Charts Of Interest – 18 November 2014

Amazon.com ($AMZN)

This is an interesting one. It go whacked after earnings and has rallied ever since. Last Friday it had very strong move from the 314-316 level, and I am looking to buy should we get there again. I think there will be weak longs with stops below 318.03, which makes it an interesting trap trade too.

AMZN - 60 Minute - 18 November 2014
AMZN – 60 Minute – 18 November 2014

 

Alibaba Group ($BABA)

BABA has been on a tear lately and is pulling back. There are three zones where I am looking to trade – in the 108, 104 & 98 areas.

BABA - 60 Minute - 18 November 2014
BABA – 60 Minute – 18 November 2014

 

Salesforce.com ($CRM)

Another strong tech stock that looks good on the higher timeframes. I like the look of the gap fill area at 59.13.

CRM - 60 Minute - 18 November 2014
CRM – 60 Minute – 18 November 2014

 

Google ($GOOGL)

I love Google as a company and I use many of their products, but the stock has lost it’s mojo of late. Having said that, I am looking at a sneaky little area at 533 for a swing long. I believe $GOOGL under 600 is a bargain, so I’ll be swinging and adding to a long term position trade there.

GOOGL - 60 Minute - 18 November 2014
GOOGL – 60 Minute – 18 November 2014

Lululemon Athletica ($LULU)

The LULU weekly looks like it has put in a bottom so I am looking to get long on a pullback. I like the look of the 41.50 area as a nice clean entry point.

LULU - 240 Minute - 18 November 2014
LULU – 240 Minute – 18 November 2014

GS – Short Trade

I have been very bullish on the financials ($XLF) but the market is starting to look a little tired, and I think the financials will be dragged down too. I got short Goldman Sachs ($GS) today, and am looking for a selloff into next month. The next good looking daily demand is 173.27.

GS - Daily - 26 September 2014
GS – Daily – 26 September 2014

My entry is a somewhat tiny 15 minute zone, but to me this short term price action is telling. $GS failed at the highs earlier this weak, and is now starting to break down in my opinion.

GS - 15 Minute - 26 September 2014
GS – 15 Minute – 26 September 2014

I closed a bunch of trades today, and sit largely in cash, looking for tactical opportunities every day. Now is not a time to be loading up for the long term.

 

There are also a number of opportunities to get short in some other names, and I have resting orders to sell. These names include

  • AAPL
  • CRM
  • CSCO
AAPL - 60 Minute - 26 September 2014
AAPL – 60 Minute – 26 September 2014
CRM - 60 Minute - 26 September 2014
CRM – 60 Minute – 26 September 2014
CSCO - 60 Minute - 26 September 2014
CSCO – 60 Minute – 26 September 2014