Stock pick for 12/16/2011
Dear traders,
I didn’t find many ideas where I will bring trading plan before the open. I think that short side is higher risk and only what we could get is possible intraday short side only for day trade. I’m not ready to take swing short trade because I like to see more 60 min rest for lower risk. Because of that if weakness will continue my focus will be on intraday setups. On the other side there are no strengths to be more bullish and I will be caution. Generally, indices charts suggest being more patient. We had many calls last two days and now are time to be pickier. Under you will see several ideas and for all watch list ideas I want to see open action first before I will post trading plan. Generally setups are under or above pattern what I draw on line and that is not hard to calculate, but let’s see open first. At this moment I think that we will have slow upside day with choppy intraday action and weak upside pace. That is expectation and market will show us was that expectation right or not.
Wish you all nice trading day and don’t remember that for any misunderstand you can always contact me ivica@xpertstocktrader.com
Ivica
TMO - long
Technical view: I will say that is classic CCI divergence possibility. We can see 60 min consolidation and if TMO will stay in range after open we can use stop under $43.90.
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