Sunday, June 5, 2011

Weekly Swing Watchlist 060611-061011

Risk Management
*Yes lots of recycled names here but lots of relative strength

APKT- Still looks bullish just consolidating... Reminds me of "Waiting for Godot"

30 minute

CRR- A right here right now if market bounces setup. Right at TL support and the 50 SMA. Easy to define risk with a stop if it loses 142'ish or the 50 SMA with a conservative 160 target. Still has the bullish volume pattern but lagging indicators like MACD & RSI are still a non-confirm. Looking at June 160 calls.


EXPD- This is a support bounce play here with the 200 SMA, key level and lower BB lining up. On the daily this looks like a potential inv H&S setting up. Ideally you could take this at 50 with a possible .50¢-1 point stop looking for at least 52 around the 50 SMA and TL resistance.


IWM- Will probably take 80 with a possible 50¢-1 pt stop looking for 82-83 as conservative targets.


MELI- Relatively strong with a nice consolidation flag being built on the daily. 92.3 is where there appears to be aggressive sellers from the 2 tails. You could wait for a clean break above that or recent high 92.73 or try an anticipatory position around this congestion zone with a possible stop under the 50 SMA. Will probably continue to watch and wait for more possible consolidation and a successful retest of support.


QCOM- Still chugging...


RAX- nice consolidation base being built and starting to trend higher above the 20/50 SMA. This one does it's own thing and is difficult to trade but still looks good.

VRTX- Doesn't look like I'm going to get that TL or 50 SMA test. Setting primary alert for a dip back to 53 with a probable .50¢ stop looking for 60. Also setting a second alert for 55.5 or a break above the 20 SMA with a stop below the day's low that it goes.


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