Picks
for December 15, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ALTR
|
$22.64
|
$22.54
|
$24.00
|
|
FEED
|
$ 4.69
|
$ 4.58
|
$ 6.00
|
|
KLAC
|
$36.50
|
$36.38
|
$38.00
|
|
PAYX
|
$32.13
|
$32.03
|
$34.00
|
|
SYMC
|
$17.89
|
$17.78
|
$20.00
|
ALTR RESISTANCE LEVEL - $22.64
After making new
highs last week, ALTR pulled back down to its 10 day moving average. The stock found support at this average, which
is a bullish sign for an upside bounce.
The stock hit a high of $22.64 on Monday, which is resistance for
Tuesday’s follow through move. If ALTR
can break through this high, we should see a strong upside move. ALTR will move quickly, so watch it closely
on Tuesday.
FEED RESISTANCE LEVEL - $4.69
FEED is setting up for an upside move and it
could occur on Tuesday. The stock has
traded in a tight range at support over the past few days. The three-day high of this range is $4.69,
which is resistance for the breakout move.
We are watching FEED closely on Tuesday and are buyers for this breakout
move, but only if there is heavy volume.
FEED can trade low volume, so we need to see real buying before we jump
in. FEED can be volatile as well. For beginning or novice traders that want to
trade stocks like FEED, we would recommend cutting your share size because the
stock will drop quickly once the momentum slows.
KLAC RESISTANCE LEVEL - $36.50
KLAC is setting up for a
breakout move and it could occur very soon.
The stock has traded in a tight range near these highs over the past six
trading days. The high of this range is
$36.50, which is resistance for this breakout move. If KLAC can break through this high, we
expect to see strong volume as traders buy up the stock. You want to keep KLAC on your trading screen throughout
the day on Tuesday.
PAYX RESISTANCE LEVEL - $32.13
PAYX broke
resistance within the first minute on Monday, but pulled back and never tested
the level during the day. We are
watching the stock again on Tuesday for the real breakout move. We are keeping resistance at $32.13 even
though the stock hit a high of $32.25 on the day, because it closed below the
old resistance price. If PAYX breaks
through this level early in the morning, we will wait until it breaks through
$32.25 for the next leg up. Keep PAYX on
your radar for Tuesday.
SYMC RESISTANCE LEVEL - $17.89
We are watching
SYMC on Tuesday, waiting for the stock to break through the three-day range
high of $17.89. We believe that once
SYMC breaks through this high, we will see a strong move as traders jump on
board. You want to watch SYMC closely
because there could be good upside potential in this trade.
STOCKS
FROM DECEMBER 14, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
ISIL
|
NT
|
|
|
|
|
PAYX
|
NT
|
|
|
|
|
SBUX
|
NT
|
|
|
|
|
WIN
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date P/L December 2009
|
|
|
$380
|
2.36%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$8,730
|
59.00%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
ISIL – No trade. Stock gapped open above resistance, hitting
highs of the day within the first few minutes of the morning.
PAYX
– No trade. Stock broke
resistance and hit highs during the first minute of the morning.
SBUX
– No trade. Stock broke resistance and
made new highs 3 times within the first 30 minutes of the morning. If you continued to watch SBUX there was a
bigger move later in the day.
WIN
– No trade. Stock broke resistance just
after the open, hitting highs of the day within the first few minutes of the
morning.
