Picks
for January 8, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
COCO
|
$14.23
|
$13.13
|
$17.00
|
|
DELL
|
$14.80
|
$14.71
|
$16.00
|
|
JNPR
|
$26.18
|
$28.08
|
$28.00
|
|
LLTC
|
$30.58
|
$30.48
|
$33.00
|
|
NVDA
|
$18.96
|
$18.87
|
$21.00
|
COCO RESISTANCE LEVEL - $14.23
We are watching
COCO on Friday as the stock is nearing the top of its channel. This channel has a high of $14.23, set back
on December 16th. We are
buyers of the stock once it breaks through this high and expect to see a quick
upside move. COCO can be volatile, so
watch it closely throughout the day on Friday.
DELL RESISTANCE LEVEL - $14.80
DELL continues to trade in a
tight range and looks like it wants to make an upside move soon. The stock is back at the bottom of this
range, but could make a move on Friday.
We are using Thursday’s high of $14.80 as resistance, which is below the
range high. If DELL gaps above or breaks
through this level early in the morning, we will wait for the stock to break
through range high of $14.94 to enter the trade. Keep DELL on your radar for Friday.
JNPR RESISTANCE LEVEL - $26.18
JNPR tried to break down on Thursday, but buyers
came in to support the stock. The stock
ended the day slightly higher and could make a bigger upside move on Friday. We are buyers of JNPR for this reversal move
and expect to see an increase in volume once the stock breaks through Thursday’s
high of $26.18. There is a good chance
the stock will trade through this level during the first 20 minutes of the
trading day. If this does occur, use our
rules and wait until after 10am EST and look to buy if the stock consolidates and
breaks out to new highs after this later time.
LLTC RESISTANCE LEVEL - $30.58
LLTC pulled back
down to the $30.00 range, where the stock found support and ended the day up a
few cents. The stock looks like it wants
to move back to the top of its range and could start this move on Friday. We are buyers of LLTC once the stock breaks
through Thursday’s high of $30.58. LLTC
can move quickly, so watch the stock closely on Friday.
NVDA RESISTANCE LEVEL - $18.96
NVDA pulled back on
Thursday, but is sitting in its tight trading channel. The stock is holding strong and should make
another move soon. Resistance stays at
$18.96, which reflects Tuesday’s high and 52-week highs as well. You want to watch NVDA closely because this
stock can move quickly as it nears and breaks resistance.
STOCKS
FROM JANUARY 7, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
NVDA
|
NT
|
|
|
|
|
ONNN
|
NT
|
|
|
|
|
PALM
|
$11.40
|
$11.37
|
$(30)
|
(.26)%
|
|
SQNM
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$(30)
|
(.26)%
|
|
Month-to-Date P/L January 2010
|
|
|
$(130)
|
(.94)%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$(130)
|
(.94)%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
NVDA – No trade. Stock did hit resistance.
ONNN
– No trade. Stock broke resistance early in the morning,
hitting highs of the day at this time.
PALM
– PALM broke resistance early in the morning, hitting a high of $11.39 twice
within the first 20 minutes of the morning.
We bought PALM when it hit $11.40, and then watched it drop straight
down to $11.31. We sat in the trade and
it bounced back up to $11.40, where it traded in a tight range. The stock finally broke through, but was not
able to generate any momentum, stalling at $11.41. We held on until the stock
finally broke the bottom of this tight range and we sold at $11.37 for a small
loser.
SQNM
– No trade. Stock hit resistance early
in the morning and then broke it during the lunch hour.
