Tuesday, May 28, 2013

Memorial Day Madness Watchlist 5/28/2013

Memorial Day Madness Watchlist 5/28/2013

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RECAPPING Last Weeks Winners and What Were Watching This Week

We had a couple things happen last week to move the markets. We were on alert for a retracement so it was no surprise. Opportunity. Bernanke Spoke Adding to fears he will be unwinding soon and Japan Had a Sell off so we will look for some opportunities there.

We are still watching the S&P for direction.
Looking at the SPY Daily Chart We See 2 Trader pivot points at the 163 level, if we gap down to that level in the premarket, we will be looking for long positions.

We alerted this as a short play last weekend and it was just that, closing down exactly $10.00 from last weeks $239.00 closing and hitting a low of $221 for a potential 17 point Gain!
May 240 Weekly Puts gained 192%.

$CLNT 181% Gain. Pullback Watch. 3.34-10.85 Was the Winner of the Week Racking Up 181% Gains for Members. She didn't quite hit our upside target but who can complain with a 181% Gain??

We are looking at the 7 area for a reversal, so pay attention to her retracement this week. I will be a waiting to take advantage of the next run up.

$OCZ 26.2% Gain. Breakout Watch. 1.18-1.49, Radar OCZ for More upside. I think she is close to a Breakout here. 1.16 is our support. Upside targets are the daily 200ma or the top of the gap around the 3 area imo.

$MDR from last weeks watch, 8.86-9.24 monday gain and still holding the monthly 200ma support closing friday at 8.92. We still like the set up and looking at 9 calls depending.

$MBLX 1.73 We are looking at again finding support at her daily 200ma and weekly 50ma. Previous 66.4% Alert at 1.55-2.58.

Looking at these Possible Reversal Trades.

13.29, Earnings miss and multiple downgrades are overdone imo. We put on reversal watch with a support of 12.28. Trading flat but long as she holds support she will move north at some point. 14 calls showing some interest.

39.19 Another Earnings miss and way Overdone imo. Shes now holding the weekly 200ma support which she has to hold and 40 calls showing action so we will wait and see what monday brings.
These bottom plays can be very rewarding. Remember $NTES we gave you off the weekly 200ma months ago? Look at it now..

Trading Ideas Off Last Weeks Japan Sell Off

$EWJ11.40 Japanese Index. EWJ dipped to 11.14 and bounced back closing friday at 11.40. We are looking at a reversal here, staying in the money. 12 Calls are Hot!

$MTU Mitsubishi Financial 6.09. Another We have a pullback to the daily 100ma thus far. Could see more possible downside and looking at the 5.60 area for a possible reversal.

$FSLR 51.55 has been one of our big Money makers in 2013. Weekly chart is very strong and last week in a down market we saw FSLR retest and hold the 23.6% fibonacci retrace line at $50.00. Next upside target is the 38.2 fibonacci line at 74.00 area but we are looking at technical resistance at the mid fib area at 62.00 for this weeks target area .

$AAPL 445.15 has been in a tight trading range this past week and right now she sits in no mans land, so watch for a premarket move either to support of resistance for a trade this week.

$SHLD 49.07 Great short earnings play from last week. See annotated chart for a short to continue.

Disclaimer http://bit.ly/WKD3wC

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