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Stock Market Daily Recap Nov 6, 2012

December 6th, 2012

The stock market was traded on average volume, however popped heavily ahead of the election. Dow Jones was up +130.14 to hit 13,242.99 and the SPX up +10.80 to hit 1428.02. There were definitely some great buys out there that popped out.

Here are some charts and things I was watching:

GOLD (GLD): had a nice pop... nearly twice the daily average volume.

Lockheed Martin (LMT): Broke this resistance level at 95.00

Oil and Petroleum stocks like MPC, HES, and APC have been rocking it the last few days!

Precision Castparts (PCP): Mentioned this one last week. Looking healthy with very nice volume.

Phillips (PSX): Broke on heavy heavy volume today past the 48.00 level. Looks strong.

Flowserve Corp (FLS): talked about this one for a few days. Looks healthy for the move up with a nice break of resistance level at 135.00 and created a flag pattern. It moved nicely the last few days.

Rockwell Automatic (ROK): Metioned this the other day in the daily recap. Still its moving forward. Don't forget to take some profits into strength. But looking healthy if you were able to enter it early on Nov 1, 2012

Vmware (VMW): had a nice volume spike. Looking decent at this point, could see a slight pull back as support level does not look extremely strong so be patient or have tight stops.

Autozone (AZO): staying above this descending trend line pattern. Looking healthy on the daily and very nice on the weekly chart pattern.

Baxter International (BAX): After breaking the 62.00 level, this stock has just taken off with massive volume. Looking strong.

Cummins (CMI): Broke the 94.00 resistance level a few days ago, looks like its heading for the 200 Day moving average. Volume was weak the last 2 days though, so it may dip back down to test support around 95 level. Time will tell.

DaVita HealthCare Partners (DVA) Broke the 114.00 level at decent volume, but nothing to rave about. Just something to keep an eye on.

Express Scripts (ESRX): this stock is toast. Extremely huge volume nearly 10x to the down-side. Trend and chart is broken. Next!

Entergy Corp (ETR): 2nd day of heavy down volume. Chart is dead. This one is toast as well.

Fossil (FOSL): It may be loking to fill this gap below. Volume is to the down-side. Time will tell.

Aetna (AET): Watching this horizontal channel. Wait for the volume to spike and break out before entering.

M&T Bank - (MTB) I am watching this flag pattern to see where it will break.

Author: Sasha Evdakov

Sasha is the creator of the Tradersfly and Rise2Learn. He focuses on high-level education speaking at events, writing books, and publishing video courses on business development, internet marketing, finance, and personal growth.

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