Please excuse my recent lack of attention to the market, I moved over the weekend and am still getting settled.
LONGS:
IMAX – Nice bounce off the 200EMA on over 100% volume today. $24.50 with continued volume would clear this descending trend line.
TRIP – New buy trigger of $47.45. Looking for at least 200% volume to confirm breakout.
CF – Nice ascending triangle pattern. Watch $203.35 with breakout volume.
DNKN – Another nice ascending triangle pattern. An up day tomorrow would bring the price into the vacuum to an easy $37+ target.
Some current holdings:
LNN – I bought some LNN last week at $70.15 in this ascending triangle. Nice consolidation on low volume.
ASH – I am long via AUG $70 calls but have a new buy trigger at $70.30 with above average volume. I am looking to average down and/or add to my position there.
EAT – Started small in EAT today at $32.90. I had a buy trigger of $33 confirmed with over 100% volume today. I will add to this one if we pullback to gap fill or retest the 8ema.
SHORTS:
CERN – If we lose this trend line I will look to start a short position. We had above average selling volume today. Also, an open gap at $63.21.
EBAY – If we lose $38.50 the next support is $38 then the gap at $36.28.
Also watching:
TSCO – Nice wedge pattern in TSCO. I think filling the gap at $74.00 is more likely.
I tell you to enjoy life
I wish I could but it’s too late,
@AffluenzaVirus
http://youtu.be/kz_6jagv_D4
