Father's day special Chart Attack, TraderAlamo welcomes big daddy "Tony Soprano look-alike" Papa Alamo. Despite last week being a down week, Alamo finds the best setups on the long side. Alamo brings out four long trades, a pass on oil, and no shorts unless Vornado Realty (VNO) breaks down.
Wells Fargo (WFC): LONG above $25.50, STOP below $23.22.
United States Oil Fund (USO): no trade- just watch
TransOcean (RIG): LONG if move higher (up day) with STOP on a close (ending a day) below 50 day moving average
Alcoa (AA): LONG with STOP on a close below 50 day moving average
Vornado Realty (VNO): 2-way trade
LONG over 50-day with STOP at $42.00
SHORT on move below $41.75 with STOP if move over 50 day moving average
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**Disclaimer: No positions in stocks mentioned as of this video (6.21.09)**
**Charts courtesy of ...
