| Mar 5, 2010 |
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Daily Insight - March 5, 2010 3:30pm Markets have unfolded the way we anticipated and our call that "higher prices are expected" rang true. More upside movement is seen for next week. "Day Trader" had no trades as BIDU did not pierce Thursday's high and will discuss his selections after the close. Swing Trading - March 5, 2010 3:30pm Illustrated below is how LXK remains in position to stage a Day-1 breakout spike as the stock continues to "consolidate at the highs." "Swing Trader" will maintain all positions, stops and targets as patience is needed at this point in time.
After 4:00pm - March 5, 2010 Broad market index SPX.X has resumed its defined uptrend and seen below is how the index is about to challenge its 52-week highs. We expect this to happen before any serious setback occurs and it is highly probable that new 52-week highs towards upper TFTF levels could materialize.
Tech and bio-tech index COMPX has finished at new 52-week highs and more upside is expected into next week. Shown below is how it has resumed its defined uptrend after three days of consolidation and first targets are its upper TFTF boundary at Monday's projected level of 2360.00.
"Day Trader" will buy CSCO and AA at Friday's high or higher as long as they open under this setup price. Depicted below is how CSCO is in position to stage a Day-1 breakout spike while AA is about to break out of a sideways consolidation pattern.
Trade Summary - March 3, 2010 Mar 2 Buy LXK @ $34.72 ...... Stops @ 32.95; Target @ 40.00 Week's Recap Feb 26 Buy PCLN @ $224.70 ...... Mar 3 Sell @ 235.00 (profit taken) |
