It seems like everyone is very focused on the market breaking above the 1128-1132 resistance, but the real action is in stocks. We’ve held 1113-1115 for about five sessions now, and we are opening near the resistance so it will be interesting to see if the President’s “Town Hall” meeting along with the Fed tomorrow will push the market through. I’ll keep looking for great patterns and taking trades.
AAPL has been leading this market again, and we’ve had two nice buy pivots (Almost 25 points ago). Now it’s hovering in front of old highs, and I’d love to see it hold above 265-270 for a few more sessions, then trade through 278-279.
BIDU looks set up here for another break out trade 87-87.50 is buy area and then new highs are in the cards.
GOOG is not leading but a great buy for us on Thursday and Friday through 482.50-485. It’s opening here around 492. I will take some cash flow and try and hold some to 498-502.
AMZN is up almost 20 points since our buy price and then about 10 points from last pivot. This pattern is Similar to AAPL, holding right in front of new highs. I’d love to see some type of bull flag develop and give us another great entry.
VMW is getting a little sloppy with some fundamental guys saying it’s up too high on a valuation basis. As long as it stays above 84-85 area, it can go again.
CRM is also sloppy, not sure how powerful next move can be. As long as it holds 114-115 it can stay in game.
NFLX saw a nice controlled pull in down to 140ish. All year this has been a opportunity to buy, and I think you can buy vs. 140.
Banks took the week off after a big run. This group needs to get going again in order to get big push through resistance.
GS, after a big move, it’s trying to hold 150-151. As long as it stays over this level it can go again. Look to see if it can trade above Friday’s high.
JPM was impressive, but had a pretty ugly day Friday after a big run. I’d avoid for a bit.
BAC. If you want to throw a stock in the drawer, this one looks like you can buy and put it away for an investment. You buy 13.50 is with a stop at 12.50 and you probably get 15-17 by year end.
WYNN looks great. I wrote this up last week to buy around 91.50ish. I am long stock and options. I will look to add cash flow money intraday if we get above 93-94 and hold.
LVS looks choppy buy holding 32 after a big run for us from 19ish- a trade thru 32.50 can get us 33 +.
MGM is a big laggard but you can buy vs. 10 or 9.75 and then add through 10.55 and if the casinos go I think you see $11.30-11.80 at some point.
CMG looks good still holding way above our prior break outs. Maybe it gets momentum trade again through 168-170 for a trade.
V and MA. I put these on the radar early last week going into the conference and they bounced well. MA is at top of a lower range. I will see if tries to push through 214 but it could use a rest. Visa is not acting as well.
CCME starts its buy back. I’d be long vs. 7.50 and we could see a big squeeze soon like FUQI and ASIA last week.
OIH is holding after a nice move I would consider some again above 107.50-108 as sectors keep rotating.
Gold- we’ve been net long since 2008. A nice cash flow break out early last week, and you should always take some profits at historic highs, but this still remains strong and a great vehicle.
