COF has more than filled the gap that occurred back in Aug/Sep. I like the chart to go long, but the will more than likely be some retracement short-term. I definitely wouldn't short the stock rather wait a few days and let it play itself out. If it breaks through 66.50 area it could easily test last May's high. If a $2-$3 pullback happens I might consider going long for a swing trade.
OPWV....If this stock tests $5.50 I would still hold short. LWIN is continuously testing it's support. If it breaks support watch out....this stock could drop fast. Be attentive to this one in particular due to charting indicators and the fact the LU and the telecom sector in general has forecasted a slower than expected 3rd and 4th quarter. There can be some quick money made if this stock holds true. CRUS and OVER are good shorts as well.
Interest Rate Jitters Punish Stocks Stock prices fell on fears of rising interest rates after the Fed served notice yesterday that their agressive easing campaign has come to an end. Intel fell after one brokereage cut its earnings estimates and Bristol-Myers Squibb suffered from disappointing results in clinical trials of its new heart medication. The Dow Jones Industrial Average fell 134 points (1.3%) to 10,502, the S&P 500 index lost 18 points (1.6%) to 1152, and the Nasdaq Composite plunged 48 points (2.5%) to 1833. Airline and computer related shares paced the broad based decline. Volume was moderate with 1.3 billion shares trading on the Big Board and 1.6 billion shares changing hands on the Nasdaq. 10:30:31 AOL SHORT 2000 25.24 -0.06 PQE BOT 1700 40.24 +0.61 Overnights: LU BOT 4000 4.55 -0.11 BBH BOT 1000 127.47 -3.07 HET BOT 2000 42.92 +0.53 IBM SHORT 1000 106.61 +0.02 MLNM BOT 2000 22.60 +0.76 DNA BOT 2000 51.97 -0.24 ADBE BOT 2000 39.65 -1.30 CLOSED P&L: $0 OPEN P&L: $2,080 TOTAL CLOSED P&L: $14,381
Jobless Claims Fall, Inflation Still Tame US equity index futures are pointing to a flat to slightly higher open as initial jobless claims declined by a larger-than-expected 12,000 and the February CPI generally matched expectations. Corporate news is limited this morning, while US Treasuries are lower and European markets are mostly higher. I will post my plays after market open.
Closed 4,000 long LU @ 4.65 for profit of $400.00. I'm glad to get out on the + side after seeing how quickly LU dropped yesterday. I stll think it's a good "investment" but not as a short-term swing play. I will post my opening traedes for the day soon.
SBUX - Buy Stock advanced out of 2 month consoidation base. Support @ 23.70 Target @ 29.75 HD - Buy Stock bounced off double bottom, MACD bullish crossover Target @ 51.80 Tight stop @ 48.30 WCOM - Buy During stong down day, WCOM closed up on day and above bearish support line. Support @ 6.05 Target @ 8.60
I was looking @ HD also, another inverse head and shoulders. I'm testing a new RS indicator and it basically tells me theres more upside in COF, wish I would have looked at it earlier as I was shorting it in the 61 dollar area, but fortunately I got out with a small profit after some pain.
Closed ADBE long @ 38.94 (avg) for a loss of $1,420. Opened long 2,000 HD @ 48.62 Opened long 2,000 SBUX @ 23.63 Still watching WCOM...I want to buy in on a dip over the next day or two.
Closed 2,000 Long AOL @ 24.24 Profit: $2,000 I think the Dow is due for a short term rally soon so I'm happy with a point in one day. I still like my short on IBM regardless how the Dow reacts.