Friday, July 31, 2009

Trading List Final Result for Week of 7/27/09

Signs of a crack or just Friday jitters. Strong support and resistance showed in this tight range of a trading day. Only time can be the judge and announce the winner: will it be a breakout to new high or retest of 9000. Having no crystal ball, I prefer watching and playing it as it comes.

Friday Trading Results: It's been a tough but rewarding week.,

GDX In a super tight range Short below 38 to about 37 . Long above 38.60 to about 40 if it's going to fill the gap. Friday Triggered today for long and made the gain to target.

APA Opened triggering long and hit target and has held near the high all day. Long again above 81 to target 85, Short below 80 to about 79 breaking below, to 78 . Friday Nice entry above the 81 with 85 target hit . Very nice trade.

BIDU nice out of the shoot hitting target. Short below 350 as it looks like it's going to retest 344 and maybe back down to 340. Long above 353 to 355-357, breaking above to 358-9 areas. Friday 353-355 long and 350 to near 346 short.. nice trading

CSIQ Long above 16 to about 18 then 22 area targets. Short below 14.50 to about 12. Friday, no positions

DTO very nice yield today on the short, exceeding the 2 targets. Short below 87 and below 83.50 to about 80. Long above 88 to 89 and 90 areas. Friday: Short was the call below 87 that made this day very nice for those who rode it down to 78

GNK About even on a small loss/gain for the day. It is also in a tight range. Long above 25. to 25.70 breaking above to 26.30-70 area + . Short below 24.30 to about 22.80. Friday: triggered a short for a small gain .

ICE Very nice today triggered long at open and exceeded the long target filling the gap. Long above 95.30 to about 96, 97.50 then 100., Short below 92.80 to about 91.50 then to 90 area again. Friday: opened Hi so no long position or short position triggered.

IPI Is very tight so I will kee it the same. Long above 27 to about 28.20 breaking above 28.30, 29 is possible. Short below 26 to about 24. Friday, triggered below the 26 for a point short. No long position entered

MICC is very tight range today. It's still above 74 so we'll see if it can punch through the 75. We'll keep short below 73. Friday, Hit 75 shortly after open , then reversed still holding a tight range. Short not triggered.

PBR Long above 42.70 to near 44. Short below 41 to near 40. Friday, Has not come through as a great trader again.

POT We got 2 waves on this long and a small scalp short. Still in that same channel. 87-97. getting tight near the top and looking for a possible break. Keep long above 95 watch the 96 area for a signal of exhaustion, if breaks out above 97 we have a rally. Short below 94.80 to 94, 93.60 needs to break down for lower. Friday, A small gain for the long ; the short worked quite well below 94.80 for the rest of the day with a 2+ point gain.

PTR This call has been working all week. Don'tlet that 115 fool you it's strong for now. Long above 120 to 122 area, Short below 119 to about 117 then 115 areas with possibility of revisiting 113. Friday: Opening at just below the short call it quickly made it to first target of 117. Repeating the short opportunity again the last hour.

SCHN Channl play sideways difficult. This one is between 50-52. Needs to break below 50 for short looking for 48 then 45. Above 52.30 for long with higher volume. Friday, Broke out almost immediately at open giving a point gain then repeated after the pullback holding near its high rest of the day.

SOHU yielded nearly a point on long side. Needs to break above the 64 foar near 66. Short below the 62 to 60 breaking below to near 58. Friday: Gave us a short and nearly a point never breaking down the 61.

VNO Strong breakout with 1st target hit by midday. Continue long call if breakout above 51.50. Short below 50 to about 48.80 breaking lower to about 45. Friday: Short triggered below the 50 and gave a 1/2 point before reversing; it did not break through for a long position.

Happy Weekend, Living and Dancing

Now playing: Luis Villegas - S.O.B. - South O' the Border
via FoxyTunes

Thursday, July 30, 2009

The Dow Jones Swing

Pre-Market 7/30/09

Post-Market 7/30/09

I asked the question on this morning's chart and the verdict is in: It was a breakout and nearly hit the 9260 top mark. Can't complain about that one. The pullback to 9160 was predictable as the long bar's midpoint, and may prove to be a consolidation area for further upside. Break above 9260 could yield to 9400.

