Get Ready To Trade

Aug. 21, 2012 9:09 PM ETGMCR
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bullbear1's Blog
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Contributor Since 2010

Individual investor with a Top down approach. I don't believe in diversification. Spreading your chips across the table is senseless to me, when based on good old economic fundamentals only certain areas of the market are poised to benefit in certain stages of the economic cycle.

Today was the first day we've seen any kind of volatility in the markets for a couple weeks now. Most of the stocks on my watchlist are either at support or resistance levels. I believe these stocks will either break out or break down soon.

(GMCR) is hitting resistance at $25 per share. (If break out occurs gap to $41 needs to be filled.)

(ULTA) is hitting resistance at $92 with more resistance at $96.

(NFLX) is hitting resistance around $66 - $67 per share.(If break out occurs, gap to $77 needs to fill.)

(BWLD) is running into resistance at $75 per share.(Break out occurs, gap to $77 needs to fill)

(FIRE) is running into resistance at $51 per share.(If break down occurs, gap to $37 needs to fill.)

(SBUX) is running into resistance at $48 per share. (If break out occurs, gap to $49.60 needs to fill.)

(LVS) is running into resistance at $42ish.

I may initiate either long or short positions within any of the stocks mentioned within the next 72 hours. You can see all my trading ideas on my personal blog at www.stocktradingidea.com.

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