Thursday, August 15, 2013


Pretty nasty day out there today. Indexes taking a big hit and not a lot of names holding on.

I want to continue to talk about $GOOG and it's continuing movement in our plan. As my previous post on Monday, Is More Correction In Store?, we have hit the first target of $861. Actually, it has been holding there all day so far. The $861 target support is pretty strong. But I am holding steady on this plan.  If it breaks this support, I am looking for $844 - $845 as the next target.


If this sell off today is the start of a greater correction, I am looking at some names that might be good shorts or Put opportunities.  One that jumped out is $LNKD

After a great earnings pop, the name has consolidated in the $230 - $240 area. This would be something I would be looking at for a break out higher normally. But given today's action and the weakness we have seen overall in the last few days, a break below this box could lead to a gap fill. Today is averaging higher than average volume and if another day follows through to the down side, it could get ugly here.  Looking for a break and close below $228

Happy Trading!

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