6 stocks ready for big intraday moves
Dave Floyd is a professional FX and stock trader based in Bend, OR and the
President of Aspen Trading Group. Dave’s approach to FX combines technical
and fundamental analysis that results in trades that fall into the swing
trading time frame of several hours to several days. For a free trial to
Dave Floyd’s Daily Forex Alerts
Looking Ahead To Tomorrow
Below is a quote I sent my clients this morning right at the opening:
“While the S&P’s are set to open a bit higher this
AM, based on yesterday’s close we would now see that 1181 is the target price
over the next day or two. This is based solely on our read on the 60-min chart.
Intra-day levels are seen at 1185, 1195, 1201″
If this forecast continues to play out, here are the stocks we would be
watching for good set-ups on the short-side. as well as a Rubber Band Long
trade.
‘Short’ Continuation Trades Worth Noting:
LEH:Â counter-trend rally towards $111.10-30 should be solid
resistance, targeting $109.35
BRCM:Â counter-trend rally towards $44.10 should be solid
resistance, targeting $42.85
Rubber Band Trades:
‘Long’ Continuation Trades Worth Noting:
TXU:Â solid support at $107 should allow for this minor pull-back
to continue higher towards $110
As always, feel free to send me your comments and questions.
Dave Floyd is a professional FX and stock trader based in
Bend, OR and the President of Aspen Trading Group. Dave’s approach to FX
combines technical and fundamental analysis that results in trades that fall
into the swing trading time frame of several hours to several days.