Thoughts for the week of 03/17/14

YELP - Called this one on Thursday of last week. Said this would bounce above 86 and it closed that day at 87.70. This printed a nice doji on Friday and help 50dma support. If market isn't completely terrible, I think this may bounce here. Might dip slightly under 85 but test 90 and even the 20day.

KR - in this market I am not certain breakouts will have much steam. I think traders are cautious. Also there has been little accumulation these past few trading sessions in KR. This might dip here, but the breakout could be taken advantage of above 44.40. Short it under 43.35 and volume. Volume is key here.

CIT - still think this is a good short here. Neared the 50day deathcross and lost steam. Also not quite a piecing pattern which is a bearish sign. Could short on pop with a stop above 49.10.

LPI - still bear flaggin so let's see what happens.

REN - Could still buy here with a stop under 7.61. A tight stop. Or stop under 7.35. It may go sideways so keep alerts ready cause you may not want to watch this one. Lol

PQ - watch for the fakeout. Posted a bearish engulfing and is overbought. Could see a short term pullback. Short on pops for a quick trade.

SO - nice three day run. Could look for a long on a dip to 43. If this clears 44...May flag though and be nice swing here.

CMRX - off of FDA drug approval. Setting new high. Watch this. RSI is overbought, but it may not matter. Volume has been pretty large on this. Where were we the last few days on this? Lol



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