Friday, March 18, 2011

Chart Review / Trade Ideas.

ASIA AsiaInfo-Linkage, Inc.- Long above 21.20ish. Short set up possible also but long bias. Watch volume to confirm. 

SYMC Symantec Corporation  - Stalking short.  Looking for a gap fill @ 16ish or a test of its 200 DMA.

MR Mindray Medical International Ltd - This had been a great range trade.  Could break in either direction but in the mean time play the range. 

WMGI Wright Medical Group, Inc. - Still on my watch list. Stalking long. 

SNTS Santarus, Inc. - aggressive long.  Stops must be kept very tight. 

MMR McMoRan Exploration Co. - Coiling up

AAPL Apple Inc. - Short is working that was suggested last week.  If you cover half here at the 100 
DMA you can let the rest run for a free trade. 

FCEL FuelCell Energy, Inc.  - Aggrisive trade idea.  Might need more time to base. 

CATY Cathay General Bancorp - Short trade looks like it has room to 15ish.  Stock is below is 100 
DMA.  Careful with shorts as the market is due for a bounce.

SDS ProShares UltraShort S&P500 (ETF) - Retesting its 20 EMA could set up for a long entry.  
There are some great option plays here. 

TLT iShares Barclays 20+ Yr Treas.Bond (ETF) - initial support at its 20 EMA.  I would target the 200 

VXX iPath S&P 500 VIX Short-Term Futures ETN - Starting to trend up.  Lets see if it can hold. I'd 
actually prefer to it test 28ish again by April for the "sell in May and go away" trade.  Where you'd 
want to be long VXX. 

EDZ Direxion Daily Emr Mkts Bear 3x Shs(ETF) - Watching this for a long and as a clue to where 
the market is headed next

FCX Freeport-McMoRan Copper & Gold Inc. - This was a great tell that the market was going to 
roll over.  Is it telling us now we're going to bounce? Broke the down trend and currently testing its 
50 EMA.  Watch this closely. 

GS Goldman Sachs Group, Inc. There's a lot of bullish talk about the banks right now after the FED 
announcement but the chart isn't screaming buy yet.  GS did bounce off its 200 DMA but only a bounce
trade as of now. 

C Citigroup Inc. - Stuck between its 100 and 200 DMA.

BAC Bank of America Corporation - In a wedge and holding its 200 DMA so far. 

No position at this time. Position declarations are believed to be accurate at time of writing but may change at any time and without notice.

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