Picks
for January 15, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
AMAT
|
$14.42
|
$14.32
|
$16.00
|
|
EXXI
|
$ 3.81
|
$ 3.72
|
$ 5.00
|
|
PCAR
|
$39.13
|
$39.03
|
$42.00
|
|
QCOM
|
$48.72
|
$48.62
|
$51.00
|
AMAT RESISTANCE LEVEL - $14.42
AMAT seems to have found support and should move
higher on Friday. The stock will move
with INTC (good earnings), and should be a strong stock in the morning. We are watching for a move through $14.42,
which is a two-day high in the stock. There
is a chance AMAT will gap above or trade through this level early in the
morning. If this does occur, wait until after 10am EST for the stock to make
new highs before entering this trade.
EXXI RESISTANCE LEVEL - $3.81
EXXI has been trading in a
consolidation range since gapping up on Monday.
The stock hit a high of $3.81 on Friday, which is resistance for this
breakout move. We are buyers of EXXI once it breaks through this high and
expect to see a fast upside move. You
want to watch EXXI closely because traders love these lower priced breakouts
and will increase the volatility as they buy into this trade.
PCAR RESISTANCE LEVEL - $39.13
If you look at the daily
chart for PCAR, you will see a flag or pennant patter forming over the past few
trading days. The stock broke out last
week and has traded in a tight decreasing range the past few days, giving us
the flag or pennant. This is a bullish
formation and we could see a breakout soon.
Resistance is $39.13, which is the high of this range. PCAR can move quickly, so watch it closely on
Friday.
QCOM RESISTANCE LEVEL - $48.72
QCOM traded down on
Thursday, but is sitting on its 10 day moving average. This is a possible
support level for the stock and where it looks like it might bounce. We are watching QCOM on Friday and are buyers
once the stock breaks through Thursday’s high of $48.72 for this reversal
bounce. We will watch QCOM closely because
this can be a fast moving stock and we do not want to miss out on this
potentially good trade.
STOCKS
FROM JANUARY 14, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
ADSK
|
$26.50
|
$26.58
|
$80
|
.30%
|
|
ALTR
|
NT
|
|
|
|
|
EBAY
|
NT
|
|
|
|
|
SPLS
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$80
|
.30%
|
|
Month-to-Date P/L January 2010
|
|
|
$170
|
.19%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$170
|
.19%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
ADSK – We bought ADSK on its
breakout at $9.50, which is our cut-off time.
The stock ran up to $26.63, before starting back down. The market was somewhat flat at this time and
we did not want to see our profit go away, so we sold at $26.58 for a quick
profit. If you continued to watch ADSK you
saw the stock make another upside move to new highs. If the market had been stronger, we might
have sold half and let the other half work for us.
ALTR
– No trade. Stock did not hit resistance.
EBAY
– No trade. Stock did not hit resistance.
SPLS
–No trade. Stock did not hit resistance.