But we are also rather wobbly here and traders are getting nervous so we can still retest the 9000 and below as August begins. Remember it's the final couple of weeks before school begins so people are focusing on post vacation homecoming and resettling for work. Also looking toward Labor Day as the signal of the end of summer. Early September has some other issues as well, but we cannot go too far out as we still have tomorrow to finish.

Friday 7/31/09 Only time will tell, but it is a Friday and as I mentioned people are getting skittish, so, I'd be surprised at another breakout. Sideways an absolute possibility as well as a downside. But I won't expect, I'll just trade what comes.

Happy Dancing, Living and Trading.

Wednesday, July 29, 2009

I'm Tired of Palin Bashing

I'm tired of Palin bashing. What is the purpose behind it? Is it that she doesn't meet the image of an entertainment star with scripted self-promotion? No, then what? Sorry but, in my opinion, she has more wit, brains and talent than most entertainers who many think deserve eternal admiration, which includes her doppelganger. (Look it up)

I'm tired of Palin bashing especially from women. Rather than see her as competition, women can learn from her. Just like in other fields where women have paved the way. Were she dominant in one of those, book offers would come galore; so rather than bashing, perhaps it’s time for emulating.

“Why” you ask? First, it is because she has the courage of her conviction, something that all traders need to have in order to succeed in this business. Second, is because she sticks to her plan, which is another admirable quality for all traders. Thirdly, because like most women, she multi-tasks, and those qualities make for a great trader and fourthly perhaps despite of it all, she speaks her mind, she talks about what she knows she publishes her thoughts and reasons, and she won’t cower, but rather takes the chance to succeed. All of which are requirements of a leader and a trader. I am sure that, like many who have succeeded, she has failed often enough to discourage her, from which she had to recover in order achieve her goals. That is enough to deserve admiration from everyone; especially those who have done the same. Yet many say she’s not qualified.

Perseverance is another needed quality for succeeding in the field of trading. Most traders could not stand the scrutiny, relentless smears, jeers, criticisms, attacks and condemnations on their looks, lifestyle and intelligence, like Palin has endured. Men and women both tend to point out every flaw on her being and when they run out of those, they include her family, friends and even her pets. Yet, she continues with her conviction that she has something to contribute and that’s exactly what it takes to succeed in this business.

Each person who ever posted a comment on Twitter or Stocktwits did it for the contribution they felt they could make. Imagine if everyone got bashed for it; social media would dry up as contributors would be reduced to a very few who could stand the onslaught. Palin has survived the onslaught so I say she’s immensely qualified to do whatever she wants and I for one will be cheering her on because I have a lot more to learn from her success than her possible destruction.

Happy trading, living and dancing!

Monday, July 27, 2009

Summer of 2007 vs 2009

I mentioned on Twitter that the action of the markets feels very much like the Summer of 2007 to me. So finally I decided to take a serious look and see if the feeling was true. Charts being the only possible proof of the matter, let's examine the facts on the DJIA

This is 2007:

This is 2009:

I'd say there are striking similarities. Will it continue the same way?

We've come long way and the Dow just keeps pumping. What's next? New challenges, but we as traders need to be ready for anything.

The Calls:
APA long above $80 to above 81 then 83 to 86 areas. Short below 78 to about 76 area, breaking below to aboue74 then 72 areas.

BIDU Long to about 363 retest, breakout to 372 - 380 possible. Short below 356 to about 350

CSIQ Long above 16 to about 18 then 22 area targets. Short below 14.50 to about 12

DTO short below 80 target 77 area second target 75 area. Long above 82 to about 83.50

GNK Long above 25 to 26.75 then 29 areas. Short below 23 to about 21.50

ICE Long above 93 to about 95, 96 then possibly 98. Short below 92 to about 88

IPI Long above 27.50 to about 28.50 breaking above the 200 dma possible for 30-33. Short below 25.50 to about 23 then 21 areas.

MICC Short below 72 to about 70 then about 68--66 area. Long above 74 to 76 then possible breakout to 78.

PBR Long above 42.50 to about 44.50 Short below 42 to near 40

POT Play between channel extremes of 87 to 97. Short below 95 to above 91. Long above 98 to about 99.50. Break above 100 possible for 102-109

PTR Long above 120 to 122 area, Short below 119 to about 117 then 115 areas with possibility of revisiting 113.

SCHN Long above $55 to $57 then further to 59 and 62 area target range. Short below $52 to about $50 area.

SOHU This is a C&H . Break higher above the 67.50 to about 70 then 73 areas. Short below 63 to about 60. breaking below to about 58-56 areas then lower to 54 to 52 area.

