BIIB : Stopped out @ $49.20 on May 13th high was $49.87 for week. This may not have been the best pick and target was optimistic. It however delivered a couple of good trades and could also be scalped between $48.84 - $49.60
DVN: Poked above $65 then proceeded to form the handle Friday close $58.50 Stopped.
IBM: Hit high of week on Tuesday $104.50 below the $105 target. Entered above $101.70 @ $102 on Monday, exited $103. Tues, Wed, Thus did not play Firday again entry on open @$102 for the target of $103
MA: If you took this short below the $185 on Monday and held, you're a happy camper. I'm not that smart. It never went above the $185 for long, so, there was no POP for MA. Shorting below Monday close still netted target of $175.
PNC: Took 3 entries with 2 stops on Wednesday last one paid off with Thursday gap down. Did not go long.
POT: I covered this on my "The Flip Side" article below
PRU: Hit $37 target on the 13th.
SKF: Scalps this week long mostly. As I said the ride up is slow. Snow is melting. May be rock skiing for a while. There's an interesting rhythm forming on SKF which I have to verify for later sharing.
WYNN: Once losing $ 44.00 on Wednesday, 43.40 was just the beginning. she just kept paying below $43.40 to $37.10
That's all.. Hope this week was profitable for you .. thanks for following.
Anni
Update for 5/13/09 (published Tuesday night in sidebar)
- SKF well we have to ride up the hill sometimes! The chairs' our friend ! Nice upside action today for several points. But look at her on the daily, Near the 10dma high today which it's been riding down. As always, be careful of snowsnakes.
- MA no POP on this. (pun intended). May take short below close to about $175 on this on open then enter long on the reversal (if any)
- BIIB We're on the 2nd day of entry holding long for target
- WYNN gave opportunity both ways nearly hitting $50 on Monday at open and nearly hitting bottom @$44.10 today. Look for further down to about $43.40 on the long, above $46 holds promise to $47
- PNC on pullback below downside 43.14 before another pop . Breaking $43, with some congestion to $40; upside to $48, 52, to 6mo high
- DVN at $65 again rim of cup but continued climb will take it to little below $68
- PRU dropped 2 days at open and then sideways.. $37 not hit yet, take a look at the action tomorrow for possible reversal. More downside is it loses the 200 @$38.35 on the daily
- POT b/o of the channel and took flight . Watching test tomorrow for direction. $105, $107, $109 upside above $102. Downside below 99 possible to $97 area
Be careful and be ready for the instant change.. never take for granted that the trend will continue
- POT is in sideways action with some potential scalps between 92-96 depends on open of course
- PRU looks like it needs a pull back but don't argue with the trend $48 , $51, $54 can be next.
- PRU on a reverse has potential to about $37
- CSC still watching . may go short on this one
- FTO long above 16.26 watch $16.85 level if b/o over potential to $19
- DVN above $65 looking long again to $69; but first waiting for a pullback handle to about $57-$55
- PNC if she breaks higher and clears $55, 57 then 62 is possible on momentum of higher volume
- WYNN consolidating for break out or down . above $48.20 to $50 .. below $47.40 to $44
- MA closed at hod Friday watch a pop on this and the $188-189 again.
- BIIB long above 48.84, above 49.50 target $51
- IBM going forward needs to hold above $101.70 target $103 then $105. Reverse breaking $99.63, target is $98
- SKF Then there's our double-black- diamond SKF .. hit below $39 and closed there. Looking for $37, $35 then as low as $31 next
