ENER
– No trade. Stock did not break
resistance.
QLGC
– No trade. Stock broke resistance and hit highs of the day within the first 20
minutes of the morning.
