Tuesday, May 04, 2010

Charts: AMLN, BEAV, WYNN, BHP

I entered four positions today, 3 shorts and one long. My market bias has turned bearish with recent distribution (price down stong oh high volume) on SPY.

WYNN is showing signs of topping, though it is stronger than the market. Recent volatility and stronger volume to the down side make this an attractive "anticipatory short" with low risk if stopped out.






















BHP is an oversold bounce setup that is nearing support. Note that I am bearish on this stock and only playing a potential bounce. Stop is under the February low (close).

























AMLN
: Bear flag under the 50 day moving average.






















BEAV
: Break of 50 day moving average, which acts as uptrend line.

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