VNO Long above 52 to about 54 area, then about 56. short below 48 to about 46-45

Friday, July 24, 2009

Trading List Final Update for Week of 7/20/09

VNO opened and triggered short below $50 almost immediately, reaching fist target of $49 within the hour. Long trigger above $50.50 did not confirm for entry having the $50.60 immediate pullback after noon then withing the last hour numerous attempts to break through failed.
DTO short triggered more than once during day depending on your style, and stops set, it may have taken 2-3 tries for the low of $80.80, or nearly 2 points.
SCHN Long triggered in afternoon,for up to .70, not hitting target.
POT although triggering long, could not exceed the 96.50 resulting in a neutral trade.
PBR did not hold required 42.50 no position entered.
PTR called long at 119.30 had trouble with exceeding 119.60 area and resulted in a neutral trade.
UTX did not trigger short although near.
APA was another one that afforded only a limited gain finishing on the day high.
MICC dropped dramatically, but did not trigger short today.
ICE entry above $91 rewarded the most on today's list. return for this range trader.

Hi, You may have noticed my sporadic appearance, or absence in the past few days. I've been recuperating from some bug and have visited only a few times on Twitter, therefore my updates and postings have not been consistent.

What is gratifying and I'm happy to see, is that despite my absence, the ranges I've called and posted on the sidebar have been accurate enough to give you good returns if followed. As I've stated in my guidelines, I try to give ranges that one can follow and make target consistently and more than once in the course of time it is posted. Along with the earnings calls I made on the 21st, especially MICC, there were some good returns to be had. The results are posted below this note.

That said, I see a slight crack in this rally and suggest caution going forward. There will be short opportunities coming up if I'm right, and it's not time to jump the gun.

This may be the final update for the week, I'll try to keep up with the market today, but if you don't see me,

Happy Trading

PBR updated today with a new target which was successfully hit at 43.10.
ICE rebounded today and continued to give on long side between the 90-95 range. This range has been on the list and successfully traded since 7/14.
PTR another great day for this reaching the top target of my call of 7/22 at $120. See new update in sidebar.
VNO today reached the high of the target at $49 and exceeded by almost 2 points to 50.99. It continues to be a good trader in the range originally played. 40-52 with variations of long and short. See new update in sidebar.
POT another long trade as called on 7/19 above the 91.34, exceeding target it gave the astute 3 more points.
APA another range rider and good trader for 1 to 2points daily, today it broke out of range to 79+. See new update in sidebar.
SCHN Today was like scripted on 7/13 opening above the $50 and reaching target of $53
See new update in sidebar.
GENZ Yesterday it hit high on target but I removed it because was dated and I felt too long to wait for, so I thought. I have to laugh because today it broke the $53 and made target of $51 area, finally, but of course it was no longer on list.
DTO Since 7/14 losing the 100, this has bee the perfect short reaching $88 and giving more.
MICC from the initial call on the 21st to today, it has exceeded expectations, this, I updated of Twitter for followers when the $70 target was hit, calling for further upside to about $72.50 which was hit and exceeded today. I've added it to the sidebar for longer term. See update in sidebar.

ICE: was short below the 90 for the first time since being followed, as as mentioned on 7/15, it gave limited returns due to bullish outlook.

AKS possible long to $24; short to about $17 lower if bad report RESULT:Tuesday, short to 18.66 low
UTX challenge is $55.25 on the way to $57 RESULT:Tuesday, no position
FCX could fill the gap to $58 on good report; below $56 to $52 RESULT: opened above $58 and peaked at $59.32 before dropping, but short position did not trigger.
MICC could short to $58; on favor, long could finish with cup to $64 RESULT: see below
PNR on favor to $29; but looks like right shoulder so drop to about $25 RESULT the right shoulder fail on the h&s pattern resulted in drop to $26.20 low.
SGP break above $26.10 could favor upside to $29; reverse to $23.20 RESULT: triggered at $26.20 for slight gain closing day at $26.56
VNO posted on side

Tuesday Update preopen on MICC : at this point $66+ is important .. if it can hold or break it, upwards to about $70 is possible. Update post close: Once the $66+ was established MICC continued and closed at the day high of 68.10. Excellent.

