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

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.

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.