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Intraday/Swing Plays
- Thread starter Seanote
- Start date
This is not a recommendation.
TODAYS EXECUTIONS:
14:58:02 HD SLD 2000 49.01
13:33:22 PKS SLD 2000 16.96
10:27:28 MLNM SLD 2000 23.0
OPEN POSITIONS:
Short IBM 1000 106.61 +2.81
Long ED 2000 41.41 +0.27
Long COHU 2000 28.23 +0.02
Long SBUX 2000 23.63 -0.20
Long PALM 5000 4.01 -0.37
Long WCOM 5000 6.59 -0.49
Long DNA 2000 51.97 -0.72
Long BRCD 2000 26.27 -0.98
CLOSED P&L: $1,480 OPEN P&L: ($4,620)
TOTAL CLOSED P&L: $30,713
TODAYS EXECUTIONS:
14:58:02 HD SLD 2000 49.01
13:33:22 PKS SLD 2000 16.96
10:27:28 MLNM SLD 2000 23.0
OPEN POSITIONS:
Short IBM 1000 106.61 +2.81
Long ED 2000 41.41 +0.27
Long COHU 2000 28.23 +0.02
Long SBUX 2000 23.63 -0.20
Long PALM 5000 4.01 -0.37
Long WCOM 5000 6.59 -0.49
Long DNA 2000 51.97 -0.72
Long BRCD 2000 26.27 -0.98
CLOSED P&L: $1,480 OPEN P&L: ($4,620)
TOTAL CLOSED P&L: $30,713
Rally Loses Steam
Stock prices surged following today's much stronger-than-expected consumer confidence data, then proceeded to drift lower and finish marginally higher. Several Fed speakers issued dovish comments and durable goods orders rose for the third straight month.
The Dow Jones Industrial Average gained 72 points (0.7%) to 10,353, the S&P 500 index rose 7 points (0.6%) to 1138, and the Nasdaq Composite was 12 points (0.6%) higher at 1824. Airline, semiconductor and basic materials shares paced the gainers while telecom and utility shares stood out among the losers. Volume on the Big Board was 1.2 billion shares as 1.6 billion shares changed hands on the Nasdaq.
Stock prices surged following today's much stronger-than-expected consumer confidence data, then proceeded to drift lower and finish marginally higher. Several Fed speakers issued dovish comments and durable goods orders rose for the third straight month.
The Dow Jones Industrial Average gained 72 points (0.7%) to 10,353, the S&P 500 index rose 7 points (0.6%) to 1138, and the Nasdaq Composite was 12 points (0.6%) higher at 1824. Airline, semiconductor and basic materials shares paced the gainers while telecom and utility shares stood out among the losers. Volume on the Big Board was 1.2 billion shares as 1.6 billion shares changed hands on the Nasdaq.
Yesterday's bounce to resistance does not erase the previous day's breakdown. The stronger market averages (Russell 2000 and S&P) are testing support, but the big stock averages are sinking. Sentiment still appears to be bullish but that can reverse rather quickly. Expect another down day.
These are not recommendations, only opinions:
GIS - General Mills - Buy
Stock brokeout of a 2 month base, MACD bullish divergence started in early Feb, expect possible resistance @ 49.50 area.
Support around 47.75
Target @ 52.75
NET - Network Assoc. - Short
Stock developed a 3 month triple top, broke through support @ 25.00, gapped down below 23.00, expect retracement through gap @ 24 resistance area.
Stop @ 24.75
Target @ 17.50
MCD - Buy
VPI - Short
Let me know if anyone has looked at these positions.
These are not recommendations, only opinions:
GIS - General Mills - Buy
Stock brokeout of a 2 month base, MACD bullish divergence started in early Feb, expect possible resistance @ 49.50 area.
Support around 47.75
Target @ 52.75
NET - Network Assoc. - Short
Stock developed a 3 month triple top, broke through support @ 25.00, gapped down below 23.00, expect retracement through gap @ 24 resistance area.
Stop @ 24.75
Target @ 17.50
MCD - Buy
VPI - Short
Let me know if anyone has looked at these positions.