CAMARO’s Watchlist for 10/31/13
IWM - Overall weak today and ended up closing on the lows of the day engulfing the last 8 days of price action giving it a big bearish engulfing candle. That in combination with high volume isn’t something good to see. I’m looking to short IWM tomorrow with puts and looking for a move to 108.50 tomorrow. The option pricing here really isn’t that bad. The 110 puts are going for .50c so a move down to 108.50 would be great for those puts.
PCLN - Tomorrow thinking PCLN breaks out of this upper level wedge type formation. I dont care which way it goes, my gut says down because the market I think is going down tomorrow but Ill just stick to levels. PCLN above todays high at 1078 and ill go long with 1100+ tgt or PCLN under todays low at 1055 and I think that opens the door for some selling with 1020-1030 being a big area of support.
LNKD - Huge down day today and looks like tomorrow its it going to go under its 100day ma for the first time since the end of June. Im looking to short it under todays low with a 213-215 target. If we get down to the level I will look to flip back long to try to catch a bounce. Should be a great two way trader tomorrow.
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