| Mar 8, 2010 |
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Daily Insight - March 8, 2010 3:30pm With the fact that Friday's up spike is not negated today, we can almost "smell" that higher prices are forthcoming. No problems for now as the COMPX makes new highs and "all systems are Go!" "Day Trader" had no trades with CSCO but it has unfolded as anticipated nor AA as it opened above Friday's high. He will discuss his selections after the close. Swing Trading - March 8, 2010 3:30pm LXK is still on the cusp of staging a Day-1 breakout spike and with the stock "consolidating at the highs," higher prices are expected. "Swing Trader" will maintain all positions, stops and targets.
After 4:00pm - March 8, 2010 Broad market index SPX.X is seen below "consolidating at the highs" of Friday's vector and should soon challenge new 52-week highs. What we didn't want to see was a negation of Friday's spike and as this did not occur,higher prices are anticipated.
Tech and bio-tech index COMPX has made another new 52-week high and should continue to its upper TFTF boundary at Tuesday's projected level of 2370.00. Techs are mostly moving well as a lot are spiking upwards while the rest are seemingly in consolidation patterns.
"Day Trader" will buy NKE at Monday's high or higher as long as it opens under this setup price. Illustrated below is how the stock is ready to stage a Day-1 breakout spike as it edges into new 52-week highs and about to resume its defined uptrend.
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) |
