Monday, December 6, 2010

Game plan for tomorrow...

Well as you may know if you follow my blog, I am currently long the RVBD Dec 18 $36.00 Call Options. I was sitting on a huge loss at midday but RVBD rallied nicely into the close of trading to reduce the amount of my deficit.

Although my buying power is tied up in RVBD, I have prepared a game plan for tomorrow in the event that I am stopped out of RVBD. Should this happen then I will have buying power available as well as one day trade. So in addition to the swing ideas I look at when I have no day trades available; I will also be looking at some day trading set ups.

My swing trading ideas include long CRM, NFLX and AMZN. All three are setting up to break out from bull flags.

My day trading ideas include on the long side: rare earth plays REE and MCP; SCOK, RIMM, FOSL, GS, PAY and short JKS.

The markets are very bullish and the indexes that have'nt yet broken to new highs are threatening to do so. If this were to unfold tomorrow then I will get long with conviction if stopped out of RVBD.

Good luck and good trading!

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