FEBRUARY TRADING GUIDE

Currently, our market is in a correction mode, however, it has touched the fibonacci retracement levels which may promote a rebound.

I am calling this a bottom now. It is time to load up.

HOT STOCKS:

AA
BAC

I will be concentrating on trading these 2 tickers.

This coming monday, I will be looking to buy AA at $12.75 and BAC at $15.05

ALCOA INC AA chart from stockta

Hope this chart is even clearer to show you the support lines of ALCOA.

AA will bounce next week. Good for day traders and swing traders.

Monday prediction: $12.80 to $13.25

Short term target: $14.80 to $15.40

Technorati Tags: ALCOA,trading,stock

OBAMA JOBS Budget may be increased to $100bln!

Obama will be unveiling a budget on monday regarding the boosting of jobs.

Weekly Stock Picks

This week should be a bullish week.

I will be watching these stocks and indicate their purchase price.

BULL STOCKS

AA   $12.7
AKS $20
BAC $14.9
MGM $11
LVS $15
WYNN $60

BEAR STOCKS

WFC $29.5

That’s it for this week. Concentrate on AA and BAC only!

Check back weekly for my BEST weekly trading ideas.

Check back daily for my review of the stocks that I have chosen.

ALCOA Inc AA chart review again

The previous chart was not clear.
ALCOA INC is trading at a strong support zone that is also the 38.2% Fibonacci retracement level.

It should bounce from the 200SMA and also the strong support line for an upward retracement to at least $14.8 using fibonacci retracment. Assuming that this is going to be a bear trend.

However, since there may be another rally, I think I will sell some shares at $14.8 and if it drops, I will buy at $13.7.

If it does not drop, then I will trade another stock like Bank Of America (BAC).

Bank of America corp at buying zone

Bank of America Corp BAC is trading around the accumulation zone.
Support is strong at $15 which was the offering price.

BUY at any dips below $15.

Short term target is $18.

BAC IS A SCREAMING BUY NOW!

AA chart

This seems to be the bottom of ALCOA (AA).

Expect a rebound from here.

TECHNICAL INDICATIONS:

FIBONACCI 38.2% retracement, Supported by previous resistance and support

Stochastics crossover and moving upwards.

Peak volume showing reversal possibility.

Trading Method

These are the useful technical indicators listed as follows:

1. Fibonacci Retracement
2. Support Resistance line
3. 20, 50, 200 SMA
4. Volume
5. MACD
6. Stochastics
7. Money Flow Index

They are listed in priority.

I will always follow the trend.