6/21/2010 gameplan | Bulls on Wall Street

6/21/2010 gameplan

 
 
 stocks, commodities..the market all gapping up on China’s decision to let the Yuan gain strength (just 1-2% most likely which in the scheme of things is crap)
 
remember folks. We are mostly in a news driven market… When the market goes up everyday the news is usually favorable and pushes the market higher…  When tanking everyday you ususally see crap news at night and teh market gaps and finishes lower.
 
We have made a lot of progress last couple weeks. Hopefully everyone has made their money back and another 5-10% for spending cash.  Its still time to trade light.  I am starting to hold positions overnight but still not going “all in” on positions.
 
 
 
after todays gap up..we will be right near resistance and overbought.  so expect a little push and pull. Very rarely do you break through heavy resistance the first shot.  Look at the 200dma it took 5-6 tries.  I dont expect this one to be has difficult but you have to be prepared for small pullbacks and multiple “taps” against the 50dma thats the way true bottoms are formed.
 
 
 
 
 
$axas i like this on break of old highs 3.15 area.  its gone straight up. ideally 1-2 days of sideways movement before attack of highs would be ideal.
 
$inhx this looks ready. Im gonna look for volume and bids to come in. 2.8-2.9 area looks to be the buy.
 
$hgt good breakout pullback swing play.  a dip close to 21.00 with a stop at 20.50 is good risk to reward 
 
$gmxr if it can get past this 8.00-8.10 resistance it should run to at least 9 bucks. This stock is beaten down but has tons of assets. Good oil & gas play
 
I also like $tiv and $vtg for smallcap oil plays.  There charts are tricky so there is no point of posting them.  Ill know when they are ready to run but the charts wont tell us as they are butchered.
 
 
 SPRT gonna go maybe today..check this 
above 4.50 we are good! 
 
 

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