Focus List 4.26.12

614 views

I was pretty impressed with the SPX close at the end of the day. I can certainly feel some underlying strength in this market, but I am still considering this market in a correction until the buyers step back in with heavy volume.

Found some great looking charts this evening after running my scans (longs & shorts).

One of the first trades I plan on making tomorrow is starting a Buy-Write in $ARNA. It closed today at $2.10 and I would like to start a long position at $2.10 or cheaper while simultaneously selling May $2.5 covered calls that closed the day bidding at .61! Delta is .35 and Theta -.005. Be aware this stock has earnings on May 8th and routinely disappoints.

Longs:

ITRI – Poised to clear this descending trend line. Watch for above average volume for a breakout.

ALXN – Working higher off this ascending trend line. Nice risk/reward entry here.

WYNN – Nice consolidating pattern. Watch volume and price action for a breakout to higher levels.

RTN - Holding this one from last week. Breakout watch above $53.15 on heavy volume. Waiting.

PII - Watch this for a move above $81.40 on above average volume.

CVS - Another low risk/reward trade off this ascending trend line.

COV - Watch for a break above $55 on heavy volume.

The scan found fewer solid short setups, but the risk/reward is heavy to the downside.

BLK - Notice this bounce has been on much lighter volume. If buyers don’t step in soon this one will see lower prices.

CMG – Same bounce on lighter volume. This one has been a winning short for me this week. 

ROK –  Lost support on about 300% average daily selling volume. I expect this one to head lower.

Take note of PCLN – Closed above the descending trend line. Risk/reward to bullish, in my opinion.

Trade safe,

@AffluenzaVirus

17 Responses to “Focus List 4.26.12”

  1. FDA meeting on ARNA 5/10. Be aware.

  2. PCLN – I’m long. Are you highlighting the name as a short canidate? Because I was playing for a thrust higher of sorts.

    I’m not understanding your commentary. Could you restate your thoughts for me?

    • affluenzavirus

      Apologies for not seeing this earlier. Sorry for the confusion, PCLN was NOT in the sell short category. I just found the chart interesting. I was bullish for a momentum follow through today due to the fact that it closed above the descending trendline. (Bullish).

      ..As mentioned in the post, “Closed above the descending trend line. Risk/reward is bullish, in my opinion.”

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  6. AffluenzaVirus

    Apologies for not seeing this earlier. I need to make a better effort on checking back for comments. Thanks for the thoughts, guys.

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Comments are closed.

Focus List 4.26.12

614 views

I was pretty impressed with the SPX close at the end of the day. I can certainly feel some underlying strength in this market, but I am still considering this market in a correction until the buyers step back in with heavy volume.

Found some great looking charts this evening after running my scans (longs & shorts).

One of the first trades I plan on making tomorrow is starting a Buy-Write in $ARNA. It closed today at $2.10 and I would like to start a long position at $2.10 or cheaper while simultaneously selling May $2.5 covered calls that closed the day bidding at .61! Delta is .35 and Theta -.005. Be aware this stock has earnings on May 8th and routinely disappoints.

Longs:

ITRI – Poised to clear this descending trend line. Watch for above average volume for a breakout.

ALXN – Working higher off this ascending trend line. Nice risk/reward entry here.

WYNN – Nice consolidating pattern. Watch volume and price action for a breakout to higher levels.

RTN - Holding this one from last week. Breakout watch above $53.15 on heavy volume. Waiting.

PII - Watch this for a move above $81.40 on above average volume.

CVS - Another low risk/reward trade off this ascending trend line.

COV - Watch for a break above $55 on heavy volume.

The scan found fewer solid short setups, but the risk/reward is heavy to the downside.

BLK - Notice this bounce has been on much lighter volume. If buyers don’t step in soon this one will see lower prices.

CMG – Same bounce on lighter volume. This one has been a winning short for me this week. 

ROK –  Lost support on about 300% average daily selling volume. I expect this one to head lower.

Take note of PCLN – Closed above the descending trend line. Risk/reward to bullish, in my opinion.

