The Meeting

Here are the notes from the meeting tonight:

XME: Hammer candle formed today and could be poised to make a possible pop from here

CAT: Has been chopping around support of 81.20 - 81.50'ish and you might be able to call it a bull flag pattern that's forming(ed). Good longer term play too.

DE: Almost a hammer but more of a Dragonfly Doji: "A Doji where the open and close price are at the high of the day. Like other Doji days, this one normally appears at market turning points"

CF: This is an Agricultural play that has formed a doji and is resting on broken resistence which is acting like support. But no one seems to know what's going on with the Ag's so be careful...

POT: is on crack

BA: Could be rolling over here; right up against resistence so if you played it to the down side and we're wrong, your risk is very small. MACD rolling over as well...

ETN: Thinking about doing a 95/100 bear call spread as a hedge for the 2nd offering of stock that they're coming out with (which is priced at 84.00 (I THINK! CAN'T REMEMBER SO MAKE SURE YOU FIND OUT)).

GLW: This is a longer term play from the basis of this...and bare with me...With TV's having to go from analog to digital, fiber has to be supplied to handle the bandwith. So from a supply side, Corning appears to be the one grabbing all of these contracts. $27.04 is it's 52-week closing price high...today it closed at $27.03.

That's about all.....OH! There's some economic data being released tomorrow morning so keep an eye for that. It could swing us the other way but at this point who knows.

Happy Trading!!!

-Matt J