7/21 Day & Swing trade watch: APA BIDU GENZ ICE HMSY PTR PBR POT SCHN VNO (new) SOHU

Thursday, July 16, 2009

Trading List for Week of 7/13/09

7/16 09:10PT APA long above $75 to $76-$78. Short below $73 for possible gap fill

7/15 02:25 BIDU revised: finishing near hod we are back on that pattern watch I posted a week back. Short below $290 to near $280 Long above $300 to 303, near $310. Look for the breakout above $310-$311 for pullback but with strength above will confirm continuation of pattern to $322-$325 areas. Results: Wednesday, opened right at trigger, pulled back slightly before continuing upward to near $310 target. Hitting $310 eventually, it retraced while we waited for the next wave. Actual entry for 2nd wave was $311.89 target set to $320, off it took precariously enough at first then it caught the momentum at $313.60, pulled back and even to my surprise, nearly hit the target. Thursday, long at $318 targets hit, max at $325.

NFLX 7/15 05:37 Long breaking above $44 upon confirmation, upward channel may pullback to $40 Triggered long we'll see forward. Thursday: Stopped at $43.49

POT 7/15 05:40 on reversal long at $88, target $90 - $93 Short below $84.50 target $83-$81 RESULTS: Wednesday triggered long for near .50 gain. I noticed this problem area mid day and now it looks it will need to pass the $88.50-75 area for further high. Thursday, opened above first target, no entry yet did not hold it over from yesterday which would've been nice

7/14 ICE Long above the $90 to near $95 breaking above $95 to about $98 . Short below $88 to near $82.50 breaking below to about $80 the 200dma to watch here.
RESULTS: Tuesday, triggered short soon after open; came near to target at $83.74 before reversing. Wednesday, triggered long at $90 and climbed to a day high of $93.61 before declining to near open price. Wednesday,

BIDU 7/12 Has a triple top just below the $287 so it's suspect going forward long, unless a strong break occurs above. Short could form a double bottom at the 266 just below the current 200 dma. Short below $280 atching the 277 -278 level for bounce again breaking 277 is the safer short to 274, 271 areas. Long above the 284 to 286 scalp for the daring. Safer above that triple top with strong confirmation. which could retrace the $289-$293 areas. RESULTS: Monday triggered long at $284, gave the scalp of $286 then moved higher breaking resistance at $287, $289 reaching target of $291 before pulling back.

GENZ 7/12 very tough nut to crack here for below the $53 to the $52 - $51 area. Favored GENZ is scheduled for earnings on 7/29 Traditionally a favorite long so keeping the 7/9 calls in place for this. RESULTS: Monday no trades triggered. Tuesday, no trades triggered. Wednesday, no trades triggered.

POT 7/12 Continuation of the retrace looks like back to $81 with possible bounce low $83 area. Breaking down $80 , look for bottom about $73.. Long above the $94.50-$95 area but that $200dma at 97.70 will be a challenge. RESULTS: Monday opening gave immediate opportunity for short and near target of $81 before the bounce. Tuesday, opportunity again here below the $84 but it did not revisit yesterday's low.Good for a point.

PTR 7/13 02:23 pt Breakdown of the $100 near the $94 is possible below that looking to break to the 200dma currently at $87.74. Long above $103 to $105 then $107 areas
RESULTS: Monday, Triggered short for 1 point+. Tuesday, triggered long and is holding above the 103, not at target. Wednesday, gapped up to the target of $107 today.

SCHN 7/13 2:20 pt New to list, have watched it for a while; Needs to open higher than close and take out the high of Friday. I like the possible upside above the $50 to $52-$54 areas . Short below $47 to $45 breaking $44 to $41 then near $38 possible for the week. RESULTS: Monday, no trades triggered. Tuesday, Trade triggered and dropped back from %51.10 high. Will see going forward. Gapped up to the target this morning, where it was sold.

VNO 7/13 02:09 pt Just who are we trading here? Why other traders of course, I've left this go when others climbed on, it became tight. So we'll test the waters again for short below $39.50 target $38, $36, $34 areas. As usual I don't expect more than a couple of points per day so beware of other traders. Long above $42 but very tight for 1 maybe as it needs to break up the wedge to take hold of $44; above $44, $46 area looks good provided 50dma stays in support. My bet is on the downside however.
RESULTS: Monday, triggered long late in the day for a scalp or o/n. Tuesday: it has a hard time passing and holding the $42.60, so I'm out. Wenesday, triggered long again above the $44 for a poin+ gain.

