Broad indexes closed at new highs on Friday after a strong second week of earnings season. Week three starts today with a large number of companies reporting. We have listed those that are of particular interest from the INDU, NDX and other watch lists.
UAUA, LCC and CAL merger news suggesting that UAUA and LCC will not merge and that a combination of UAUA and CAL is possible but that stock price is a significant issue. Reportedly CAL wants to use the pre-rumor price when UAUA was lower. LCC and AMR may be is discussions.
Look at these Charts
(click image to enlarge)
Monday – CNI, DD, HUM, JEC, KSU, EL, LXK, MHP, NOV, ODP, RSH, SWK, TSM, TXN
Tuesday – MMM, AFL, DOW, F, FUQI, JBLU, LIFE, MHS, NEM, NSC, NUS, PNRA, LCC, UAUA, X
Wednesday – AKAM, ATI, APA, BIDU, BKC, CME, CERN, CLF, COP, ESRX, DAVE, FSLR, GMCR, HES, ILMN, K, LOGI, ORLY, OII, POT, RCL, HOT, VAR, VRSN, V, WLT, WLP, XLNX
Thursday – AET, AEM, AGN, AMX, BDX, BMY, CAM, CELG, CVX, XRAY, DLB, EXPE, XOM, JRCC, KLAC, MXIM, WFR, MET, PG, SPG, SWN, VPRT
Friday – AVP, DISCA
The short term is up and the intermediate term and long term trends are up.
Trade those charts that meet your rules in the direction of the trend.
The Euro is down 13 pips in overnight trading. Oil is up 22 cents in electronic trading.
SPY is up 9 cents in pre-market and XLF was up 5 cents on Friday. Watch XLF as a key to any sustained move in the SPX.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,200, 1,178
Resistance = 1,220, 1,239
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
BBY –
CREE –
UAUA –
SNDK –
AAPL –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
2 comments:
Dave Discipline is such a major key - have a plan and follow it. Both my paper account and real are responding to what I have learned from you - thank you for your continued efferts. Im looking forward to ATA in Seattle in Sept and hope your there as well.
Hi Dave,
On Friday you gave a list of stocks that you removed from the watch list. Would you please explain what criteria you used to remove the stocks. Many of them are still in a nice uptrend. Did they reach their target, over extended...???
Thank you.
Karla R
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