Watch list 10-22-12

SPY had the biggest big pullback in a while on friday closing near the lows.  after a move like this i believe we make a bounce on monday. the is the 2nd time we touched the 50sma this month. 143 support for now.

Lots of earnings this week and i will have posts on them and how im going to play.  my last post on CMG gave possible gains of over 500%

Major stocks on watch for bounce 

AAPL- had a 40 point drop in 3 days.  i expect a bounce to 620 tomorrow if market bounces too.  support 610.  if market red i think we test 600 and possibly break

GMCR - support 23.60-23.80 hold to continue the uptrend imo.  Target 27-29.  earnings a month away and shorts may want to cover before that.  has a history of making big moves.

VHC-  still in play has placed 9 days with higher lows. despite the major pullback in the market on friday VHC held up very well and put in a higher low.  this is still bouncing off my  hour trend-line as seen here. 

Support for tomorrow 27.40-27.60.  If market green i expect this to continue higher.  if not we may chop around for a couple days before the key 30 break happens. the starts this week so shorts may want to cover and push this higher. 

PCLN - support 555. we are at the gap down support  on watch for bounce play to 570.  If we dont hold 555 we could break 550 and head towards 540

CMG- Congrats all options made over 500% move . Resistance 245 and 248.  I expect more downside on CMG cause last earnings it sold off for a couple more days.  This weeks target 220.  If price action shows it wants higher im bullish with 250- 255 target. 

XIN -  3.10 major break out area.  support for tomorrow 2.90-3.  first target 3.20 , 3.50 , 4 .  chart history shows it can have mutli day runs.

GALE - Bounce watch-  key support 1.90  target 2 then 2.05-2.20.  

VRNG- Key support 3.75 . support for tomorrow 3.90.  I think we bounce tomorrow currently touching the uptrend line seen in chart below 

ANTS- Penny stock  made a sick move last month and held most of the move.  Key support .018-.02    with a break of .025 we could break .04.  this is a lower float penny stock.  Maybe we get a ATRN type of a move with this stock. 

Remember this is just a watchlist and do not guarantee to be profitable trades. Use your own judgment when making the trade.