7/12 Earlier uploaded some trades. Now for the SPX and DOW some opinions:

Sunday, July 12, 2009

Fire in the Belly

Mid July always brings the hottest fire. Perhaps it's because most of the activities taking place are celebrating sunshine. The fireworks on the 4th are just the beginning it builds to a crescendo of dance, music in the outdoors.

Children playing in yards, streets, parks with glee and continually having that energy which only the sun can bring. Water running, gurgling, crashing down the stream, in a fountain, waterfall or beach. Hearing the splash of strokes slicing through water, feeling the liquid slide past the body, cooling, velvety smooth, enfolding one in buoyancy as I swim toward another shore. Or feeling the sails catch the wind as the boat comes easily about and slices through another wave glinting in the sun. The gate that Golden one in the not too distant future ahead, waving to other sails passing by, watching colorful spinnakers unfurl and balloon into shape before the wind. Hearing the wind through the sails as they flutter and then catch the wind to that perfect quiet when one knows it's the perfect tack. Feeling breeze on the face all coupled with sunshine and fire in the belly to do it some more; and I can't stop. Music on, dancing, twirling, feeling the beat as the days ebb into the experience of great wine and food via the cookout whether at campground, park, out in nature or at home.

Cannot ask for more that this, cannot be more alive when the mid-July fires burn.

Happy, Dancing, Living and Trading

Trading List Week of July 06, 2009 with SPX Review

Final Thoughts/Results for the Week:

7/12 Time for the update but then.. you already know the results no? If not, here they are with the calls.

PSMT 7/10 03:37 Earnings pre-market, cup runneth over? Certainly the momentum's there on a favorable report. Pivot $18.42 Resistence $19.53 $Support $17.31 This one could pop higher to the $20 on good report, but roll over is inevitable is my thinking. RESULT: PSMT perfect catch below that $17.31 twice even.

MTL,PGR,INFY RESULT: Picking PSMT I made no attemp to follow these.

BIDU 7/10 02:47 Long to about $288 watch the 18dma break above could lead to about $293-$295. Short below $280 to revisit $277 break below to $270. RESULT: Long was not near the 288 fell a couple of points below but catch at 280-282 areas resulted in nice points for the day and it never went below the $280

DTO 7/9 19:27 Handle time at or near $100 back to about $88. The gray area above the $100 will be to about $102 RESULT: I suppose 98.39 could count as near 100, confirmation for short was on the 3rd 5min bar from the high candlestick.

GNK 7/9 17:06 upside resistance strong at 19.31 passing that potential for a point near 20.40 and possible near $21. Not forgetting it's Friday so be ready for the downside too. Losing today's lows it could bounce off the 17.90 area and the 200dma currently 17.34. Will look again tomorrow. RESULT: Did not look on Friday as I was busy with other trades. Yet from the histgory it seems it did bounce off $18 near that 17.90 very nicely.

GENZ 7/9 16:21 Long breaking above 55.31 target 56.50 area. RESULT: No entries. Did not break for a long. Called it a below $53 short, but that too did not materialize. With long above 54.50 to next week , keeping short call at below $53

PCLN 7/09 Intraday call Long above day high at 106.73 target 107.90 . Short below $106 to near $104. RESULT: Triggered long but did not go above 107 to sustain trade. sold at 106.40 at close for a small loss.

BIDU 7/7 09:27 Still on pattern watch, but it's taking a bit longer . Today looking at short below $277 to about $274 - $272 Long still at $310 RESULT: triggered 10 min after open for the 1st and 2nd targets of $274 and $272

POT 7/6 back to $100? Yes, Long at 98 to 100 then $101+ passing that, can we fill this gap finally? Short below $92 but would watch for bounce near $91 area if it breaks below $90, $88 then $86 possible RESULT: Nowhere near to long, but a very nice short for the week offering several plays, hitting all targets.

All in all a nice week, considering my absence. I will carry BIDU, GENZ, POT calls forward to Monday.

Thanks for reading and following me. Please leave comments via comment area or email.



7/10 03:16 PT Could not update often this week because I had to be away, yet we still have today, Friday, so I posted some possibilities: BIDU, DTO, GNK, GENZ, PCLN are on the list. In addition we have MTL, PSMT, PGR, INFY for earnings watch. So it looks to be a busy day.


7/05 The trouble with choosing plays after a holiday weekend is that one truly does not know the mood of the general public until revealed during the hours.

