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Mar 1, 2010
Daily Insight - March 1, 2010 3:30pm

Markets are higher and while the SPX.X encounters resistance around the 1115.00 trendline, COMPX is destined to challenge the year's highs. Nevertheless, with a lot of techs looking better, breaking out of consolidation patterns, and rebounding to the upside, higher prices are expected.

"Day Trader" had no trades with AAPL as it gapped over Friday's high but the stock is headed in the right direction.  He will discuss his selections after the close.

Swing Trading - March 1, 2010 3:30pm

"Swing Trader" will maintain all positions and targets on PCLN as it powers to new highs and that is the beauty of "BUG" formations.  Stops are now raised to today's low of 227.64 and illustrated below is how the stock is exhibiting a Day-1 breakout spike on strong volume.  Higher prices are anticipated.

After 4:00pm - March 1, 2010

Broad market index SPX.X has reached the 1115.00 trendline and illustrated below is how a decisive break above this line will allow prices to "test" the January highs.  Noted is how its midpoints are rising up to help push the index higher.

 

Tech and bio-tech index COMPX has absolutely negated an intermediate "head and shoulders" pattern and higher prices are expected.  First target is the yearly highs and for now, with a lot of individual stocks negating bearish chart patterns, new 52-week highs will not be unexpected.

 

"Day Trader" will buy LXK and IBM at Monday's high or higher as long as they open under this price.  Shown below is how the former is ready to stage a Day-1 breakout spike to new 52-week highs while the latter is in position to challenge the January highs.  Noted is that if "Day Trader" gets caught with the LXK trade, "Swing Trader" will assume the position as the pattern is a high probability "BUG" pattern coupled with a "saucer" formation that was seen between Oct. 20, 2009 and Feb. 1, 2010.  And if LXK gaps over today's high of 34.72 at the opening, only "Swing Trader" is a buyer at 34.72 or lower.


Trade Summary - March 1, 2010

Feb 26 Buy PCLN @ $224.70 ...... Stops @ 227.64; Target @ 250.00

Week's Recap

No trades
 
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