Picks
for January 13, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
BRCD
|
$ 7.99
|
$ 7.89
|
$ 9.00
|
|
DELL
|
$15.20
|
$15.11
|
$16.50
|
|
GILD
|
$45.15
|
$45.04
|
$47.00
|
|
INTU
|
$31.41
|
$31.31
|
$33.50
|
BRCD RESISTANCE LEVEL - $7.99
BRCD stalled at $7.99, which is the third time
this month, making this a triple-top resistance level. This is a key level for the stock and it
could make a big move if it can break through this high. Usually when a stock breaks through a
triple-top the upside move is accompanied by heavy volume. On the opposite side, if the stock cannot
break through this top on the next test, you normally see a sell-off as traders
dump their shares. We are watching BRCD
for a breakout move, but if the stock does not break through there could be a
shorting opportunity. Keep BRCD on your
radar for Wednesday.
DELL RESISTANCE LEVEL - $15.20
DELL broke through resistance
on Tuesday, but the weak overall market held the stock back from the move we expected
to see. We are watching DELL again on
Wednesday and are buyers once it breaks through Tuesdays high of $15.20. If the market is stronger and DELL makes this
move, we should see a strong upside move.
Watch DELL again on Wednesday.
GILD RESISTANCE LEVEL - $45.15
GILD has been
trading in a consolidation range over the past four 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 four 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.
INTU RESISTANCE LEVEL - $31.41
INTU ended flat on
Tuesday, but the stock is setting up for an upside move. The stock has stalled at $31.41 the past two
days, giving us a firm resistance level to watch. If INTU can break through this level, we
expect to see heavy volume push the stock higher. INTU will move quickly and can be a volatile
stock to trade. We will watch it closely
throughout the day because we do not want to miss out once it breaks through
this high.
STOCKS
FROM JANUARY 12, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
CSCO
|
NT
|
|
|
|
|
DELL
|
NT
|
|
|
|
|
GILD
|
NT
|
|
|
|
|
YHOO
|
$16.84
|
$16.82
|
$(20)
|
(.12)%
|
|
|
|
|
|
|
|
Today
|
|
|
$(20)
|
(.12)%
|
|
Month-to-Date P/L January 2010
|
|
|
$70
|
(.36)%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$70
|
(.36)%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
CSCO– No trade. Stock did not break resistance.
DELL
– No trade. Stock broke resistance at the open, pulled
back for a few minutes, then broke out to new highs, stalling at $15.19 at
9:44am EST. The stock made new highs at
10:01am EST, but we did not make this trade because the stock broke highs twice
within the first 20 minutes of the morning.
GILD
– No trade. Stock did not break
resistance.
YHOO
– We bought YHOO on its breakout, but the weak market held the stock back. YHOO hit a high of $16.86, where it stalled
and sat in a tight range. We held on as
the stock stayed at $16.83, but once it broke below that, we sold for a small
loser.
