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Dream’s Trade Ideas by Dreamytrader 04-18-2013

Stock Name last Close Price

Status Key Levels Desired Set-up Entry &Stop Trade Ideas Note

Current Watch-list

S&P500 Index ETF (SPY)

$154.14 Defending lower support

Near-term resistance is $160 $153.50-$154 lower support.

A breach of $154-$153.50 with volume, would trigger a short entry for the market, when people freak out and panic to sell. VIX the fear index could spike higher.

SPY is setting up a Bearish pattern, which spotted by many seasoned people in the market, when pattern is clear, the more danger it becomes. Be careful of this downside break.

Facebook (FB) $26.52 Giving up upside power

$25-$25.50 lower support. $29 resistance area.

FB is still capped within range of $25-$32. $29 area is near term resistance and FB again shown weakness price action. Out of play now until next set-up come up.

Facebook rolled out another Ad service that helps business to get more precise targeting ability, this plan welcomed by the market as another positive catalyst after Facebook Home. FB’s price action very choppy.

Apple(AAPL) $392.05 Bloody Breakdown

$420 area upper resistance. $362 area next support.

Apple had a downside follow-through day, yesterday’s selling carried over, $398 was entry to short.

Lack of new profitable products resulted in never-ending sell off to its stock price. Investors got a preview about Apple’s earning, CRUS the supplier has high inventories. Apple’s upcoming earning not looking well.

Nike (NKE) $60.18 Holding support

$58 lower level support. $61.50 small resistance.

Stated “NKE is now out of short-term play for upside as Market under pressure” on yesterday’s note. Long-term still in Bullish mode.

Strong last earning numbers spiked NKE into all-time high and it has been a very strong retail stock among the sector. The up-trend is intact for NKE despite recent market chills.

UPS (UPS) $82.38 Looking to go lower

$82-$82.50 lower support

UPS is setting up chart pattern for lower price level, strong downside close with volume. Likely to see lower price with entry at breach of $82 with volume.

FedEx’s last disappointing earning affected its friend UPS, in terms of selling pressure. UPS needs to deliver a good earning package to its investors. IYT ‘s chart is setting up for lower price as Bearish price action start to mount.

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McDonalds (MCD) $101.91 Downward pressure

$100 level, key mental support area.

Short-term play for MCD should be avoided, earning due tomorrow. Today it had flash selling and reversed. Tough to trade.

MCD reports tomorrow’s open, and result would be used to guide the next trading set-up.

LinkedIn (LNKD) $173.81 Failed to go higher, and pulled back

$170 level area now next support.

LNKD pulling back deeper as market sentiment is getting Bearish. Recent price action was warning traders on the long-side.

LNKD’s earning is till two weeks away and price action would be more choppy as its earning days come up. Not going to be easy when market is under pressure.

Boeing (BA) $86.12 Pulling back to test support

$86 lower support. $90 would be mental resistance.

BA pulled back with the market, still holding at higher end. Now BA is out of play for the short-term as upside facing headwinds.

Boeing’s business stabilized when Dreamliner’s incident resolved. That was good news that people discovered this early. Other division of Boeing’s business remains steady.

Home Depot (HD) $72.48 Trying to hold high

$71.40 lower support.

HD shown strength as market is losing balance. But with current bearish mood in control, HD would slow down in upside move.

With more and more news about how housing market is recovering, HD certainly found reasons to go higher in this not so decisive market sentiment. Or, another housing bubble inflated by QE….

Ebay (EBAY) $52.82 Falling $51ish is now lower support.

EBAY fell after bad earning. Very hard to define the Ebay trade for now, avoid for now and shorting on fresh weakness might be useful. Bigger picture still ok for long.

EBAY beat on earning and missed on Rev, reported yester. Outlook fell short of expectation. Investors rebalancing their positions from now on.

Cummins (CMI) $106.02 Breaking down follow-through

$110 area upper resistance.

CMI fell sharply with volume. Chart Pattern is suggesting lower price to come. Short entry was $109 as noted on earlier.

The making-goods sector is not something very stable and not a defensive sector when economic shows mixed signals. When market begin to topping out, these type of lagging stock fall first.

Schlumberger (SLB) $71.00 Breach of support

$70 near-term support.

SLB is a short trade but entry was mixed. Not easy one unless give a large room for stop.

OIH Oil service under pressure lately, SLB’s business was ok. Energy sector under pressure. Earning tomorrow open.

Current Watch-List Featured Chart: Apple Inc. (AAPL)

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