Intraday/Swing Plays

The trend lines are not drawn correctly, but that still won't matter. This stock is to volatile and cheap to chart with any significance. A few investors/MMs can make this stock move any way they want. I definitely would not use TA on these type of stocks. IMO

 

Actually, here is a P & F chart with correct downtrend line drawn and it hasn't been broken.

 

Expect weakness to continue today. All major indicies hit lows for Apr. while the SOX dragging down the Naz.

Support Dow: 10,000
Naz: 1,700
S&P: 1,075


MER - Short
Stop: $49.75
Target: $43.00
After failing to make news highs MER appears to begin penetratig below the old support level.

 

Nice, you caught a break not getting executed yesterday! Thats a few more grand in your pocket. Good for you!!

 

I'm going to hold these SOX puts for a while longer since we just broke support on the DOW and Naz. I might close a couple contracts later today.

 

CORRECTION: Target on MER is $41.00

 

Where do you see the next support on the DOW? Seems quite a way down, on PnF chart I have 9925 where we are sitting now!

 

Stopped out @ open on 2,000 CKP @ 16.32

- 2.18 points

 

DOW: New support @ 9,925
2nd support @ 9,700 area

 

Covered 2,000 MRK @ 55.38

+ 1.00 points