As the Market Roared back from the recent selloff essentially erasing the 2 day loss. This should give the bulls the upper hand over the bears coupled with a potential Santa Rally running up till the end of December. Lots of charts are setting up for potential breakouts. Below are a few I will be watching this week for potential Option plays.
YHOO – Looking for retest of 36 and potential break higher
BABA – A break of the highs should send this one higher as well as give YHOO an extra boost… I’ll watch in conjunction.
BAC – Financials have been gaining interest as of late… BAC could head back to test that 18 level and could break higher… notice increasing accumulation volume.
JPM – Another Financial that could continue to gain some momentum off the latest bounce.
SINA – nice and tight consolidation here with short term higher highs on the daily… could be setting up for a breakout of the recent highs around 52.50’s.
MA – 100 number is key here… I think we could definitely see a test of the hundo here this week… A break of the 100 mark might set this one off… Has remained strong and I like the vol here…
ABX – Lower priced stock but If it continues its move, this might break out higher above 8