Strangling VVUS

Vivus Inc (Ticker: VVUS)

The bias on the daily chart is obviously to the downside. However, VVUS is due to report its earning on Monday, giving the possibility of an upside surprise. Thus, this is the right time to apply a 22/23 near month strangle here. Volatility and volume have since dropped from the past few days forming a symmetrical triangle.We hope to see a strong break to either side.


Watchlist July 20th 2012

Consol Energy Inc (Ticker: CNX)

This has been trading between the 29.50-31.60 since early July. Looking for a break from this range to the upside. The 200SMA, previous range resistance which coincides with the equal move resistance lying at around the 34.50 area should be the next strong resistance ahead.






Bed Bath & Beyond Inc (Ticker: BBBY)

A symmetrical triangle in play here. The last move to the upside within the triangle is hugging the lower range of the triangle is a good signal for a second leg to downside.


Akamai Technologies Inc (Ticker: AKAM)

A bear flag pattern here started its formation since the end of May. The pace of the recent move to the upside is slower than average and is also hugging the lower range of the flag. Nice!


PNC Financial Services Group Inc (Ticker: PNC)

A short signal has actually triggered on Friday. A missed trade here. Looking for a weak bounce here, i.e. a second chance.




FSLR Bullish Reversal

For more than a year since early 2011, First Solar Inc (Ticker: FSLR) has been declining steadily with a 3 wave pattern. Until recently, signs of reversal appears. The bounce from 11.50 in early June has led a to more gradual pullback hugging the 40EMA. Volume has been declining throughout the pullback. A close above the 40EMA, we shall see further upside ahead. Equal move target lies around 18.80 area.


Watchlist May 20th 2012

Procter & Gamble Co (Ticker: PG)

Since the high volume gap down on April 27th, it has been trading within the range of 63.30 and 64.70. This thing has a high potential to break down from this trading range for another leg to the downside.


SunPower Corp (Ticker: SPWR)

The chart tells it all, a potential double bottom. We shall stalk for a strong up day with high volume on this one.


V and CSX Triggered

Visa Inc (Ticker: V)

A short entry triggered on May 17th at around $116. A close of $112.64 on Friday giving us a paper gain of $3ish. First target at $110 with stop at breakeven.


CSX Corp. (Ticker: CSX)

Triggered on the same day was CSX at around $21. Last done was $20.78. Still have the potential to reach the first target of $20 with the next target of $18. Any spike above $21.50 will trigger a stop.






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