| Feb 19, 2010 |
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Daily Insight - Feb 19, 2010 3:30pm Markets are seemingly "consolidating at the highs" as the SPX.X targets the 1115.00 trendline while the COMPX heads towards its upper TFTF line. Higher prices are expected as the indices ignore the rate hike and has not negated Thursday's up vector. "Day Trader" is up fifty odd cents with his "very high probability of success" NTGR and will sell it into the close with working stops set at 24.60, (3:11pm). The stock is currently around 24.70 and he will discuss Monday's selections after the close. Swing Trading - Feb 19, 2010 3:30pm "Swing Trader" has no trades for the day. After 4:00pm - Feb 19, 2010 Broad market index SPX.X edged higher towards the 1115.00 trendline and is staying within its 1086.00-to-1115.00 consolidation zone. Prices should reach this upper limit before we see any significant pullback and shown below is how the best scenario would be for the index to reach upper TFTF levels of 1125.89.
Tech and bio-tech index COMPX is firmly moving to its upper TFTF levels of 2272.70 and illustrated below is how it has closed above the important intermediate term black-colored 50-day moving average. Higher prices are expected.
"Day Trader" will buy BRCD and GLW at Friday's high or higher as long as they open under this trade setup price. Seen below is how BRCD is consolidating above its rising midpoints and should make an effort to reach the 7.35 area while GLW has negated its downtrend and in position to rally to the 18.86 area. Both targets are technically their respective 50-day moving average.
Trade Summary - Feb 2, 2010 No trades Week's Recap No trades |
