Market Chasers

Watchlist for Tomorrow: September 17th, 2008

Here are a few plays to watch tomorrow:

Skywest Airlines (SKYW)

I like this chart. Stochastics are in overbought territory and they are rolling over. We are observing a resistance line at 20 dollars and the price sliced right back through the resistance line and closed below it. Lets stick to something close to the money. I would purchase October $17.50 puts or October 20 puts if you want to avoid theta decay. We have a clean stop at 20 dollars.

Whirlpool (WHR)

I love this chart. There is a big time resistance at 90 dollars being seen all the way back on their 3 year chart. Stochastics are falling and macd looks to be rolling over. I would stick to either October or December 70’s to fill the gap up we observed on July 23rd. Set a stop at $90.

Thanks for reading.

-Justin Moon, Senior writer for Marketchasers.com