Trade safe,

@AffluenzaVirus

17 Responses to “Focus List 4.26.12”

  1. FDA meeting on ARNA 5/10. Be aware.

  2. PCLN – I’m long. Are you highlighting the name as a short canidate? Because I was playing for a thrust higher of sorts.

    I’m not understanding your commentary. Could you restate your thoughts for me?

    • affluenzavirus

      Apologies for not seeing this earlier. Sorry for the confusion, PCLN was NOT in the sell short category. I just found the chart interesting. I was bullish for a momentum follow through today due to the fact that it closed above the descending trendline. (Bullish).

      ..As mentioned in the post, “Closed above the descending trend line. Risk/reward is bullish, in my opinion.”

  3. We’re a bunch of volunteers and opening a brand new scheme in our community. Your website provided us with helpful information to paintings on. You have done an impressive job and our entire group may well be grateful to you.

  4. Oh my goodness! a tremendous article dude. Thanks However I’m experiencing challenge with ur rss . Don’t know why Unable to subscribe to it. Is there anyone getting similar rss drawback? Anybody who knows kindly respond. Thnkx

  5. After study a few of the weblog posts on your website now, and I truly like your method of blogging. I bookmarked it to my bookmark web site record and shall be checking again soon. Pls take a look at my web site as properly and let me know what you think.

  6. AffluenzaVirus

    Apologies for not seeing this earlier. I need to make a better effort on checking back for comments. Thanks for the thoughts, guys.

  7. After study a couple of of the weblog posts on your website now, and I really like your way of blogging. I bookmarked it to my bookmark web site record and can be checking again soon. Pls try my website online as effectively and let me know what you think.

  8. Fascinating blog! Is your theme custom made or did you download it from somewhere? A design like yours with a few simple adjustements would really make my blog shine. Please let me know where you got your theme. With thanks

  9. Say “thanks” you to your parents which they gave you the world

  10. The core of your writing while appearing reasonable initially, did not sit very well with me after some time. Someplace within the paragraphs you actually managed to make me a believer but only for a while. I nevertheless have got a problem with your jumps in assumptions and you would do nicely to fill in all those breaks. In the event that you can accomplish that, I would surely end up being impressed.

  11. Hi, I do believe this is an excellent website. I stumbledupon it ;) I may revisit once again since I saved as a favorite it. Money and freedom is the greatest way to change, may you be rich and continue to help others.

  12. In this grand scheme of things you’ll get an A+ just for hard work. Where you actually lost me was first on all the details. As people say, details make or break the argument.. And it could not be much more accurate right here. Having said that, allow me reveal to you what exactly did deliver the results. The article (parts of it) can be incredibly engaging and that is most likely why I am making the effort in order to comment. I do not make it a regular habit of doing that. Next, although I can easily see the leaps in logic you make, I am not necessarily confident of how you appear to unite the details which inturn make the actual final result. For the moment I shall yield to your point but wish in the future you actually link the facts better.

  13. Hello there, I just read the weblogs on a regular basis. Your humoristic style can be humorous, keep doing what you’re doing! I’ll right away grab your current rss because i cannot find your own electronic mail membership website link or perhaps e-newsletter services. Are there any? http://www.autoglassrepairhq.info

  14. Thanks for the tips you have provided here. One more thing I would like to say is that computer memory demands generally go up along with other improvements in the technological innovation. For instance, whenever new generations of processors are introduced to the market, there’s usually a corresponding increase in the dimensions calls for of all laptop memory along with hard drive room. This is because the software operated by simply these processors will inevitably boost in power to leverage the new technological innovation.

  15. I simply wished to appreciate you once more. I do not know the things I would have done without these concepts revealed by you over that area of interest. It absolutely was the horrifying matter in my position, nevertheless noticing a new specialized approach you resolved the issue took me to weep over fulfillment. I am happy for your service as well as hope that you recognize what an amazing job that you are accomplishing training men and women all through your blog post. I am sure you’ve never encountered all of us.

  16. Thanks for helping out, good information. “You must do the things you think you cannot do.” by Eleanor Roosevelt.

Comments are closed.