News is one thing. The mood from a rested public of traders is another. I can go by history of what happened last week and surmise that it will continue this way or that, but I still don't know what the public is really thinking until they catch up with news, work and reality. It's been my experience over the years that the information flow is lags since most people, including me, rather forget the woes of the world for just a few days and celebrate life & family instead.

Rather than listening to news, viewing charts and analyzing details, I've let music and laughter and games replace them. Will war break out tomorrow? I don't know. I know I'm alive and it's wonderful to listen to the trees and birds and when one is in such state, all is alright in the world. I also know that I can carry that state into my trading day tomorrow and quickly enough asses the trends. It's through the centerdness that I speak of so often, that most information flows. I will continue my day in peace and as things unfold, I will post. Until then, I won't let peace be disturbed by opinions.

SPX 7/5/09 23:00 It is time for a revisit of the chart. It has formed a nice inner channel and with that formation, it created the buffer zone or the highlighted critical areas that will make a difference going forward, if broached. Last Thursday's action some thought: "this is it!", yet when looked at more broadly, we've been here before on June 22nd and on May 13th (open high to close low) and interestingly both were followed by up days with the 3rd day being a long bar upside (open low to close high); will this pattern continue? One other interesting note on the subject is that the long down bars are higher open and higher close showing a slight uptrend so we'll just have to wait and see... fascinating isn't it? 879 is still the one to break and it needs to be broken down with strength and conviction, in my opinion, to have the bulls abandon their fight. What is also in evidence is that the overbought/oversold chart shows a slight oversold bias which may also be in favor of the bulls. We still have to remember however that we are trading in the summer when many traders take a wait and see attitude until the fall which can be the reason for the oversold bias and the market having lower daily volume can show wilder fluctuations.

So let's keep letting it unfold and realize that not much has really changed since our last review.
Until later...

Friday, July 3, 2009

Birthday Thoughts

Another year is about to turnover for both me and the country. I wonder if now the USA, like me, rather start subtracting than adding to it's years of glory. Just a fraction of my age of course, comparatively speaking, this country had really no resistance to it's continued growth and light into the world, except the people, who in their hurry to equalize are doing just that to the downside.

Equality is a judgement call. This nation's forefathers knew that and therefore worded the Constitution very carefully about it: All are CREATED equal. There is absolutely no implication there about the people doing the creation, nor is there any implication in the Constitution about it being anyone else's job to equalize, except the opportunity given the individual with birth. Even opportunity is a judgement call. Who,other than the individual, has the capacity to judge what is opportunity and what is not for them? You want proof? Go tell your child what a great opportunity something is and see if they automatically jump at the chance on your say so.

This is not a birthday of celebration like the ones in the past because we have let go of a precious gift: the gift of freedom to choose for ourselves, each one of us individually for our own destiny.

The people, having elected the current government, are asking them to do that which should have been left to the individual. They have relinquished the freedom and gave mandate to the government to chose for them, to judge what is and what is not, equal and what is and what is not, opportunity, for all of us. So the people put their own destiny into the hands of the government ignoring the warnings of forefathers against such power. Of course the government, which we allowed to grow into this monster, has become a bigger beast to feed, and is willing to take on the task with relish. They've eagerly taken control and taken power which the people did not wish to keep for themselves.

It's not your CEO's, big corporations or Wall Street that you need to fear, for they are being tamed as we witness daily. They will be enfolded into the big government structure one by one. What you need to fear is the systematic erosion, slow infringement of rights on all things middle class; that's where and that's who embraces true choice the most, and is the greatest threat to the agenda. It's this type of government that will always be the greatest enemy to the middle class, your wealth and your freedom.

We as traders, too, will be on the chopping block soon enough with the suppression of all things that enable us to be entrepreneurs in the true sense: contributors to freedom. We will be taxed and regulated to the point that only those that can totally bend over will survive. Wall Street is dying, it's being strangled slowly by an increasingly centralized government as it's enfolding the big corporations, and soon enough the smaller ones. Government will be the chooser of who amongst us will be able to continue with this work.

You still have time, very little precious time, but still time. Time to celebrate your freedom and fight for more of it instead of settling for less. Listen to the music. Read the Constitution and oust everyone, yes, impeach everyone, that does not hold it up to it's true meaning because without the America we have known there really is no hope, but there will be lots of change, I'll guarantee that.

