High Probability Setups – Week of 1/3/11

INTC
Started position on 1/31/10 and am looking to add if there is no breakdown. The stochastics are turning up and the underlying has been resting on the upward TL for 6 days.  It’s holding the 50 ema with strength as well.

LLL
Will look for an entry when the stochastics pull back more.  Probably Wednesday.

MU
I am anticipating a continued move this week.  Looking to enter this in the morning on Monday.

S
This is a common breakout pattern called a falling wedge.  I have found that sometimes it takes a while to play out but when it does, the move can be explosive.

WLP
This is another stock that will have an entry midweek although a small scale in on Monday or Tuesday would be a good idea.

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Thursday Trades

THURS

IN
BBD – Added to position.
V – Swing trade. Picked up at lod.
IEF – Added to short position.

OUT
SHLD – Cleared off before expiration.
SPY – Will reenter short later.
KR – Took profit.
WLP – Cleared off before expiration.

Portfolio

High Probability Setups – Week of 12/13/10

LVS

  1. Trend line retracement
  2. Convergence with the 50 ema
  3. Oversold stochastics

Will look at adding to my position at the intersecting point of the TL and 50 ema.

SHLD

  1. Falling wedge
  2. Holding the 20 ema with strength

Mental stop set below support levels of around 63.

WLP

Nice trending channel.  Will continue to watch this trade play out.  Looking for a break up to 60.

 

Wednesday Trades

WED

IN
WLP – Excellent levels. Started position.

OUT
KMB (1/2) – Took profit.

Portfolio