| Mar 4, 2010 |
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Daily Insight - March 4, 2010 3:30pm Markets are still "consolidating at the highs" and this type of activity is usually a "pause" within an uptrend to wait for the rising red-colored midpoints to help "push" up prices. As such, patience is needed as higher prices are expected. "Day Trader" had no trades today and will discuss his selections after the close. Swing Trading - March 4, 2010 3:30pm "Swing Trader" will maintain all positions, stops and targets on LXK as the stock continues to "consolidate at the highs."
After 4:00pm - March 4, 2010 Broad market index SPX.X continues to "consolidate at the highs" while waiting for its rising midpoints. Seen below is how the index is supporting on the 1115.00 trendline as it maintains its defined uptrend.
Tech and bio-tech index COMPX is also "consolidating at the highs" and illustrated below is how it is firm and steady within its uptrend.
"Day Trader" will buy BIDU at Thursday's high or higher as long as it opens under this setup price. Shown below is how the stock is on a defined uptrend and in position to stage a Day-1 breakout spike especially as it is a leading gainer while the markets "consolidates at the highs."
Trade Summary - March 3, 2010 Mar 2 Buy LXK @ $34.72 ...... Stops @ 32.95; Target @ 40.00 Week's Recap Feb 26 Buy PCLN @ $224.70 ...... Mar 3 Sell @ 235.00 (profit taken) |
