Hi to you CC

looking forward to the info,

regards
dave U.K.

Picks for the day ending 6 June 12

1. C
2. FB
3. KO
4. JPM
5. XOM

C had performed as expected yesterday. Seem to have stalled the downward trend for the moment. This is a good window for a fast and clean trade. 26.00 is a very good and credible support level. I am very sure C will blast right through it within mins of the opening bell. And current assessment is C will be capped under the 27 mark until 2pm EST. I have no idea how the market would react after 2pm. It most likely not a game/pace changer per se but possibly a waning effect of the gains or stalling throughout till closing for the broader market.
My play: ride the surge immediately after the opening bell. When C is indecisive about breaking through 26 is the best time to enter a position just under that level. It is unlikely C will strive for the 27 level, so that could be a worthy point to note too. 27 is hard nut to crack.

FB hits another historical low yesterday. And judging by the market now, FB has some legs up north. It could be those automated program buying going on here. So it could be a good but I am sure short window of opportunity to leverage on.
My play: I’ll just wait patiently at 26.500 as resistance. However given the current market sentiment FB would bust right through but I am quite sure this would not happen immediately. FB would hover around this level first, bust through I am sure but just not immediately. Next I’ll wait at 27.000. this is the psychological level for FB. I will take time at this level.

KO sitting comfy at 73.000. But it will bust right through till it hit 73.5000 and 73.7500.
My play: This ticker as mentioned, has its own unique intraday movement. And given its current level, I will only trade it before 12pm EST and then again 3-4pm EST. If it hit 73.5000 before 10am EST, I’ll trade it upwards. And when it hits near 73.7500 near 12pm EST, I’ll be waiting as a resistant.

JPM like C had stalled the downward trend for the time being. It will be testing 32.5000. With all the strong market sentiment today, financials like JPM and C will likely to lead the market.
My play: will trade it upwards when near 32.5000. This is the only high probability play for JPM. And this has to be done before 1pm EST.

XOM is expected to be hovering along its strong support 78.000 it has slowed down its downward trend but without much conviction to break north. Regardless its direction, its current level promise a good and clean trade.
My play: I would trade this ticker the whole day if it is undecided where to go and hover around 78.000. I would use it as S/R concurrently. XOM is one of the few ticker that doesn’t has inherent wild intraday swings. But also because of this, it may somehow blur your entry timings due to its lethargic movement.

Given the market sentiment for today, i would not trade any EOD. And for all those setups as mentioned above, are before 1pm EST, no later than that except for XOM which is able to trade for the whole US session.
I do not see myself entering more than 1 position for all the tickers above.

I will be following this thread closely, good stuff.

Thanks Cherry for incredible picks and explanation.. How much time does it take to come up with this kind of picks?
Have u heard/try http://www.elliottwaveforecaster.com software? or what would u tell about those kind of softwares?

Thanks for all u are doing here, I`m beeing inspired by your incredible work and the way u look into things..

How it all pan out as at 7 June 12

1. C: It did not go to moon as i had anticipated and i got no one else to thanks but Ben for opening his mouth twice in a day! However C did play out 1 of a 2 scenarios which i was prepared for. It did pull back and dip below 27.000 where it was a very good position for a CALL. And indeed after the pull back it busted through 27.000 again and capped just below 27.500 for the rest of the day until Ben let it go and all banks went down south at the last hour of trading. Still a good plan for C and easy play too. I manage to get all the positions, level and timing window right and it all pan out as plan. Besides the injections from Ben, i think my C plan was well thought-out. One entry on C is all we need. And its now seated just below 27.000 again

2. AXP : My rules for this was clear, wait for pullback or ride it up north if all the criteria were met. And since it was not met, simply no trade for this window. My second window of opportunity for this was at the last hour of trading. As u can see from the charts, all criteria were met to the dot! Trend, volume, market sentiment, nearest support level was at 55.000 and the icing of the cake was Ben's gab. What more to ask then to ride this ticker down. One entry for this is more than enough.

3. XOM : Still one of my fave ticker this week. The retrace did come but not deep enough. So my first planned trading window was smashed. However the retrace had touched the former resistant level of 80.500 and turned it into a firm intraday support, no surprise. Because of the level it was in and the nearest tested level was 81.000, i would have sit the second trading window out too. As u can see from the charts, XOM was channeled along 80.500 and 80.750 for most of the day until 1pm EST when it started its first attempt to break out of it. Now this is a very good sign for me as i had planned for a position at 81.000 as resistant. And judging by its breakout, an additional trade is possible and feasible too. Take an entry just below 80.750 and ride it upwards to 81.000 then wait for it to break through and reassess its momentum. Now, given the fact that it only touches 81.000 at the last hour and plus the blabbering of Ben, this is another good position to ride it down til closing. For this play, it could have been 2 very solid trading window with a single position each.

Overall i am very happy with my analysis and the way the market had performed so far. Thanks for all the feedback. Looking forward to more inputs into this thread and lets make it a "thread-to-go-to" before the trading starts. Have a good trading day ahead and a great weekend too, no trading for me on fridays, my weekend has started.