Monday, April 26, 2010

HOT


Earnings are on Apr 29th. Overbought going into earnings and close to major trendline resistance.

Pullback target: 50

Stop Loss: 55.50

EDIT (Apr 29th): Broke above 55 with volume. Next stop is 59-60

BAX



Oversold with daily RSI at 15. Bounced of the TL at 47.50. Next support is at 46.00-46.50. Looking for a bounce to 49.00-49.30

Friday, April 16, 2010

HD

Overbought and close to major resistance. Short at 35.70-36.00. Should pullback to at least 33.00

MAR


Overbought and approaching major resistance. Short at 34.90-35.10

Pullback target- 30

Earnings are on Apr 22nd.

Stop loss at 35.50

It will be a great short if it can get to 37.50-38.00, which is the next major resistance level after 35

SPY


Has been going up on light volume and been forming negative divergence.

Saturday, April 10, 2010

APRIL OPTIONS EXPIRATION (OPX) PIN PLAYS

1. IWM: Apr 72/71 vertical put spread for 0.50 or less. Most likely Apr OPX target for IWM- at or below 70.00

2. M: Apr 24/23 vertical put spread at 0.50 or less. I think M will close at or below 23.00 on OPX Fri.



EDIT (4/12/2010): Removed BAC put spread. I was not aware of BAC earnings this week at the time of writing the original post.

IWM: 72/71 Apr put spread could be a safer play.