Tuesday, December 1, 2009

The Daily Note - Holiday Spending

It's December 1st and everything is rosy again. Hope is all around us again, last month of the year time for holiday cheer and spending.

I went shopping last evening, found places empty. Ok, maybe they all got done yesterday, you say. Well, hate to say, but I had no problem parking on Sunday. Sure sign of a blockbuster holiday for retailers. Of course it's not the way I like to measure things as said before, but the market does. Doesn't it? If it does than why is it so happy again?

Oh I know, gold is up! Did we return to the gold standard? Oh I know, Congress will stop spending us into oblivion. Did they discard the healthcare bill as a bad idea? Did they decide not to tax us into pauperdom? Have they voted for their raises yet? Oh forgot that is slated for the last day before vacation. Or is the market happy because 4 English sailors have been captured by the Iranians, or that an oil tanker has been hijacked by the Somalians? The tanker was headed to USA by the way, how much will we pay?

I know, I sound very pessimistic here, or perhaps I am a real optimist that reality will one day strike home with us all. Oh it did you say? Ah yes, brokers, it's bonus check time! Welcome to reality.

So let's get down to trading and don't let the above thoughts taint your view:

BIDU Long above $434 to $437 then $439, breaking above to $441-$442. Short below $432 to near $430 breaking below to $429.80. Breaking $429 to about $426.


$MA long above $240 to near $242. Breaking above $243 to near $245 is possible, with momentum. Short below $236 to about $234-$231 then near $229.

CSIQ Long above 22.20 to near 23.85 breaking above $24 to near $26.60. Shrot below 21/80 tp mear 20 then lower to about 18.70


MT Long above $40 to near $42. Short below $39. to near $37