Picks
for January 7, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
NVDA
|
$18.96
|
$18.87
|
$21.00
|
|
ONNN
|
$ 9.03
|
$ 8.96
|
$11.00
|
|
PALM
|
$11.35
|
$11.23
|
$14.00
|
|
SQNM
|
$ 4.60
|
$ 4.52
|
$ 6.00
|
NVDA RESISTANCE LEVEL - $18.96
NVDA closed
slightly higher on Wednesday, but was not able to hit resistance. The stock is holding strong and should make
another move soon. Resistance stays at
$18.96, which reflects Tuesday’s high and 52-week highs as well. You want to watch NVDA closely because this
stock can move quickly as it nears and breaks resistance.
ONNN RESISTANCE LEVEL - $9.03
ONNN is setting up for a
breakout move, which could occur on Thursday.
The stock closed slightly higher on Wednesday as it nears the range high
of $9.03. We are buyers of ONNN if it
breaks this range high after the first 20 minutes of the trading day. If the stock gaps above or trades through
this high, we need to wait for it to break 52-week highs of $9.12, which were
set in September. ONNN can be a fast
moving stock, so watch it closely on Thursday.
PALM RESISTANCE LEVEL - $11.35
PALM ended Wednesday with a surge in buying as the
stock closed near highs of the day. The stock
hit a high of $11.35, which is resistance for Thursday’s continuation
move. We are buyers of PALM once the
stock breaks through this high. The stock
traded up on good news on Wednesday, which could lead to this continuation
move. Keep PALM on your radar for
Thursday’s trading day.
SQNM RESISTANCE LEVEL - $4.60
We are watching
SQNM on Thursday as the stock looks ready for a breakout move. SQNM hit a high of $4.60 on Tuesday, which is
resistance for this upcoming move. We
are buyers of SQNM once it breaks through this high and expect to see volume
push it higher. We will watch SQNM
closely because this is a stock that will explode with volume as it breaks
through resistance. If SQNM does break
resistance, we will look to take profits as the momentum stalls.
STOCKS
FROM JANUARY 6, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
DELL
|
NT
|
|
|
|
|
JASO
|
NT
|
|
|
|
|
MSFT
|
NT
|
|
|
|
|
NVDA
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date P/L January 2010
|
|
|
$(100)
|
(.68)%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$(100)
|
(.68)%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
DELL – No trade. Stock did hit resistance.
JASO
– No trade. Stock broke resistance early in the morning,
hitting highs of the day at this time.
MSFT
– No trade. Stock did not hit resistance.
NVDA
– No trade. Stock did not hit
resistance.
