Weekly Watchlist

Here is this week's weekly watchlist. Please be advised that this week is likely to be very volatile as we have many important earnings reports coming, GOOG, MER, ISRG, SPWR, EBAY, WM, C, IBM, JPM, and several others. The watchlist is intended to provide some ideas for the coming week. If the trade goes the other way, or does not setup as I have outlined, please avoid the trade. The name of the game right now is risk management. I have provided a couple of shorts this week in case of a serious market downturn.

TRUMP ENTERTAINMENT (TRMP). Broke an important level of support Friday. Will likely see more selling Monday. Good opportunity for a short here.

EnerNOC, Inc. (ENOC). Here we have a symmetrical triangle pattern. These patterns are very predictable after the breakout, but very difficult to determine before the breakout. I am looking for a breakdown here and a possible short entry. If we breakdown I would look to cover around $10. If however, we get a breakout, look to get long. I know it sounds cliche, but this is the way you must play symmetrical triangles.

Firstenergy Corp. (FE). Broke important resistance Friday even with the markets down over 250 points. I am very bullish on this stock.

Ultra Petroleum Corp. (UPL). Ascending triangle breakout here. Look to get along after getting above Friday's high at $81.45.

Delta Petroleum Corp. (DPTR). Broke an important area of resistance here. I am very bullish here and will be looking for a good long opportunity this week.

Companhia Siderurgica Nacional (SID). This stock has been strong for quite some time, and after some consolidation, we are right back at all time highs. If we get a break of resistnace it represents a good opportunity to get long. Entry price at $40.85.

AsiaInfo Holdings Inc. (ASIA). Ascending triangle breakout. Could see $13.50 this week where we will be looking to take profits.