Thursday, September 28, 2006

Trading Plan for 2006-09-28

Open Positions

Momentum WatchList

Tonights earnings will move this stock one way or the other. However, the current consolidation area which resembles like a classic DBOX, suggest that the line of least resistance is up. Next buy point to increase positions would be when it crosses the top of the box at around $90 after the earnings of course.

This stock is sitting on the top of the 5 month basing area which is still buyable. If the market gets going, this top growth stock might start running to $70.

There was no joy in momo land for BRCM traders yesterday as it broke above $31 and retraced to the bottom of the price range. Hitting a lot of stops. However, this could still move but might not be as powerfull as one might expect after having based for more than 5 weeks. Buy point is when it clears $31 again.

Swing WatchList

After hitting my stop last week, I know that VIP will be back again in my radar. This time, a classic price pullback which gives me another shot at owning this stock. Buy point is when it clears yesterdays high at $62.05 with initial stop loss at $60.00 giving a risk of $2.05.

ICE - Buy above $72.35 with a stop below $70.50

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