Thursday, May 16, 2013

FLO short

FLO short was a better play, I played it long and did't work for me, apart from a short burst of profit. But generally I do not like the pattern and should not have played it.

CSCO Long

CSCO long play was possible today, i don't play cisco since the movements are not there for such heavy weight players. But one could play it on 5 min chart as shown. The support held giving another possible 2nd entry. I did not play it since the gap open was too big for me.Already 10 % up and on csco, this is big due to its market cap.

CBI Long Play

CBI long play, not one of my favorite pattern. i called this play today in stocktwits and twitter and this is how I played it. Generally do not like when the 1st bar is red on a gap up chart.

CAT swing long

I want to re-iterate that I still like CAT long for a swing trade. It did fall below 88.3 , 200 days moving average but is kind of holding here. If it rebounds one can look to buy above the 200 days moving average. This has a potential target of 100, 110

BMY short

BMY short that I did not like, but these are opportunities that one can play. I don't like it because the gap was in the middle of nowhere, 2ndly the 1st 5 min bar was an up bar and followed by another up bar, no weakness shown. Then it starts to fall and on confirmation one could have played it.
i don't like such plays and I did not play it.

ARRS counter trend

Check out the counter trend play on ARRS. See how the support held and it never showed weakness on the 5 min chart. These can be played against its trend.

FFIV 84support

FFIV was a short for a quick cover when it did nto fall below 84. When the 84 support held so strong, it was time to reverse and go long over the consolidation.
See how it worked out beautifully. With 84 as stop, sell on prior high.