Sunday, December 5, 2010

Game plan for tomorrow...

I will still have no day trades tomorrow. Its likely that I would not trade again tomorrow because of this. However, I still like to prepare as usual.

My favorite set up and the one I will likely get long if my entry conditions are triggered is RVBD. Above $35.00, I will be looking to get long the Dec 18 $36.00 Call Options of this stock. I will hold this to the next day and if by then RVBD is trading below $34.00; I will close the position for a loss.

My second favorite idea is FTNT. Although I missed the opportunity I was looking for to get FTNT on Friday I still think that this stock can be bought. If FTNT successfully tests the break out level and bounces then I may look to get long the Dec 18 $35.00 Call Options.

Some other set ups that I will be monitoring but not looking to trade are SCOK (break out of $10.70), CRM (break out from bull flag), FOSL (inside day break out), MCP (break down from head and shoulders top) and EXAS (break down from bear flag).

So that is my plan. I am still reluctant to trade as I do not have day trades but will look to get long calls in RVBD or FTNT if they present me with an opportunity.

Good luck and good trading!

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