Sunday, June 10, 2012

Week of June 10, 2012

Futures are way up tonight, so we should gap up tomorrow. The key level is 134 on the SPY and we'll probably gap above that. I'm not going to chase such a big gap up, but I wish I was more long in my acocunt! In any case, I'll be looking for dips to buy and particular stocks that breakout on volume. Breakouts should have lots of follow-through on monday!

I'm not posting any charts, but here's some sstuff I'm watching: Long: HUSA, ZNGA, RCON, GTIM, ROYL, GNE, NCIT, ONTY, ARNA, SGI, RST, END

I like the small caps on big up days because they can run 10-15% if there is decent follow-through!

Good luck!

Thursday, June 7, 2012

Update June 7th, 2012

The market has bounced nicely off the ~127 level on the SPY. We had two big up days on tuesday and wednesday this week, and then an almost 1% gap up today. I took most of my profits on my longs right at the open and in pre-market this morning, but I should have just taken them all off! Anyway, I'm looking for some consolidation/digestion in the next couple of days, and maybe the formation of an inverse head and shoulder on the indices. See  possible scenario on the chart below:

I don't see much in terms of actionable setups,  but here's a few stocks that I'm watching: RST, END, SGI, PVA, FB, VHC, ARNA, BVSN, HGT.