Friday Trading Plan (May 15, 2009)

This market is beginning to look like a daytrader's paradise again. I expect the market to keep us guessing again on its next move.

We have Consumer Sentiment and Industrial Production related events on Friday. So I expect AAPL, OIH to move....while I am neutral on the Financials.

The ultimate aim of OpEx for MMs is to profit as much as they can from expired options. So keep a close eye on which stock has more calls or puts...that could be a clue on where the pin is.

The market could pullback a little on bad news, that will be the ideal case because I think the market could be positioning itself for the upcoming FOMC meeting on Wednesday.

I will be watching GS. Stochastics suggest that this stock could go sideways before making any moves.

The IWM chart looks quite similar to GS, so the plan is quite similar. Pick either one depending on your trade size.



AAPL is still in a downtrend, watching out for resumption of the downtrend or a possible trend change.


JPM...Ahh...one of my favourites....simple trading plan



MOS is in an uptrend, possible short or long opportunity...you figure it out yourself! ;)