Monday, September 21, 2009
September 21th, 2009
Good morning all. I will have an early meeting first thing on my job. So I will make the first post for today. As I write this the premarket action is pointing down. There will be a gap down in the morning. Last week I stated that if the market opens 30 to 80 range down or up, it will try to close the morning gap. Unless the action for the first 30 minutes if the market quickly fall over 100 points, then it will close over 100 points. If it ever close the morning gap and reverses back down, good sign for the bears. But if it goes higher after the gap is closed and close positively, the market is still have legs to go higher. This will be very bullish.
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I am long SDS and QID. Let's get this baby (DOW) down 100 plus and close SnP below 1061 today!!
ReplyDeleteNot and easy short today (yet). This thing could go either way. Looking for new lows for confirmation, but still holding SDS and QID
ReplyDeleteSomeone had asked me to list some of my selective individual picks two weeks ago. So this morning I have opened the 3 positions on NOC, ENER and TSL.
ReplyDeleteSee Portfolio section at the price that I bought.
Defensive stocks are on the move. Most of the them are breakout out. So I bought NOC.
Solar energy stocks are on the move too. I bought 2 stocks, ENER and TSL.
Since this morning the market failed to go down more than 100 points at 10:00 AM, it will try to close the morning gap during the day.
ReplyDeleteYep. Almost there on the gap. Gold stcks strong too. I am going to wait until after gap is closed to determine if i exit my short position.
ReplyDeletei think we will have more upside tomorrow and wednesday...
ReplyDeleteIf oil keeps selling off, the oil related stocks will take the market lower. XOM and CVX are a large part of DJI 30.
ReplyDeleteThe USO is trading in a range of 35 to 38. If it breaks 35, you might see a selloff. But I am expecting to trade in that range. OIH is breaking out. Gold stocks took a breathing last 3 trading days. It seems like it is about to run higher now.
ReplyDeleteLast week I stated the SPY needs some days trading in the 106 area before it resumes upward.
ReplyDeleteQQQQ had closed the morning gap, not SPY yet.
The individual stocks that I selected this morning are for short to intermediate term. They are not for daytrading or swing trading.
ReplyDeleteI have listed the date bought, at what price and projected target. If you have any questions about my picks, you can post it here.
Look like we have a bull/bear battle going on with SnP right now. I have not exited my short position yet, but keeping a close eye on it. Close should be interesting.
ReplyDeleteMy TSL pick is looking good right now. Almost $2 up. It seems like it wants to break out.
ReplyDeleteThe SPY had closed the gap at 106.72. The question is whether it closes higher or reverse back down. 30 more minutes till closing time.
ReplyDeletelooks like SPY closed her gap.
ReplyDeleteNot an easy trade today. I have closed half of my short and will exit the rest at market close. gcl, nice pick on TSL
ReplyDeleteTSL is on the breakout mode. Expect similar action on the sector. TSL and ENER took a drop first thing in the morning to shakeout the weak longs. TSL skyrocketed at the end of the day. ENER recovered from the big morning drop. Expect ENER to close the morning gap tomorrow. For NOC, the breakout point was at 50. It had crossed the breakout point 2 days in a row. It might trade in a range between 50 to 53 for couple days and it will resume upward.
ReplyDelete