Free stock pick for 09/15/2011
I didn’t find much on daily charts for Thursday. It is hard to have strong bias when indices are in the daily/weekly whippy consolidation pattern with obviously divergence between strong QQQ and weaker DIA. I have some ideas on my list like : SANM, ULTA, WOR, VRA, WYNNTQNT for long setup and : GLW, WPI, ARE for short setup but I won’t give my hand in fire for them before I will see market open. Because of that if will be any interest there and if risk will be acceptable I will post setups on usual way. Only chart with trading plan is ILMN. It is same daily idea as yesterday and this time I post 60 min time frame. For interest ITMN must pull back from 20sma and if that will be case we want see good selling pace and volume what will confirm our expectations.
At this moment market is in high risk area for new setups, especially for swing setups and because of that I like to note that PATIENCE will be our good friend today and very possible tomorrow.
Wish you all good trading day
PLEASE NOTE: The primary focus of my service is to find Swing Trades. I look for intraday setups that have a potential to become swing trades. Since my membership is diverse I do post additional ideas (day trades, position trades and scalp trades). It is up to you to decide which trades are appropriate for your trading style. I do NOT personally take every trade. Your success depends on YOU taking trades you understand and like. I am always available to contact for additional trade explanation.
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