15-Mar-08
Set Ups for next week
Greeting... Saturday Sessions.... Chart work while others in the house nap.... I changed the format a little bit this week and categorized things that caught my eye based on how I perceived them to be set up. I have included some price points, where i think a breakout may occur, or a stop/resistance exists. Hopefully this makes sense. (If it doesn't let me know). I didn't include charts this week, but can if you have specific questions about what I see in the set up. Actually have to make a disclosure... I am long of *SDA and have played it a little different than Q-man I was 1/3 with the FF add... then went 2/3 on the break. Pealing some off into the break is of course wise... (and probably prudent... and I will probably get stopped out for a break even... lol) Enjoy your weekendAnticipatory*ABB (Industrial Electrical Equipment)- Trendline break here at the end of Feb. and now consolidating move with more green days than red, but distribution days have been on slightly heavier volume. 26.30/24.51*APA (Indy Oil and Gas)- Battleground in this name continues as the sideways movement between 115 and 120 continues. If the march history continues, Monday will be a move up and possibly to a breakout. 120.56/115.23*AUY (Gold) Consolidated move up on average volume and then had a high volume move higher in Friday’s mess. 19.47/17.59*ECA (Indy Oil and Gas) Acting very well, two high volume moves off support at 75. Break wasnt clean so this one stays as an anticipatory add. 79.38/75.85*FTI (Oil and Gas Equip.) Was bought on Friday right up to its downtrend overhead resistance. Given the strength in a bad tape, I would be inclined to buy the break and then use the trendline as support and a stop. 59.26/53.62*GTLS (Metal Fabrication) High volume break in Feb and then attempt higher was stopped. Been moving between 34 and 36 on decreasing volume. 36.19/33.00*HK (Indy Oil and Gas) Trying really hard to chew threw resistance at 19. Whippy and this is another accumulation/distribution battleground stock. 19.12/18.17*LKQX (Auto Parts Wholesale) Pop up in late Feb has been consolidating but looks to be under accumulation. Making a push up towards all time highs and a break over 23.66 would be new highs. 22.70/21.21*MTL (Steel and Iron) Bounced right back from a rinse on 3/10 and saw good volume accumulation the rest of the week . 142.65/120.00*OXY (Indy Oil and Gas) Like all the oil and gas plays, there is some selling in these names, but they are holding and putting in fairly easily seen resistance and support. There are some good risk/reward trades to be made here. OXY has a few things in its corner, clear support around 74, its in its upper Darvas box, and a break over the recent double top would mean blue skies. This one might need some time before the break, but patience may be worth it, keeping in mind that all of this is no longer valid on a break below 74. 80.83/74.33*PQ (Indy Oil and Gas) Tried to break out got turned around in Friday’s mess. Similar chart to all the other indy oil and gas.16.60/15.00*RRC (Indy Oil and Gas) Unlike the OTHER I O and G plays... this stock has seen higher volume accumlation but still has some lower volume selling days. 65.53/56.22 SID (Steel and Iron) Bought all week, though less volume than the sellers two weeks prior (caution). 41.98/35.60URBN (Apparel Stores) Working through some resistance from summer of 2005. In the near term, stock has been attacking the 31 level recently, and this week tried it on heavy volume. Was turned back friday (on high volume) but could be worth watching. 31.77/29.40Trendline BreaksAIRM- 46.59/43.83GME- 47.46SBS- Chart within a chart. Downward trend break on 2/27 and potentially come back to kiss that line goodbye several times. Add above 46, stop below... break would be 49.69.InterestingBBL- Bought all week stop at 61.21EXPO- Technically the breakout failed on Friday but was on light volume... worth watchingBreakoutsBUCY Stop at 104.36BVN Stop at 81.37GGB Stop at 31.85HLF Stop at 46.04PTNR Stop at 21.70*SDA (Carne) Broke out on Tuesday/Wednesday and tried to sell off the rest of the week. Hammered hard and held where it needed to above the break (18.50). 19.93/18.52SQM Stop at 207.49ETF’sFXI (China) (SHORT) Might be a chase here but wow, down big on heavy volume Friday. Might be coming into some support here around 125. GDX (Gold Miners) Clean breakout over 55 though on light volume. ITB (Home Construction) Downward trend broken in Jan, tried to get lower again but put in a higher low on 3/10.SMH ( Semi) Wedge forming that is going to get resolved here one way or another soon. 29.62/28.26
Posted at 06:35 in Market Report | Permalink | Comments () | Top
The Ord Oracle - 11...
On 11/13 the SPY tested the “Selling Climax” low...
mysmp
The Common Theme
In numerous sectors, we see essentially the same pattern in ...
hrtrader
Sticking my big toe...
Hello all, and welcome to my blog.This is my first entry, an...
Growler4215
Gotta love Nasdaq.c...
A favorite strategy of mine (proven right more often th...
islandminister
Categories
Watchlist Tags
Other Stock Tags
0 Comments on "Set Ups for next week"
You must be logged in to post a comment.
Top