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Pro Traders Weekly Play Book - Get Ready!

The first stock that we shall examine is Deutsche Bank AG (NYSE:DB). This is one of the largest German financial institutions in the world. This stock made a fresh new two year low last week closing at $36.27 a share. The stock has now declined by $48.00 since making a peak in October 2009 at $84.93 a share. The European banking crisis is certainly taking its toll on the leading German Bank. Traders can watch for some short term daily chart support around the $30.00 level. Should the stock decline further the next important support level will be around the $27.25 area. This stock remains very weak on the charts by trading below all of the major moving averages. Traders should be very cautious when trying to pick the bottoms in down trending stocks. 

MF Global Holdings Ltd. (NYSE:MF) is a leading investment brokerage dealing in commodities and listed derivatives. The company provides access to approximately 70 exchanges around the world. Last week, MF stock made a new 52 week low, closing at $4.98 a share. Traders must always be cautious when stocks close below the $5.00 level. This is a point when many firms will no longer allow the stock to be bought on margin. The next short term support level for MF stock will be around the $4.60, $4.20, and $3.80 levels. Stocks that break down such as MF Global will usually bounce with the major stock indexes, therefore, if traders are looking to bottom fish this stock please make sure that the major indexes are at an important support area as well.  Trade these stocks, key levels and more live with the best traders in the world; when the opening bell rings tomorrow morning have the Pros on your side. 

Invesco Mortgage Capital Inc. (NYSE:IVR) is a real estate investment trust that acquires, finances and manages residential and commercial mortgage-backed securities and mortgage loans. This stock made a new all time low last week closing at $16.42 a share. Traders can watch for short term support around the $16.20, $14.60, and $12.25 levels. IVR is another stock that is trading below all of its major moving averages which puts the stock in a weak technical position. All traders and investors should understand that it is very difficult to pick bottoms in stocks that are making new all time lows.  Take careful note of these key levels, place them on your charts.