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As mentioned in last nights watchlist, I expected an up day or an inside day today. We got an inside day and didn’t have a ton of opportunity to capitalize on anything. Were a few ops on stocks we didn’t get involved with, but not enough to make a huge day out of what we were given. I ended the day down a little bit after struggling to get any cushion to start going for it. Watch list was still green, I just got turned around in GDI a few times so my overall P&L was in the red. As long as you keep your losing days to a minimum the big days more than compensate for them. VERY SLOW DAY TODAY. Looking for a bigger day tomorrow as GS reports in premarket. There also weren’t too many news alerts today. Made a little on SVU, but there was nothing screaming on volume today.
Last Nights Watch List
Total Real Time Watch List Calls Worth +$240
DISH Long – Had 1 loser and 1 winner on this. ***Real Time Calls Net Total +$130***
MRO Long – Had 1 loser and 1 winner on this. ***Real Time Calls Net Total +$40***
HMSY Short – Had 1 winning call on this. ***Real Time Call Net $220***
NYX Long – Had 1 Loser on this. ***Real Time Call Net -$150***
FB Short – Set my alert and it never went off since this gapped below the entry. $$$Cha Ching$$$ if you took it. Not happy I missed this one.
QCOM Long – Removed due to gap above the entry. Could have been an easy short once it started trading back under the speed line on the daily.
Tomorrow’s Watch List
GM Long/Short – Stock is consolidating for another leg down just above some key support levels. We have a double daily bottom at 19.23. 1st trade on this is a short at 19.22 when/if the volume comes in. Second trade is the throwback on the under/over $19.00 level if we are hugging the whole, and time on a doji off the 5 minute if we sell under $19 easily. $19 is the low from 12/19/11
BIDU Short – Baby is about to start leaking! Has past through numerous levels of support and has failed to hold. Looking to get short at a new relative low. Trigger level on this going to be 106.79
CIE Short – Looking to get short on a new relative low. This stock was trying to trade in the gap on the daily, but has gotten very weak over the past couple weeks. Trigger level going to be 23.64.
BIG Short – Stock has recently broken a trend line on the daily. Looking for more downside tomorrow if the markets are weak. Should get a volume spike at a new relative low. Trigger level going to be 38.05. Be careful in case this puppy tries to bounce off the whole number.
BRCM Short – Thing has been testing the pivot low of 30.71 from 6/20/11 for 3 days now. Solid trigger level at 30.59. The more a stock test a certain level the more likely it is to get through it.
CYH Long – Another doji on the daily today. We had this on the list a few days ago, but it never hit the entry. Does look like we are going to finally get that pop tomorrow if the markets are green. Trigger level going to be 27.91 on this. Make it get a few cents higher than the most recent relative high of 27.86.
CVS Long – Markets need to be green for me to take this trigger. Trigger level going to be on new 52′s. trigger level = 48.32
COST Long – This baby gearing up for another move. I don’t trading stocks on all time highs unless the market is green. This is the same as above… DO NOT TAKE THIS IF MARKETS ARE SELLING WHEN THIS HITS THE ENTRY. We need to break Friday’s high on the SPY before we get into this one. Trigger Level going to be 95.56.
ILMN Long – Stock has bollinger band resistance on the daily at 41.65 so we need to be cautious if we take this one. One throwback trade has already happened at the 41.50 level, so chances are we will get through on the next try. Trigger level going to be 41.51
GILD Long – See if we get any follow through off of their HIV prevention drug that sent this stock up today. Looking to get long on a new relative high. Trigger level going to be 52.21. This will be .02 cents above bollinger band resistance on the daily and a few cents higher than our most recent relative high from 7/5/12.
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