Happy Celebration of Birth of the USA. Celebrate and remember the people who built her from near and far and who truly wish to preserve her in her glory, for the better of us all.


Thursday, July 2, 2009

Trading List Final Update for Week of 6/29/09

Final Thoughts/Results for the Week:

APA High $73.81 Low $68.59 Last $69.34
Totally missed this short Thursday. It should've triggered at $70 if I entered the trade, but didn't. Gave nearly a 1.5 points on short side to the astute. Intraday plays were good for a couple this week.
APOL High $72.50 Low $67.77 Last $68.74
Triggered short in the end and holding weekend although this is more of a teetottering hold. May regrett this one.
BAC High $13.48 Low $12.52 Last $12.62
Definitely looking like the $12 before the $14. Not holding nor did I enter. Maybe next week
BIDU High $305.80 Low $287.80 Last $289.50
This watch may turn to our advantage for next week. So far the pattern is holding.
MUR High $55.75 Low $51.85 Last $51.70
Due to extra minutes after hours in NYSE the last is lower. I stated on Twitter earlier,that I cannot take credit for this short as I did not post a newer entry but I was wrong, I did post the short below $53 on Monday to retest the $52-$50. Of course if I updated my blog for it before open, you may have shorted below the $55 this morning especially after it failed the long yesterday, if you did in either case, kudos to you!
PBR High $42.19 Low $38.79 Last $39.00
After a small loss yesterday, it payed off today with the short.
POT High $97.48 Low $89.13 Last $95.70
Continues to oscillate but this week it's a higher high & low from last week. Posted gains both long and short on this. Crucial resistances and supports need to be watched going forward.
SOHU High $68.00 Low $60.12 Last $60.61
Tough player this week and not hitting long target, but as stated it has challenges, and it paid to the shortside more. Today, Gapping down it is testing the double bottom on the weekly.
VNO High $46.21 Low $42.71 Last $42.48
Again the last is due to NYSE being open extra minutes after regular hours. Still playing in the channel, it remains to be seen if it will break it next week. Seeing that it broke down through the 200dma today, it is possible; but let's consentrate on the $42 first. One of 2 that I'm holding over.
XME High $38.63 Low $35.73 Last $36.01
Triggered short yesterday near close, and it has paid perfectly on Thursday for the 2nd time this week. I like that is has broken the 50dma.

Careful planning and holding panic at bay helps to make profits possible and what made this week for us. It is not to say things are rosy, as clearly they are not, but hopefully we keep our heads and keep just watching what is and not what we think it should be. I have a lot more thoughts about this week but I will save it for later as I need to break away from the business of trading for a few days.

Have a very Happy 4th of July (47) and take care of your loved ones.

Happy Trading, Dancing and Living
As ever,


7/2 Midday Update: $PBR near target @38.50 being a dbl bottom on the daily at the 38.50-38.62, caution to the upside; POT 2nd target hit @$97 now watching that $97.50 for further upside; as stated, needs to break&hold the 97.50 for $100 target; $XME $36 target hit 50dma is @$36.46 for stop above; next target $35.30 needs to break below 35.90 next target $35.30 needs to break below 35.90; on a pattern watch; $MUR Not having posted a trigger for the downside, I can't take credit here, it has retested the $54 as stated, &failed it. $BIDU did not breakdown too much so the pattern still holds 4now. Not in a trade here. $VNO needs to breakdown 42.60 for further drop;


7/1 Update: More of the same and very slow day for me today. I'm not saying there are no trades to find out there because there are ..some, but is it worth it? I decided not, and am getting ready for a long weekend instead. We are currently in a short position on XME triggering at $37.39 will see if it drops below the 36.80 in the morning again to test the lows, if not stop is at b/e. MUR triggered a long at open which lasted a few minutes but fell short of the $56, exit was with a small gain. PBR peeked above the 42 but could not hold for a small loss. BAC, APOL, POT closed near a short trigger. BIDU is still on the pattern watch. No other updates but well check in the morning for opportunities and continue to trade carefully. I doubt there'll be much action after lunch as traditionally, traders will leave early for the weekend. Have a great & safe 4th of July weekend.


