Watchlist for 3/5/14

FITX - Huge reversal candle today & looks great for to this bounce going into tomorrow. Watch for a break above prior high, FITX has no resistance til .09c so thats where my target is.  HUGE volume today.

ECPN - Broke & closed above resistance today at .24c and is now a pretty wide range stock because next chartable resistances are up in the .30s. Looking for gap & go tomorrow. Good history of 3-4 day runs

HYSR -  on its first real day of trading big volume it say a huge move in the morning but then spent the rest of the day consolidating & formed a 15min bull flag going into tomorrow. Looks good for follow through tomorrow. Blue sky charts, todays high is only resistance.

PPHM - Broke out above a daily chart today & close above it. Looks similar to PLUG’s chart from last week. Could see a big move into the next week or so. 2x calls are going for pretty cheap (.10c) could be worth a play there if not stock.

OPTIONS

BAC - Broke above that descending triangle I highlighted last week & closed very strong at the HOD. Looks great for tomorrow as the banks in general showed some leadership today and I believe many are going to see a return back to highs quickly. I am long BAC & targeting a move into the 17s tomorrow/this week. I am in weekly 16.50 calls

GS - Broke above the bear flag it was in today & saw a huge rally. This is another one we highlighted last week for a breakout above the 166ish resistance well today we closed at 168.73 and has minor resistance at 170 but the bigger level comes in at 174 which could get hit this week. Remember markets are at all-time highs but the banks have been lagging until today, the whole sector could be in a store for a big move going forward.  I am long GS 170x monthly calls.

XOM - Forming a bull flag following its huge rebound off 90 in early Feb but is looking like it wants to extend even higher back to 98.50 this week. Watch for a move above 97 tomorrow for the bull flag breakout. I like the weekly 97x calls

CAT - Bull flagging on the daily chart right under a big multi-year pivot level at 100. I wanna get into some some options for the next leg higher because I do believe we break 100 soon. I like the monthly 97.50 calls going for 1.10. A gap down tomorrow would be my preferred buying opportunity but if that doesnt happen a break above 97.46 would also trigger the trade. I am long CAT stock.

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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