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Thursday, June 3, 2010

Potential Trades - GS, AAPL, CHK

GS - If GS approaches its 14SMA (around 141) I will add to it. I am already in it, but the current activity around 145 has consolidated the name from its very-short-term overbought position.

AAPL - I would rather wait for it to fall between 250-255, but it is close to its 5 SMA (which acts as support when it is in a momentum move).

CHK - Based on the previous chart I highlighted the other day, the target of 18 may not be viable. President Obama's talk of Nat.Gas (along with Cramer's highlight of it) changed the trading dynamic of the stock. A more realistic target, based on its new trading dynamic, would be around 20.

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