Trades Ideas for July 27

Besides the stocks in the last 3 posts, I will also be looking at the following possible trades:

SIRI - Long on break of descending wedge.  Good volume has been coming in the past 2 days and could be ready to make a move here.

ARNA - Short.  The price has been way overextended IMO and the stock actually closed weak today after gapping up and hitting highs.  Could retrace towards 5.25,

A few more good looking charts for July 26

JAZZ 

CRM

CTSH

CMG

ISRG

LCAPA

RINO

Potential Plays for July 26

Here are a few stocks I am watching for Monday July 26.  There are currently alot of charts that are looking good for further upside and I'll possibly post a few more before monday.

BIDU (Baidu) - This was a good mover on friday and is currently in a breakout area.  The stock has held up very well during the recent downturn and should see higher prices from here once it clears 78.50 area:

MPG - Closed at the 50SMA on Friday and has formed a wedge during the last few months.  If the Market continues higher next week, we could possibly see a break through the 50SMA and the descending trendline.  Will be watching this one on Monday!

APKT - Watching this one for break of upper channel.  If fails, should find support on the lower channel for a trade as well.

NXTM - Have traded this one a few times and was expecting this breakout but did not hold into earnings.  Closed on friday at all time highs and Its only higher from here in my opinion.

Trading Ideas and Current Positions

Following are a few trading ideas for Friday Jul 22nd and are positions I currently have open.

CREE - bought August 75 Calls for 1.97

STEC - bought shares at 15.20

STP - bought shares at 10.88

CIGX - No position at the moment, on Watchlist

YRCW - Still holding 2/3rds of position from .20

Watching the Semis for a pullback - SOX

The Semiconductor index closed above the 50SMA and apprears to be retracing into the descending trendline.  INTC also announced earnings that were better than expected but sold off into the gap up this morning.  Will continue to watch INTC and the other Semi's for further weakness.

SOX Daily:

INTC Daily

GS "Goldmans Sack" - Looking good!

Goldman's Sack (As I like to call it) broke above the descending trend line (top channel) and above the 50SMA.  RSI just peaked above 50 which I also consider bullish.  The market has been picking up lately and tomorrow is a crucial day for the SPX as it closed right at the 50SMA.  If Goldman takes the role of a market leader after all the bad news surronding the stock lately, the market is definitely going higher!  GS has room to run, if there is continuation, 1st Target 145 (approx), 2nd Target 149.50!

GS Daily Chart:
























SPX Daily Chart - hitting right into the 50 SMA

STEC - Short did not confirm

Was watching STEC today for a short but the market did not let it retrace.  STEC went right up with the rest of the market and at no point did it confirm to sell short.  A confirmation to sell short for me would have been a breach below the prior days low, but it never did.  STEC currently closed right at the 200 SMA and I will watch closely tomorrow to confirm if it acts as resistance once again.  If the Market is strong and it breaches the 200 SMA on vol, I will now discard it as a possible short opportunity.

Here is the daily chart:

Thanks for reading!

STEC - Another short on watchlist

Today STEC hit right into the 200SMA and retraced on higher than average volume. This stock could retrace back to the 100 and 50 SMA's which should provide some support around 13.20.  Could get a buck ($1) out this short! On Watchlist!

IDT - Short Candidate - 07-13-10

I have been watching this one go up and up and up! Volume should be drying up soon as it is overbought and will be a good short candidate.  Will keep on watchlist for possible short tomorrow or Wednesday.

YRCW end of day check

YRCW continued its move up nicely. I sold early but if I would have placed a 2 cent stop, I would have been stopped out.  I took the 20% and ran!  I am going to keep a close eye on it tomorrow as it could run into the 100MA (.30 - .31) if the momentum continues.  Keep an eye on it!

APC breakout to continue?!?!?!

APC has had a big move from its bottom and is approaching its 50SMA and gap resistance.  If APC can break through this area, It can easily run to the 51's.  In addition, news on the BP oil spill cap will probably give it an extra push.  Might look to trades some calls on it tomorrow.

Is the bottom in for YRCW?

Picked up 10,000 shares today at .1575 for a short term trade.  YRCW released guidance today which was above analyst estimates.  Price currently breaking descending trend line.

YRCW Daily Chart

Market Recap - Current Positions

The Markets opened relatively flat and remained that way throughout the day.  At about 2:30pm, the indices started to gather steam and rallied into the close after having been basing all day.  Didn't do much trading today except cash in my V (Visa) July 75 calls for 122% gain (from 1.30 to 2.89).

I am still currently holding positions in BANR and NXTM.  In addition, I initiated a position in KERX which has been in a downtrend forming a descending wedge for the past 2 months.  I am expecting an upwards break of the trendline, especially if the markets continue with the recent strength.

Target for KERX = 3.98+

I do still have some positions in $VXX and $GLD that were hedges that are basically worthless.  These are option positions that will expire now in July.

Have a good weekend!

Market update and Watchlist - 07-08-10

The S&P 500 was able to pull off 2 big up days in a Row!  Yesterday, the indices ended up 3%+ and closed on the highs.  Today the markets were rather stagnant most of the day hovering in positive territory and popped End of Day.  With the S&P closing strongly, my bias is to the upside for tomorrow but I do see some obstacles the SPX has to overcome for confirmation of even more upside.

On the SPX Daily, I do see a bit more room to the upside but would like to see the price over the descending trendline and 1st resistance area.  In addition, the markets need a bit more volume for follow thru, but I might be asking for too much considering its summer:

A few stocks I will be watching tomorrow:

PWER

CRUS

ZUMZ

VIT

Some I am holding over night:

NXTM

BANR

Trade em well!!

Monster Move in NFLX today

Just got back from a semi-extended 4th of July Vacation and haven't done much trading.  I Banked 55% on the NFLX (Netflix) Calls I was holding today on the nice move off the 50SMA.  I took the profits, but it closed on its highs and has started to pick up vol.  It could continue its move Higher tomorrow without me.

IMAX Sitting on 200MA

LQD - Time for a pullback?

Touching against upper channel! If the market rallies on good news or bad, this Bond ETF could see a nice pullback! On watchlist for short!

NXTM - Still like it!!!

NXTM has not even tested the 50MA in the recent selloff.  Still holding strong... Just look at the recent charts!

APC Setup

Ive been long APC for 2 days trying to catch a bottom.  Right now, its looking better than ever! It held up well during the recent selloffs and showing a double bottom on the daily chart.  i'm looking for 1st target 40, 2nd target 44.95.