CAMARO’s Watchlist for 3/13/13
S - Sprint has been trading in a wedge pattern since Sept. of 2012 and its really starting to get tight today and some may argue we started to break above the upper resistance line. It really needs a daily close above 6.00 in my opinion before S can really get moving. If you look a more longer term chart we have a big cup and handle formation which if it does come through it should give us a measured move to 8.50s in the next few months. I bought april monthlies 6strike calls for a swing position today. Here are two charts . Wedgehttp://i.imgur.com/Nyoj86s.png and cup and handlehttp://i.imgur.com/1zCaao1.png
SPWR - Finally starting to show some signs of life again with some big volume today and a 3% move. The big key here is watch FSLR in addition to SPWR because FSLR argueably the bigger named solar stock is starting to bounce back after getting hit real hard last 2 weeks and if FSLR starts to fill in some gap then I think that will supply more power to SPWR’s move upwards.
SPY/DIA - Watching both of these for a break underneath their prior day low. They haven’t done that all of march so far and might not do so at this week. I wont short (or buy puts) until I see that trend crack. VIX did have a decent bounce today but not enough to really get fear into the markets. Just stalking the trade for now. Who knows, we might trade flat for a few days and consolidate before another leg higher. Be open minded.
Full Watchlist can be viewed here
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