Dummy Trade of the Day - VMware, Inc. (Public, NYSE:VMW)
VMW -Mentioned by Alex in the comments this weekend - 3 inside bars on declining volume. Partial booked as price approached R2 and closed balance after price couldn't hold $89.00.
QLGC - C&H on the daily. B&B after inside bar. Thought this one could go higher based on the daily pattern, but it reversed on high volume at the cusp of $14.00.
FRPT - Mentioned by Jim in the comments this weekend and also in the HCPG newsletter. Great start on a break of the inside bar. I don't have much luck with FRPT no matter how perfect the chart looks, every time I get involved, it doesn't follow through.
MTW was a HCPG pick. I missed the perfect entry but did manage to get in on the second wave. Beautiful setup on the daily after Friday's inside bar. Way to go guys!
The first day of the month is often a busy day for institutional buyers. Today was no exception and I noticed that they were heavy buyers of semis, most of which I had deleted from my watch list. So now I'm adding back LRCX and KLAC. I'm also looking at a few other semis such OVTI, and LLTC. They were also heavy buyers of biotechs so I'm adding back GILD. Expect some stock upgrades in these sectors soon as well.
The above story is the opinion of the author only and it does not reflect
iStockAnalyst opinion. Further, the author is not personally advising you
regarding the suitability of the story for your investment needs. In no event
iStockAnalyst will be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from or arising out of, or in connection with the use of this
information. Please consult your investment advisor before making any investment
decision.
