Home > Chart Talk, Market Set Up > Game Plan 9/8/2010

Game Plan 9/8/2010

Just a quick post before the open today.  Commodity stocks were in play yesterday and look to be continuing with their strength on the open today.  I am specifically looking at US Steel (X), Freeport-McMoran (FCX) and Mosaic(MOS) today on the open.  All three are up in the pre-market and approaching important intraday breakout levels. 

X was very strong all day yesterday and is up about .50 in the pre-market and currently trading around 48.70 which happens to be yesterdays high.  If we clear that level the next resistance I see is the 200ma on the daily at 50.85 and then 51.40.  If we clear those levels 58 is the next reistance I see. 

FCX is currently trading around yesterdays high of 78.80 in the pre-market.  The level to watch is 79 which is basically the 2-day highs.  The next level to watch for resistance after that is 81.66 and then 82.20.  Longer term profit target above these levels is 88.30. 

MOS has basically been in a consolidation box for the past 15-days.  The levels to watch are 60 and 55.  Currently we are trading around 59 so I don’t think we are going to get to 60 today but I may put a piece on if I see some strength on the open with the intension of adding on above 60 for a profit target of 65.00. 

Best of luck today. 


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