Trading plan for 4/25/2012

Today was a great trading day! I bought $SEFE for the gap as talked about and I did hold some of the shares in the AM for more gains as talked about in yesterdays blog. I got filled for a large portion of my shares right @ 2.40 after the gap for $SEFE. I then held 260 shares. I wanted this to be my swing trade except for the fact that I didn't like the action on the level two. It was neat to be able to get out of a trade do to indicators on my trading tools. Not only at a great price point but also the HOD for the next 20+ minutes. I was really happy with this trade and got out the remainder of my trades @ 2.44 for an extra percentage in gains.

The concept talked about above is something that I will be messing around with in the future for gap plays. If things look promising on the level two I will hold a portion of the gap to sell at a later time in the morning.

I didn't take $SEFE for a gap play today because of the EOD action. I ended up not taking anything since I didn't see any really good gappers in my opinion. No position is still a position right?

Here is my plan for tomorrow-

$SEFE:

I really want to try and play a bounce. It's a goal of mine, I see the buy and sell signals on the level two and now all I need to do is actually hit the buy button! Since I have free trades I will try with only 100$ in case it doesn't go well, I will be able to have very minimal loses if I need to get out.

If $SEFE closes nicely today I will be taking that for gap. Most people seem to think tomorrow it will drop a little so I am more likely planning to play some bounces.

$SEFE resistance is around 2.79-2.77.

Here are the support levels:

Around 2.68 should be a key support since it bounced off of that area multiple times.
2.65
2.58
2.53
2.45
2.40
2.30 - Anything lower and will be making lower lows which will make this stock only good for bounce plays till the chart corrects itself.

I will be looking around these areas tomorrow for a bounce play on $SEFE. It could go below these levels though which means you will need to chart out the previous days support levels.

$LUXR:

What do you know, this stock that was going to be my new $STVF is back to life! I didn't take it for gap but this will be my other choice for gap tomorrow if things do not look good for $SEFE around closing time.

If this gaps tomorrow and closes around HOD I will take this for gap if $SEFE doesn't look like a potential gapper.

$LUXR Support:
1.48
1.42 could act as heavy support
1.39
1.35
1.28
1.22

I will keep an eye on this stock tomorrow since it is back in play after what appears to be a shake out.

That's my plan for tomorrow! We may see some dips in $SEFE tomorrow so be careful! Like usual I will update tomorrow night on a new plan, along with any success or failures I have.