| Feb 26, 2010 |
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Daily Insight - Feb 26, 2010 3:30pm Markets are still churning around their midpoints and the 50-day moving average so for now, patience is warranted until a break materializes. More of the same low volatility is seen into the close. Agilent finally paid off as it stages a Day-1 breakout spike while PCLN is unfolding as expected. "Day Trader" will sell both stocks into the bell as he is up about a quarter point with Agilent and a couple of points with PCLN. He will discuss his selections after the close. Swing Trading - Feb 26, 2010 3:30pm "Swing Trader" has bought PCLN at 224.70 with a first target set to 250.00 and initial stops pegged at 211.50. Seen below is how the stock has "supported and bounced" off its rising midpoints and resuming the "BUG" pattern rally that started on February 18.
After 4:00pm - Feb 26, 2010 Broad market index SPX.X has remained between its midpoints and black-colored 50-day moving average for most of the day. Shown below is how a "decisive" break of either of these lines should propel the index to the horizontal 1086.00 or 1115.00 consolidation boundaries.
Tech and bio-tech index COMPX has also steadied itself between the midpoints and the 50-day moving average and seen below is how the index is in position to resume its current rally phase.
"Day Trader" will buy AAPL at Friday's high or higher as long as it opens under this price. Illustrated below is how the stock is ready to challenge the January highs with a break of Friday's high of 205.17.
Trade Summary - Feb 26, 2010 Feb 26 Buy PCLN @ $224.70 ...... Stops @ 211.50; Target @ 250.00 Week's Recap No trades |