6/30 Update: Continuing the slow week which will become even slower as we grind on until Friday. What concerns me is that there isn't any attention paid to what is going on in the USA vs the dollar in the world. The dollar is being used less as the currency of faith for trade by increasingly more countries. Hungary has more sense than our government regarding stimulating the economy: they're reducing the income and corporate taxes along with capital gains taxes. But in the USA, we only hear about Michael Jackson's death and funeral? The disconnect has me worried more and more going forward; but we trade on without emotion and act only when the market gives us opportunity. Today there were several XME triggered short at 37.39 and declined to 36.55. SOHU triggered short below $64 ($63.90) and gave a point plus return to target at $62.33. MUR stays sideways; APA did a nosedive this morning giving 2 points and it's still trading within the daytrade range. VNO getting tighter trading within just a point range today; no change on the call since Monday here. POT pushed higher from the open at $93.51 to give a poing and change upside, then reversed for a 2 point drop to low of day; then it remained roughly within a point range the rest of the day. Of the new additions, PBR triggered at $41 and dropped $.50 before returning to start, will keep an eye on this; APOL entering a trade prior to open, reached the target shortly there after, but failed at filling the gap by topping at $72.50. BAC is facing it's challenges well but I would not bet on either way until it washes out; that 200 day is a tight cap but then so is the support. BIDU the pattern is evolving no changes to original thoughts; don't want to jump this gun it could be deadly. OK then keep Practicing Patience.

* 6/30 PBR Looks like either heading higher or forming a shoulder here. Long above 42.05 to $44 area. Short below $41 target $38.50 area
* 6/30 BAC facing a challenge at 13 .52 break above could lead to $15 again, but below is a $12 if it reverses. Not an easy one to trade as too many in it now.
* 6/30 04:00 POT same play but it needs to break above the $97.50 for the $100. Short below $93
* 6/30 APOL Beat earnings and tested $70 after hours closing at $69.35 Long open, stop $68 target $72. Both volume and momentum are based on earnings and strength may not go forward to fill the gap. Short below $68 to $66
* 6/30 03:41PT BIDU interesting repeating pattern has me thinking higher; but holiday week is a factor in volume/momentum. It will be interesting to see if pattern plays out. breaking above the $310 will indicate a go. Until then, only intraday plays best. Break above $310 for long, break below $280 breaks pattern


* 6/29 Update: It's a slow week, all holiday weeks are but this being midsummer, end of quarter and 4th of July, we can't expect much. BIDU had trouble with the 306; MUR didn't get the "umph" to get to 56; APA was like a bump on a log and didn't want to move much; SOHU hit 68 then reversed due to being Japanese, decided to retest toward 64 but did not quite get there before it took off the last 15min; XME triggered then decided it liked the channel; VNO held vigil within the 44; but POT delivered to target 95 then mid 96 early before keeping it tight again. You have to practice patience on days like this.

* 6/29 04:00 APA Can be played as a daytrade between the $74-$71 levels, the call is short below $72 to $71 and above $72.70 to about $73.50. Beyond that, for other moves, I see APA in a channel between $70-$75 areas. Short below $70 to $68 $65 areas, Long above $75 to $79, $80 areas.
* 6/29 05:27 BIDU to $310 retest long above 302 stop 298
* 6/29 03:00 MUR Needs to pop above the $55 in order to go long. Currently calling short here below the trend-line at $53 to retest $52 and $50. Longer looking above $55 for a possible point but failing to pass $56 will again retest the $54 area
* 6/29 03:00 POT Is getting tighter. Watching for it to make a decision, I think it needs to retest the mid $80s on the downside and it will need to pass the $100 to be able to push higher. For now the short side is below $90 to 87 area then to $85, $82 and $80. The Long side above $93.86 to $95 then $97 area.
* 6/29 03:00 SOHU Very nice breakout of channel last week, watch $68.30 area with break above target near $70. SOHU looks to be on its way to filling a cup to the $78 area, but there will be challenges toward that quest. So I remain cautious in targets, as there's a strong possibility to retest the $64 here.
* 6/29 04:00 VNO Channel tighter as it's forming a wedge. Current channel is $44-$42 but it's peeking above the $44 now perhapts to break higher.. but it needs to test a crucial $46 to perhaps give it momentum. Its slightly oversold stance may give it just that. Right now, we'll keep watch. Long above $46 to 47 areas, Short below $44 to revisit $42, stop $44.60.
* 6/29 03:00 XME Looking like a right shoulder formation here: Short below 37.39 target $36 to $34 then $32 areas stop $39.10 Long above $39.70 to $41, then to mid $42. areas. Stop $39.10