| Feb 18, 2010 |
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Daily Insight - Feb 18, 2010 3:30pm Markets are higher as the SPX.X targets the 1115.00 trendline and COMPX heads towards its upper TFTF boundary of 2265.00. Higher prices are most likely for the latter index as it breaks out of its consolidation while the former has to bypass the 1115.00 line before a breakout spike materializes. "Day Trader" had no trades with BRCD as it never went over Wednesday's high but is making $0.25 cents on Agilent. He will sell Agilent into the close and discuss his selections after the bell. Swing Trading - Feb 18, 2010 3:30pm "Swing Trader" has no trades for the day. After 4:00pm - Feb 18, 2010 Broad market index SPX.X remains in its 1086.00-to-1115.00 consolidation as it rallies to the first resistance of the black-colored 50-day moving average. This is seen below as it pushes towards the 1115.00 horizontal trendline. Noted is that after the close,the Fed said it would raise its discount, or primary credit rate, to 0.75% from 0.50% but do not signal any change in the outlook for the economy or for monetary policy.
Tech and bio-tech index COMPX is shown below rallying towards its upper TFTF levels of 2265.00 as its first target. The index has broken decisively above the 2200.00 trendline is poised to challenge the year's highs.
"Day Trader" will buy NTGR at Thursday's high or higher as long as it opens under this price. Illustrated below is how the stock has started to resume its uptrend after exhibiting a "BUG" formation on February 10th which consisted of a large up-gap and a spike in volume. Noted is that if "Day Trader" gets caught with this trade, "Swing Trader" will assume it as the "BUG" pattern has a very high probability of success. And if the stock opens above Thursday's high of 24.22, then "Swing Trader" will look to buy it at best possible prices under 23.91 as the trade setup for "Day Trader" will have then been negated.
Trade Summary - Feb 2, 2010 No trades Week's Recap No trades |
