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!