Picks
for January 22, 2010
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
ALTR
|
$22.28
|
$22.18
|
$24.00
|
|
ERTS
|
$17.57
|
$17.47
|
$19.00
|
|
RNWK
|
$ 4.68
|
$ 4.58
|
$ 6.00
|
|
SNDK
|
$30.16
|
$30.07
|
$33.00
|
ALTR RESISTANCE LEVEL - $22.28
ALTR was one of the few strong stocks on
Thursday as the stock closed up $.52 on heavy volume. We are watching ALTR on Friday for a possible
continuation move. Resistance for this
move is $22.28, which reflects Thursday’s high of the day. ALTR will move quickly, so watch the stock
closely for this possible move.
ERTS RESISTANCE LEVEL - $17.57
ERTS broke into its gap on
Thursday and could continue this move on Friday. The stock hit a high of $17.57, which is
resistance for Friday’s move. We are
buyers of ERTS for this move and expect to see a fast upside move. Keep ERTS on your radar for Friday’s trading
day.
RNWK RESISTANCE LEVEL - $4.68
RNWK pulled back on
Thursday, but continues to hold up very well.
The stock still looks good, which is why we are watching it again on
Friday. The breakout high from last Thursday is $4.68, which is resistance for
this next upside move. We are buyers of
RNWK once it breaks through this high and expect to see a quick upside
move. Keep watching RNWK for this
upcoming move.
SNDK RESISTANCE LEVEL - $30.16
SNDK traded
slightly higher on Friday and could be setting up for a range breakout
move. The high of this range is $30.16,
which was Thursday’s high of the day. If
SNDK can break through this high, we should see strong volume push the stock higher. There could be good upside in this trade, so
watch SNDK closely on Friday.
STOCKS
FROM JANUARY 21, 2010
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
EBAY
|
$24.25
|
$24.49
|
$240
|
.99%
|
|
ERTS
|
NT
|
|
|
|
|
INTC
|
NT
|
|
|
|
|
RNWK
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$240
|
.99%
|
|
Month-to-Date P/L January 2010
|
|
|
$340
|
.96%
|
|
|
|
|
|
|
|
Year-to-Date P/L
|
|
|
$340
|
.96%
|
*Percentages are based on Percent
Gained/Lost per Trade accumulatively
EBAY – We bought EBAY when it
broke resistance and watched the stock run up to $24.55 on heavy volume. We sold when the volume dropped and the stock
broke below $24.50.
ERTS
– No trade. Stock broke resistance at the open, pulled
back and made new highs of $17.54. The
stock did make new highs later in the day, but the stock did make highs twice
in the first few minutes of the morning and the weak overall market stopped us
from buying this move.
INTC
– No trade. Stock broke resistance early
in the morning, hitting highs of the day at this time.
RNWK
–No trade. Stock did not hit resistance.
