It’s buy the dip until it’s not. The last 9 of 10 Mondays have been red and they have all been opportunities.
The four most expensive words in the English language are: “This time it’s different.”
LONGS:
ISRG – Showing gap resistance at $518. If we clear that with volume (continuation from Friday) I am expecting a gap fill.
WYNN – Nice bull flag or consolidation pattern here above the moving averages. A break higher could lead to filling those gaps.
VRSN – Still working with in this ascending triangle. If you choose to take a long position in this one keep a tight leash on it.
VMW – Nice hammer off the 8ema. Volume by price resistance near the $103 level, watch the volume there for an upside push.
EOG – Ascending triangle inside of a larger ascending triangle. Long term resistance at $119.90.
IBM – Consolidating below $208.70 resistance after a strong run. Near term target of 210.69. I’ll be watching the volume from Friday as a hint to direction.
JPM – Bull flag on lighter volume. Looking for $43.
PCLN – Watching this descending trend line with volume for the trigger.
V – Consolidating below recent highs and riding up the 8ema.
FOSL – Gap resistance at $93.60.
EL – Watching $62.00 with above average volume for a breakout trigger.
Shorts: (There will be more when the market calls for it.)
ORLY – I entered this one early last week via put spreads and have been wrong so far. As long as it’s trading below this descending trend line I am going to let it ride.
Going up
When coming down,
@AffluenzaVirus
*General reminder – The charts in my watchlists need to be tiggered by price action & volume.
