Stock pick for 05/02/2012

MENTORING PROGRAM from May 28th - June 8th

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For perfect swing short entry it will be nice that BIDU stay in consolidation few more days, but I think that odds for consolidation are good and because of that previous low will be first target area. We must follow pace and volume and then decide. Monthly time frame chart suggest that we could see more selling pressure during next weeks.

Kind regards

Ivica Juracic

http://www.xpertstocktrader.com/

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Stock pick for 05/01/2012

On declining volume IBM reached previous high and formed possible double top pattern. That is reason why I will follow that one for pull back. But also monthly time frame suggest that CCI divergence could support selling correction and Monday narrow range bar will help us with trading plan for possible good reward. On the other side we can see on the MSFT chart that, also, declining volume forming nice flag pattern and now odds for bounce from 10sma support increase. Again small range bar (narrowest bar in last seven days) giving us opportunity for good reward. Last chart is UA and I will follow that one for short possibility based on upside correction after big red bar. If UA will see setup with that one I will start as day trade and then, depends on pace and volume, we will decide if is good for something more.

Kind regards
Ivica Juracic
http://www.xpertstocktrader.com/

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