EDXC - Broke and closed aboved above resistance above .08c today with good volume. Its a blue sky breakout here so I would look for .14c as a possible good target. The key support is at .095 because we traded there for alot of the day.
FLPC - I bought this one at the end of the day because I think tomorrow we could see some good momo. It closed today at its HOD at .0043 and tomorrow we need to see FLPC to break above .0045 (recent highs) . If we can break .0045 with some power the next resistance level is at .008. Must break .0045 early in the morning and must hold above .004 for support.
ECOB - on watch for a bounce play tomorrow. Today we had its first green candle since mid Feb and has established a good support level at .01c. Watching for a snap back to .015-.018 tomorrow.
MCIC - This one got most of its volume at the EOD but it did break above the little bull flag it had on the daily. Now .0135 is the key support level. Watch for a break above .0155 tomorrow, if it does that it could see a run back to recent high of .019. Major concern here is volume because its pretty weak hopefully that can change tomorrow.
CERP - there is a nice wedge pattern here on the daily here and CERP today got above average volume. With CERP getting to the tip of the wedge we could see a break. Difficult thing is it could be a breakout or a breakdown so its best to just wait for the wedge to actually break. If it breaks .04c (top of wedge) I would feel pretty confident to say CERP is ready for another run up to that .06 range.
OPTIONS
S - Sprint has been trading in a wedge pattern since Sept. of 2012 and its really starting to get tight today and some may argue we started to break above the upper resistance line. It really needs a daily close above 6.00 in my opinion before S can really get moving. If you look a more longer term chart we have a big cup and handle formation which if it does come through it should give us a measured move to 8.50s in the next few months. I bought april monthlies 6strike calls for a swing position today. Here are two charts . Wedge http://i.imgur.com/Nyoj86s.png and cup and handle http://i.imgur.com/1zCaao1.png
SPWR - Finally starting to show some signs of life again with some big volume today and a 3% move. The big key here is watch FSLR in addition to SPWR because FSLR argueably the bigger named solar stock is starting to bounce back after getting hit real hard last 2 weeks and if FSLR starts to fill in some gap then I think that will supply more power to SPWR’s move upwards.
SPY/DIA - Watching both of these for a break underneath their prior day low. They haven’t done that all of march so far and might not do so at this week. I wont short (or buy puts) until I see that trend crack. VIX did have a decent bounce today but not enough to really get fear into the markets. Just stalking the trade for now. Who knows, we might trade flat for a few days and consolidate before another leg higher. Be open minded.
Remember this is just a watchlist and do not guarantee to be profitable trades. Use your own judgment when making the trade.
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