We are looking at BJ as a potential bucket 2 long trade for next week. The chart speaks for itself. A private equity firm is said to be bidding for BJ ($3 billion plus), so take that into consideration. More on this tomorrow.
If you don't, in the Trading Plan we lay out a high probability strategy using options. The strategy works over 75% of the time when a stock had a big drop. Get your copy of the Trading Plan if you're interested in this and other high probability trading strategies. Happy Trading Serge WWW.THESTEADYTRADER.COM
If you measure the technology sector by the popular SPDR ETF called the XLB, the sector is not only 25 cents away from new 2011 highs, but also from fresh 3.5 year highs. From a technical analysis perspective the inverted head and shoulders pattern (see white bubbles on chart) is working out well and if […]
AMZN has been a rocket ship after announcing earnings last week. Most notably it broke above the key resistance area of $192 on good volume. We are expecting a little consolidation here before the stock heads to higher levels.