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Realtors and Materials are on fire this morning. Out of most things I see doing well, these two groups are house-holding the majority of them. I put together a ton of symbols to watch this week for support bounce opportuinities or stocks making a quick turnaround. Here is a short-list if you'd like...

HYSL, AAPL, AKAM, CUX, DECK, CMCSA, PVH, ATI, INFY, KIM, GRP, CMC, AEM, MLM, TS, ESV...

As I was running through the watchlists this morning, these were some I jotted down as "interesting." Feel free to add to this list if you'd like. In fact, if you take a symbol, try and leave one in return.

Hello all,

Some interesting 52Wk highs breaking out today:

MAC
REG
PSA
VNO

Any thoughts ?

-Mark M.

Keeping a close eye on JWN, earnings today.

Sarah

Don't forget anything related to steel...

X, OS, IPS, STLD...etc.

Hey Jeff...Do you normally wait until near the close to place some breakout trades or do you enter them when you find them? I've seen some that look like breakouts...they even have higher than average volume intraday but still at the close they pull back down. Thanks in advance.

Tom L.

LRCX ( a little light on vol )
LAUR ( light volume )
SUPX ( nice break out )

LSS making a triangle. Potential $11 when it breaks.

Karl

I would like to alert everyone's attention to AMLN as well. The stock is breaking down below a long-term diagonal trendline on huge volume today.

Other trades I took today:

NEW - successful retest of a descending triangle breakdown.

MLM - jeff pointed this out, but it's a great retest of an ascending triangle breakout

eye - support bounce / "potential" Inverted Head & Shoulders (if it can break 42).

Short-term Target on bounce = 42

Pattern Target (if confirmed) = 46-47, to fill gap.

Stop = 38

Larry

I am new to options. I am watching OS. Can someone tell me if they would take this trade today? What things should I be looking at?

Anna

like CROX, VNO, LIZ, VTS

good luck.

p.s. with this being a holiday week, do you think volume could be light for the week?
thanks Jeff!

Another late-day gem: WAG has just confirmed a descending triangle breakdown. This has been a terrible stock, money flow has been terrible, and volume has been huge on down days. You can get some cheap $40 puts also.

Looking at a potential play on IRM (IROM Mountain) on a retest of resistance near $43. Stock originally broke out on 11/17/06 with decent volume.

Did anyone take a trade on athr today?
Debbie H

I'm already in one, Debbie.

I seem to sit around and watch and wait too long. I can't make myself get into any trades. do you think this one is too late? Thanks for your speedy reply Brett, your posts are awesome!!

Debbie H

No, i don't think it's too late to take a trade on ATHR.

Might have to wait until tomorrow though!

Do you think ATHR can reach it's $28 high of APR 06?

What does the group think about DE? Nice ascending triangle forming at its all time previous high. Could be a 12pt move.

Regards,
Rick D.

Is anyone currently in a trade for POOL? Symetrical triangle breakout last Wednesday...

Toni,

Anything's possible, but my minimum target is $25.50 or so.

Rick, I don't see an ascending triangle on DE. I do see the horizontal resistance level, but not the higher lows required for the triangle. Nevertheless, if it breaks out, it breaks out.

Rick, i wasn't very clear. Yes, you could probably loosely call that a triangle, but the points don't really line up as nicely as you'd like them too.

You've got a low on 10/20 and a high on 10/26 that don't quite reach the right levels.

I am in both POOL and ATHR ;-) Lost $$ on both today, but that is OK. DE reports tomorrow. In the past I have seen the beat expectations and the stock has tanked for a day or two. Also the other missed and the stock has gone up. MAN I have lost money on that stock, way more than I have made.

Tom D

I held on to my option on jwn through today. it was down 160 at the close. the earnings came out this evening and they seem great. Will it turn around tomorrow?

Bruce, it's $48 bid in the premarket. Looks like your gamble paid off.

Stocks to share with everyone....
OS
DE
ATI
JCP
STX

Lower volume stocks:
LAMR
CEG
MTW
CEPH
AG

Danuta

Hi all,

Stumbled across this one this morning while browsing news on other stocks. PEIX, looks like an inverted head and shoulders with volume increasing through the last shoulder. Announced good earnings last night so may see a pop today.

MikeH

Nothing runs like a Deere! (DE)
I'm not in it yet. If I was, that morning drop would have been character building! May get in by closing.....
Rick D.

Rick-

Thanks for bringing my attention back to DE today! I got in around $93.30 or so. Hope you did too. This one's looking to grab $100 around the neck.

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...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT... ...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...I'M AN OPTION ADDICT...

About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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