Trade Setups

TEVA rallying on weak volume into resistance Stock: Teva Pharm (TEVA) Long or Short: Short Entry Range: $38.05 – 38.25 Stop-Loss: $36.12

ServiceSource Int’l (SREV) breaking out of consolidation into the gap Stock: ServiceSource International (SREV) Long or Short: Long Entry Range: $6.03 – 6.06 Stop-Loss: $5.83

NFLX sets up nicely as a swing-trade short setup.  Stock: Netflix (NFLX) Long or Short: Long Entry Range: $91.00 – $90.50 Stop-Loss: $95.55

I’ve taken a long position in BUD, but may add 1-2 short positions in the next day or so.  My entry in Anheuser Busch (BUD) at $88.99 happens just as the stock is on the verge of breaking out of some major consolidation of late. The second position, Clean Energy Fuels (CLNE) has failed yet

Markets & stocks sky rocket through multiple resistance levels. This is a tough market to trade. I hate to jump in front of a freight traing and try shorting it, but I’m also leary of what we are seeing with the SharePlanner Reversal Indicator and notion that often times major news pieces represent market tops

VMC Consolidating at the highs with a bull flag pattern.  Stock: Vulcan Materials (VMC) Long or Short: Long Entry Range: $53.01 – $53.25 Stop-Loss: $51.33

WYNN in a holding pattern before breaking out  Stock: Wynn Resorts (WYNN) Long or Short: Long Entry Range: $113.50-113.75 Stop-Loss: 110.40

Pre-market update (updated 9am eastern): Europe is trading 0.1% higher. Asian markets traded -0.3% lower.  US futures are flat ahead of the open.  Economic reports due out (all times are eastern): GDP (8:30am), Jobless Claims (8:30am), Corporate Profits (8:30am), Existing Home Sales (10am), Philadelphia Fed Survey (10am), FHFA House Price Index (10am), Leading INdicators (10am), EIA

My potential swing-trading setups I’m watching We are about 30 points off of the lows that were established on Friday, so I wouldn’t be overly surprised if we pulled back even if it is just intraday before marching much higher again. It’s also the reason why I have been hesitant to add any new long

ADS breaking out of ascending triangle pattern  Stock: Alliance Data Systems (ADS) Long or Short: Long Entry Range: $144.90-145.30 Stop-Loss: 142.16