Sunday my wife and I went to a Coach (COH) outlet store at the Allen outlet mall in Allen, Texas. She had received a 20% off coupon in the mail and wanted to get a couple of wallets. We thought we would just stroll in and grab what she wanted...boy were we in for a surprise! I'm sure part of the craziness was due to it being so close to Christmas, however, the Coach store was noticeably busier than any of the other stores at the outlet mall. First, we had to stand in a line outside the front door and wait to get in, like a high-end night club. Once the line got sufficiently long, it was at least 100 ft., and enough people cleared out of the store, presumably to avoid violating the fire code capacity limit, the door man let us and a lot of others in the store.
Bottom line, I like this stock. It looks very strong. However, take caution as it is over bought right now and is probably due for at least a small pullback. The stochastic is overbought on the daily chart and I will wait for the stochastic to pullback to neutral territory before buying in. One last thing, I put a potential profit target on the chart just above $40...where did it come from? It's the 50% fibonacci retracement level from the weekly chart...it also happens to be the nearest overhead resistance.
What's there to say about AAPL besides...it's one of the strongest and most innovative companies out there and the market loves it...thus, we need to watch it.
America's retailer...this is the new economy and Amazon is where it's at.
Google rules the world right now...period.
King of the club is "Goldman." As I heard on Bloomberg radio the other morning..."Where Goldman goes, so goes the market."
The bottom line is that both the weekly and daily charts are showing tightening price contractions which might lead to a tradeable breakout. I will probably start scaling in on the dips and I'll be looking for a breakout to new highs for a confirmation. 
I may have drawn the current price box a little too tight and I would not be that surprised to see the price fall back to the 145-150 level. The key is to let the market make the bottom. How will we know if the market makes a short term bottom? Watch the support levels and the BB Width. If AAPL bounces off a support level, lets say 155, and the BB Width hits a new low and levels off, then we know that a bottom is likely occuring. 
Ideally, I'd like to buy in the $138-140 zone and take my profit at $160. This is just a range trade, the sort of trade that Apple has been offering up lately between breakouts to new highs. A good hard stop will be essential for this trade because I'll be buying a pullback and the problem with pullbacks is that sometimes they turn into reversals...which could easily happen given the run that Apple has had lately. My stop will be at $133.
This allows me to stay in tune with what sectors are doing well and which ones are not just by "glancing" at the charts on the page. As you can see from the above picture, energy is looking pretty rough right now (just broke the neckline of a head and shoulders as prices are hitting new recent lows). I like to glance at the stochastics also to see which sectors are overbought, oversold, and neutral.
VMED
Have a great 4th of July weekend!
The gap up went right through my first profit target that was set at $18...my second target was $23 but I decided to bail out. Why? Well, I don't like holding onto a stock that just registered a massive one day gain like it did today. It might continue to go up, but, it might also sell off and close the gap...which I do not want to ride out. 
We'll see how this one turns out. I like buying the breakouts after a pullback into resistance and this one is a near perfect scenario for that setup.
As you can see from the above chart, the entry point would be the lower trend line...it would be nice to see the stoch fall down to oversold levels right when the price hits the lower line. Shippers have been strong recently and a nice healthy pullback in a stong stock like this one would potentially be a great trade.
These stocks may or may not offer up a trade, but I think they're worth watching. Just remember to wait for a good entry...good entry levels are indicated on the charts above. They may just continue to move up and I might be sitting on the sidelines because I missed the trade and that's okay because chasing stocks is not a good way to trade.
A little over a month has gone by now and the stock has shot up to $28-29, back down to the $22-23 neighborhood and now it's hovering around $25. I am going to hold onto this stock because the current chart pattern indicates that the uptrend is still intact and there is not a sell signal. Here's today's chart with some annotations:
Based on the above observations, I think this is still a great stock to be in and this might even be a good point to jump in or add to a position. I personally will not be adding to my position because I have a sufficient exposure to equities right now, but I might wish I had later. We'll see. 
I know which stock I'd put my money in.
On a different note, gold is continuing its rally and the dollar continues to gain on the Euro...it will be interesting to see how low the Eur/Usd pair will go.
