I'm looking to buy some call options into the close today. The S&P 500 has rallied off its lows (which happens to be at the 1130 area on the chart...the support area I mentioned last night). This is a nice reward to risk area for some bullish trades. I still like the patterns on BAC, ESRX, and AET. You could look for more confirmation if you like, but I think a stop below the recent lows would provide a great reward to risk for these patterns. I also like call options on the SPY or DIA. There's no guarantee these stocks will go up. I just like the position they are in and the reward to risk for the trades.
Hold off on BJ. It blew through that strong resistance today. A good example of the wisdom in using confirmation. A 10 day MA works well for a simple confirmation tool.
STX had a nice earnings report and I love the bullish pattern. WDC reports tomorrow and the pattern is also pretty good. Both of these could possibly pull back a little bit more before going up, but the reward to risk is pretty good right here.
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