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< Back :: Daily Swing Trade

Daily Swing Trade

Let's update Monday's picks first. 

 

BIIB/Biogen - Continues toward the first overhead target, but we need to see if push up with volume like it really means business, particularly at this point.  Suggest moving stop losses up to around yesterday's low.

CPWR/Compuware - Hesitation in the form of an inside bar yesterday at Target 1.  Again, it needs to push up with volume to show the sellers who appeared here on February 2 that it means business, or else they'll be tempted to come out again shortly.

IBM/Intl Business Machines - Stopped out.

ETR/Entergy - Bar 4 of the bull flag is formed.  Traders looking to continue stalking this buy setup should move the buy alarm down to Monday's high.  If the buy stop is elected, the initial stop loss should be placed just above Monday's low.

HAL/Haliburton - Holy Grail buy setup is elected on break of last Friday's high.  Suggest moving the stop loss to just above Monday's low.

FLEX/Flextronics - Formed a potential reversal pattern here on the daily chart.  Pass for now on the buy side unless you are trading intraday.

GM/General Motors - Formed Bar 4 of a bear flag.  Trader stalking this short sale should move their sell alarm up to Monday's low.  If the trade is made today, the initial stop loss should be placed just under Monday's high.

JDSU/JDS Uniphase - Big ugly pattern to start with and some sellers appeared at the gap zone from the February 4 high.  Similar in look to BIIB.

JNJ/Johnson & Johnson - Bar 2 of a bull flag is formed.  Traders looking to buy should move their buy alarm down to Monday's high.  If the trade is made today, the initial stop loss should be placed just above Monday's low.

LTD/Limited Brands - One more inside day.  Traders looking to buy should move their buy alarm down a touch to Monday's high.  If the trade is made today, the initial stop loss should be placed just above Monday's low.

NXTL/Nextel Communications - This is basically the more expensive version of the JDSU chart. Tried to "break out" but there is some hesitation.  If this one can move up, best to look for intraday entries.

04.02.10 09:06 #