What I'm Watching

Chart of the week

Date: 01/04/2010

Symbol: SYK

Company Profile: Stryker Corporation, together with its subsidiaries, operates as a medical technology company worldwide. It operates in two segments,

Sector: Healthcare
Industry: Medical Instruments & Supplies

TRADING PLAN
Entry price: long above: 56.15
Stop price: stop under: 54.38 (55.50)
Target: 10 areas

Chart explanation: SYK formed weekly continuation pattern. Setup is above previous week high and stop is under previous week low. I will look for breakup on new high and if that will be case at Monday I will use stop under 55.50 (under previous low on 60 min time frame). Generally stop is under previous week low, but we need to follow intraday action too, what can increase reward. First resistance is at $57.50 and finally target will be at $60 resistance area. Also I will follow CCI on daily time frame what will give us breakout confirmation. As always it is important to follow breakout pace and volume
 

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Symbol: SYK


Company Profile: Marsh & McLennan Companies, Inc., a professional services company, provides advice and solutions in the areas of risk, strategy, and human capital. The company operates in three segments: Risk and Insurance Services, Consulting, and Risk Consulting and Technology.

Sector: Financial
Industry: Insurance Brokers

TRADING PLAN
Entry price: long above: 22.10
Stop price: stop under: 21.50
Target: 24-25 areas

Chart explanation: MMC holding better then market at this point. Consolidate between 10sma as resistance and 50sma weekly as support area. If will break above 10sma I will be interested for rounding bottom setup and I will look for bounce to high. After possible setup first stop will stay 50sma and after that I will trail stop
 

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Chart of the week

Chart explanation: For AMZN it is important to watch market action because if market will continue to go up then very possible AMZN will break above daily 20sma what is key resistance for this setup. But if that won’t happen then AMZN have good odds for selling. Setup under Friday low is aggressive or as I like to say “early setup”. Under Thursday low is let’s say “regular setup”. I’m trying to find better risk/reward. My plan is to take 50% under Friday low and 50% under Thursday low if AMZN will work. I like it because it is weaker then market action and if market resistance will hold and if AMZN will stay weak we could see good swing move down.

good luck
 

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Ivaca, when the trade becomes profitable (as AMZN did quickly this morning), do you move your stop to break even or leave the initial stop in place and accept whichever is hit first, stop or target? I'm almost exclusively a day trader so I'm not sure how swing trades are normally managed. The few swing trades I did recently I moved to b/e once profitable and were stopped out there.
 
Quote from NoDoji:

Ivaca, when the trade becomes profitable (as AMZN did quickly this morning), do you move your stop to break even or leave the initial stop in place and accept whichever is hit first, stop or target? I'm almost exclusively a day trader so I'm not sure how swing trades are normally managed. The few swing trades I did recently I moved to b/e once profitable and were stopped out there.
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For em AMZN is swing idea and swing stop will stay. As day trader I will use now stop above 118..above 200sma 15 min
 
Chart of the week

Chart explanation: Main idea for GMCR is bounce from weekly 10sma after two consolidation months. On the weekly and monthly time frame charts we can see that is strong uptrend stock and I will look for continuation.

good luck
 

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Quote from IvicaJ:

Chart of the week

Chart explanation: Main idea for GMCR is bounce from weekly 10sma after two consolidation months. On the weekly and monthly time frame charts we can see that is strong uptrend stock and I will look for continuation.

good luck
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I scribbled a note about this trade, never put in a buy stop order, because price dropped that day, and then saw the breakout on the hi ticker today. Beautiful call. Hope YOU got this one!
 
Quote from NoDoji:

I scribbled a note about this trade, never put in a buy stop order, because price dropped that day, and then saw the breakout on the hi ticker today. Beautiful call. Hope YOU got this one!
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Thank you. I use alarms- That helping me to prepare on time..thanks
 
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