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End of Month Trade Ideas

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While we wait for the markets to show it’s hand, there are a few trade setups that I am monitoring to see if they unfold. While the best case scenario is to trade in the direction of the market, I think these trades will still offer good risk reward.

Trade Ideas:
GOOG (Public, NASDAQ:GOOG) as a good swing going through the end of the month if it breaks and hold above $420. The catalyst for this is their July earnings. Google seasonally run up at the end of June ahead of it’s July earnings release. I am using the daily chart as my time frame.

BAC (Public, NYSE:BAC) as a long through the end of the month if the XLF breaks above its 200 day MA or a short if the XLF breaks below the 50 day MA. The financials are the heart of the market and they have wedged themselves between their 50 and 200 MA. BAC has the most potential for a big move either way so I am looking to play this.

Trade Reviews:
RIMM (Public, NASDAQ:RIMM) dribbled through earnings so I did not play it. Today was options expiration and not a good day to put on any trades.

Posted on June 19, 2009
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