Picks
for January 12, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
CSCO
|
$24.89
|
$24.78
|
$26.00
|
|
DELL
|
$15.00
|
$14.92
|
$16.00
|
|
GILD
|
$45.15
|
$45.04
|
$47.00
|
|
YHOO
|
$16.83
|
$16.73
|
$18.00
|
CSCO RESISTANCE LEVEL - $24.89
CSCO did break to new highs on Monday, but the
stock pulled back with the weak NASDAQ Market.
We like how the stock is holding up above its 10-day moving average,
which is a bullish sign of support. We
are watching CSCO again on Tuesday and are buyers once the stock breaks through
Monday’s high of $24.89. Keep watching CSCO
for this possible new upside move.
DELL RESISTANCE LEVEL - $15.00
DELL keep teasing us with these
small moves, but the big one is coming soon.
DELL broke out of its channel to hit a high of $15.00 on Monday, which
is resistance for this next upside move.
If DELL can break through this high, we expect to see a move with heavy
volume. Keep DELL on your radar again
for Tuesday.
GILD RESISTANCE LEVEL - $45.15
GILD has been
trading in a consolidation range over the past three trading sessions, but
could make an upside move soon. The stock broke out last week and the stock has
held up very well over the past three days, which leads us to believe there is
another move coming soon. The high of
this range is $45.15, which is resistance for this breakout move. GILD will move very quickly and can be too
volatile for many traders. This is the
type of stock that we would recommend that most traders cut their share size
when they trade this stock.
YHOO RESISTANCE LEVEL - $16.83
YHOO traded
slightly higher on Monday, one day after bouncing off support. The stock looks like it wants to move higher
as it closed near highs of the day on Monday.
Resistance for this next move is $16.83, which reflects Monday’s high of
the day. We are buyers of YHOO for this
move and expect to see traders push it higher.
YHOO can be a good trading stock, so watch it closely on Tuesday.
STOCKS
FROM JANUARY 11, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
AMAT
|
NT
|
|
|
|
|
CSCO
|
NT
|
|
|
|
|
DELL
|
NT
|
|
|
|
|
NTAP
|
NT
|
|
|
|
|
PAYX
|
$31.76
|
$31.84
|
$80
|
.25%
|
|
|
|
|
|
|
|
Today
|
|
|
$80
|
.25%
|
|
Month-to-Date P/L January 2010
|
|
|
$90
|
(.24)%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$90
|
(.24)%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
AMAT – No trade. Stock gapped above resistance, hitting highs
of the day within first few minutes of the morning.
CSCO– No trade. Stock broke resistance within the first 20
minutes of the trading day, hitting highs of the day at this time.
DELL
– No trade. Stock broke resistance at the open and made highs
of the day within the first few minutes of the morning.
NTAP
– No trade. Stock broke resistance at
the open and made highs of the day within the first few minutes of the morning.
PAYX
– PAYX broke resistance at the open, hitting a high of $31.75. The stock held up most of the day and found
buyers later in the day. The stock took
off around 3:25PM EST, which is when we entered this trade. This move was on heavy volume, but was very
volatile. The stock broke out and ran up to $31.82 and then right back down to
$31.75. We liked the heavy volume, which is why we sat in this trade until a
few minutes before the closing bell. The
stock held up during this time and took off again at about 3:42PM EST. The stock ran up to $31.87 and we sold as it
started to pull back. We normally don’t like
trading this late in the day, but we did enter this trade before the last 30
minutes of the day and the spikes were all on heavy volume.
