Thoughts for 12 April 2013

11 April 2013

AMZN (below) is making a W today. If it closes above the midpoint on higher volume, it could resume its previous up trend. IBD composite 33, industry group 75/197, so not bad for down plays.

CF (below) looks like it's continuing to bounce down off the 20-day. Might still be good for puts, or a bear call spread selling the $195. IBD composite 29, industry group 195/197, so great for down plays.

LNKD (below) looks like it's resume the roll from $172 to $182. May have bounced down today, so it may be good for quick puts tomorrow. IBD composite 97, industry group 94/197, so a strong company, but weak group. LNKD is #1 in the industry group.

V (below) is back in its old channel from almost a year ago. The 50-day is an incredibly strong support for V. Bull puts should be a good strategy, as long as you have the protection of the 50-day. Calls should also work well. IBD composite 91, industry group 137/197. V is #4 in the industry group.

I still think CAT (below) looks like AAPL did, starting back in September 2012. Just retraced to the 20-day and is bouncing down, so should be good for puts or bear calls. IBD composite 30, industry group 99/197, so good for down plays.

LVS (below) is in a good little rolling pattern, about $51 to $55.50. Just bounced down, so with negative market tone, should be good for puts (I'm in some). IBD composite 95, industry group 27/197, so a strong company and strong group. LVS is #4 in the group.

ANF (below) is doing a nice little $5 roll, from $45 to $50. Right at resistance now, so if it bounces down with negative market tone, should be good for puts (not in this, but watching it). IBD composite 63, industry group 164/197, so good for down plays.

FOSL (below) moved down into an old range of $92 to $100. If it bounces down off the 50-day (right at resistance), it should be good for puts (not in this, but watching it). IBD composite 71, industry group 143/197, so not a super strong company or industry group - makes sense that it's going sideways.

UHS (below) might be making a H&S pattern with a kiss goodbye (kiss today, goodbye tomorrow). IBD composite 96, industry group 10/197, so a very strong group and strong company. However, HMA had a negative preview, and it affected the whole industry group (http://news.investors.com/business/040913-651311-hma-earnings-admissions-warning-hospital-stocks-fall.htm).

LEN (below) looks like it could be in a slight up trend $6-$7 roll from $37 to $44. Currently making the down move, so not at a good buy point, but a pretty roll (I'm currently in LEN puts). IBD composite 72, industry group 107/197, so should be decent for down plays.