Thursday evening - IBM

I've-Been-Moved daily

There's a nice clean pullback to the 50dma, with a bottoming tail today on increased volume which took out yesterday's low and reversed.  (tails are colored cyan or magenta if 50% or more of bar).  Buy over today's high, stop under the low.  Easy-peasy trade setup.  But no promises, of course ;-)

[edit: Yahoo says earnings Tue Jan22]

I have a profound personal dislike for the company, so I refuse to trade it long.  I never liked their services or their people.  But that shouldn't bother anybody else.

Look at Jojo's TDC too.  Nice bottoming pattern on that one.

Also rans : MUR, T, ROST

Thorsday Afternoon

The US markets looked strong before the open but buyers quickly shied away after the open and all of the gains in the SP-500 had disappeared by 11:15.  Perhaps the afternoon will be better with Europe closed.  It is possible that traders are concerned over some saber rattling in Asia.  Japan and China are spittin' at each other.

Thursday Morning - Citrix

Gator's Chart of the Day: CTXS

Citrix Systems is in its pre-earnings run.  They announce 1/21 so this will be a fairly short trade unless you want to break Fight Club rules.  Like most software/services companies CTXS has no debt and pays no dividend so this stock moves on cash flow, margins and revenue projections.  It's very liquid with average volume near 3.5 million shares.

The Trade 
I see a couple of possible entries.  A small starter (1/4 position) could be initiated on an up open and then grown quickly if the stock continues higher.  To be safe, place tight stops which are moved up as you fill the position.  Another approach would be to watch for a pullback to about 68.50 and buy (1/3 position) the bounce.  Again you would want to add quickly if the stock continues higher and your initial stop would be back in congestion around 67.25.

Edit: If this chart looks familiar it should.  sysin3 posted it Tuesday after market.