What I'm Watching

Chart of the week

Date: 11/23/2009
Symbol: HSC
Company Profile: Harsco Corporation provides industrial services and engineered products worldwide. The company operates in two segments, Harsco Infrastructure and Harsco Metals.
Sector: Basic Materials
Industry: Steel & Iron

TRADING PLAN

Entry price: short under 32.25
Stop price: stop above 32.74
Target: 31-30 areas

Chart explanation: HSC already start with new selling wave. Daily flag is broken and I’m looking for possible continuation setup. Found it with Friday action and continuation pattern. Day trade target is 31.50-31 area, while swing is more. If you look at weekly/monthly charts too you can see that HSC have room to see 29 areas what is 200sma on daily chart. HSC action will depend to market action. For start I will use daily CP setup and we will see what kind of pace and volume will be
 

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Chart of the week

Date: 11/30/2009
Symbol: WOOF

Company Profile: VCA Antech, Inc. operates as an animal healthcare services company in the United States and Canada. The company offers veterinary services and diagnostic testing to support veterinary care; and sells diagnostic imaging equipment, and other medical technology products and related services to the veterinary market.

Sector: Services
Industry: Personal Services

TRADING PLAN
Entry price: short under 22.75
Stop price: stop above 23.75
Target: 20 - 18 areas

Chart explanation: I’m looking for market weekly/monthly correction and WOOF is in same line. After weekly consolidation I’m looking for selling continuation and setup under $22.75. Stop will be above previous daily high ($23.75) and at that point weekly pattern wont be valid any more.

Ivica
 

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Hello traders,

CBRL


Market look lower, but it is also close to support area and I will look for possible bounce. In that case I’m looking for strong names like CBRL. Obviously it is much stronger then market action (for now) and here is trading plan what I will use. In case that market support won’t hold and in case that w e will see strong selling pressure with high volume I will cancel CBTRL idea for today.
All who follow my work wish good trading day
Regards
Ivica
 

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Chart of the week

Date: 12/28/2009

Symbol: VRSN

Company Profile: VeriSign, Inc. provides infrastructure services to various networks worldwide. It operates in two segments, Internet Infrastructure and Identity Services, and Other Services.

Sector: Technology

Industry: Application Software

TRADING PLAN

Entry price: long above: 24.29

Stop price: stop under: 24.15

Target: 25 areas

Chart explanation: First what I see on daily VRSN chart is 12/18/2009 bear trap and big move up on high volume. Telling us that VRSN want go up. After that reaction I like to see consolidation and good risk/reward possibility and I found it on Thursday action what result with continuation pattern on daily time frame. Also we can see same pattern on weekly time frame. I will look for move up in to end of the year and for $25 target area. Friday small range giving us possibility for good risk reward trade.

If anyone have any question or need update feel contact me
 

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Thank you very much!!!!

I wish you and your familly and to all traders better 2010 year. Hope all wishes will come true :)

Here is one trading idea:
Chart of the week

Date: 01/04/2010
Symbol: GT
Company Profile: The Goodyear Tire & Rubber Company engages in the development, manufacture, distribution, and sale of tires and related products and services worldwide.
Sector: Consumer Goods
Industry: Rubber & Plastics

TRADING PLAN
Entry price: short under: 14.00
Stop price: stop above: 14.75
Target: 10 areas

Chart explanation: I like GT bear flag and that is main idea. In case that we will see market correction on weekly time frame I will expect from GT to see selling continuation and I’m using bear flat for trading plan. First support will be 12.50 and 50sma (green line) area. After that previous low and finally support area (target area) will be 10 areas. But I like to note again that I want see market support for target area. If GT will stay in flag pattern, it will be interested and on watch list until will stay under 20sma (blue line). If GT will break above 20sma on weekly time frame then GT will be canceled.



If anyone have any question or need update feel contact me over email.
 

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Position Trade

Date: 01/11/2010
Symbol: CELG
Company Profile: Celgene Corporation engages in the discovery, development, and commercialization of innovative therapies to treat cancer and immune-inflammatory related diseases primarily in Europe and the United States.

Sector: Healthcare
Industry: Biotechnology
Trading Strategy:

CELG monthly consolidation under 20sma (blue line) is my interest. Also forming cup and handle pattern o0n the monthly and daily time frame. But also smaller time frames are interested for day, swing and finally position trade. That is what I like from “whole picture”, support on several time frames. We can see that CELG consolidate at 60 min chart what can lead in to day and swing breakup. Also can lead to monthly breakup what is interest here. But like to note that I will follow for smaller time trades too.
 

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