Thursday, March 12, 2009

A few ideas for Thursday (March 12, 2008)

I have been watching a few interesting stocks.

One of them is AAPL, on the chart below...notice how the shorts have to cover each time AAPL gaps up above the congestion zone in squares. There are two more congestion zones above, so keep an eye on those. We probably might see AAPL retrace a bit to the 50 MA, we shall see if not this stock can still run up. Lets see in the morning if there is any gap up to scare off the shorts.



GS is another stock to watch for a gap up or it could keep going up to the 96- 98 range. If not this stock has probably topped for now, then I would expect a retrace back to the 50 then the 200 MA in 3 to 4 days time.



WYNN is probably a good stock to trade when you feel bored with high beta stocks. I like to trade WYNN if I have the free time.....lol.



Here is another, ACE. This stock has a habit of liking to form wedges. If you feel bored with S&P try this for a change....lol

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