SPX Daily/Weekly

SPX Daily

SPX Weekly

Tuesday Afternoon

Daily Chart: PLT (11:15AM)

Here's a stock that's been making a nice move higher and broke above a long term trend line.  There is also significant short interest according to Finviz.  The short ratio is 13.76 with 5.57% of the float short.  The ttmP/E is 14.53 and forward P/E is 12.17.  Options are terribly illiquid so I won't be trading but if you like the common this one could be for you.

I used their products for many (25+) years and they were the market leader.  I believe they still are.

Tuesday Morning

Gator's Chart of the Day: DISCK

Discovery Communications Inc is one stock I've never owned.  I like much of their content and MythBusters is one of my favorites. 

The white resistance line is the all-time high (58.29) and it's within 10% of the 50 day sma so it's really not extended.  (The stock also has ticker DISCA and the chart is very similar.)  Volume has been very strong with Monday hitting 162% of the 50 day sma.

The Trade
I see a couple of ways to enter the trade.  Either buy the breakout if it clears the all-time high or buy on a pullback and bounce from closer to the 50 day sma.  I prefer the pullback but that may not happen anytime soon.