1:41pm
NFLX continues it’s strong downfall (just like any bubble that bursts), that’s why i’m glad Alerts & Analytics shorted it! Moreover, another player that could see trouble ahead is AMZN with an incredibly extended chart… I think we might be getting a reversal on this name.
8:43am
US economy adds just 39,000 Jobs, consensus was an addition of 168,000 with unemployment at 9.5-9.7. Turns out unemployment shoved higher to 9.8%. All this leads to the belief that we are not out of the woods yet. This should have been an incredible jobs number and now the bears can take the reigns back and shove us lower.
Again, i’m not playing the SPY directly (i’m neutral on SPY). But I suggest playing oversold and overbought stocks here.
6:10am
Alright, just got to Paris, France. But here are my thoughts, don’t buy the overbought buy the oversold. If we do rally to new highs with resistance at 1250 on the SPX, my guess is CSCO will be one of those winners. Even with a rough earnings call, last time it traded below my channel, it rallied 25%.
Here’s the daily:
I agree with Idan’s CSCO bullishness in the mid to high 18′s. In a down channel over last couple weeks. I think we need a good ‘flush’ out day with high volume next week and that will be a great entry for short or long term.
There ya go we are green and all financials except GS are taking us up!!
Woo
Do you see any meaningful pullback from this move up any time soon?
hard to say. we’ve seen crazier rises than this in the past without any major retraces.
I don’t think we’ll just break out of the 1229 highs that easily. I’ll grab calls when we break into new highs. At that point I’d be willing to possibly take some longer term positions. Until that happens I’ll only be scalp trading.
I’ll probably begin a position Monday.
Hmmmmm I mentioned yesterday TZA will fall to the 17.50-17.60 range and low an behold look where it is. So glad you got outta dat Morris wink wink.
Dsvill made HUGU HUGE HUGE accurate forecast this morning!
LOL yea dsavill got lucky again HUGE HUGE HUGE. I must say it does feel good to nail one once in awhile.
BTW, I’ve been afraid to reload, but FTK is still on a freakin tear. I am not adding to my small 1000 shares, but I would strongly consider buying a dip on this one. I bought the 1,000 shares on 11/23 and as of today it’s up 22.75%. This is my second trip up with this bugger. My first trip was much more profitable.
WTG Robert kick arse and take no prisoners!
http://www.thetechtrader.com/chartofday/12/2010/2/
I don’t remember which blog I saw it on, maybe it was Daneric’s blog, but I saw a chart indicating the SP500 started going down when oil got above 88 to $90 a barrel. I believe this was back in the 2008 time frame. I expect a consolidation pull back next week before the Christmas rally and hopefully Bush tax cut extensions agreement push the market up. I believe a Bush tax cut extensions agreement will coincide with a large push up in stock prices. Hopefully there will be agreement soon.
Did you guys see the deal here?
http://www.spoofee.com/
Is there an interday commentary board for today?
Not seeing it yet.
Dry ships has broket out. Is anyone playing?
On a day like this I did some buying to add to my portfolio. I have added two Stocks that should show strength soon> These two names are: LOCM and PWER. On side note Two of my picks that I gave this forum a couple of weeks ago are showing real strength these names are: URRE and WRES and they are still a buy in my mind. I am waiting for CROX to do something (largest holding in my portfolio).
Shares Name Buy Current %Up Profit
300 BRO 22.6 23.13 2.3% 159
500 AMLN 13.37 13.03 -2.5% -170
500 CENX 14.49 15.28 5.5% 395
2000 GMXR 5.08 5.18 2.0% 200
1400 MOT 8.02 8.21 2.4% 266
4000 URRE 2.92 3.7 26.7% 3120
1000 CROX 17.46 17.85 2.2% 390
5000 MJNA 0.1 0.07 -30.0% -150
2000 WRES 4.18 4.62 10.5% 880
2000 LOCM 5.35 5.35 0.0% 0
1000 PWER 10.4 10.4 0 0
Profit 4210
Waiting for the triangle breakout to materialize (SPX, 1min chart) … if ever
Broke out to the downside. Hmm, this was supposed to be a bullish biased triangle. But getting back in now. Maybe a fakeout?
But if it wasn’t then we should see (based on the projection of the triangle height down from the breakout point) at least 1217. There is also some horizontal support on this level. Me thinks.
Also staying long, but not too many positions at the moment, current holdings:
1,000 FTK up ~ 22% (bought 11/23, hoping to add to this)
200 KBH – up 8.5% since Dec 1st
300 BBRG – up 2% since Dec 2nd
800 EXK – up just under 6.5% since Fri buy
Still staying small so profits can’t get flushed out with one big (bad) trade. Enjoying kind returns on the long side.
Now if my NY Jets can do as well tonight, I will really be a happy camper
GLTA
the sites dead
I hate this time of year because there is no action since everybody is away. This is not a trader’s market. Just sitting in cash.
Playing around (still long but small). Just added some GMO
12/06/10 12:33:00 FT2116961-857 BOUGHT 500 GMO 6.05000 Day Executed @ 6.0499
moving a bit
What, me worry???
Robert…..you seem to be having an identity crisis!!!
playing with my new toy. Sam’s club is still my favorite
LOL!
Added 1,000 shares of TZA–RSI. This can not continue–stopped out at 18.5, 17.9. Also, added SCO, stops are in.
Tis the season! Would like all who have made monies this year to consider giving to the less fortunate–already gave to Salvation Army, church, etc. Great if Idan, other founders, would set fund up for this. Sam, Morris, etc., are you there????????