Post Market Update Friday 5/1/09: Watching the last 1/2 hour today illustrated just how much disagreement there is amongst traders about the state of the economy. Buyers and sellers were literally punching it out and it was a fun watch.
This morning set the tone when $MA reported less than great expectations going forward despite beating the street. Strong pullback many of the well advanced stocks among them V. When the market did not tank on more buyers started to come into the market and the BB battle started, at first timidly ending by the final bell in a full war with Bulls winning this one.
The Trade list did not play out as expected today for the most part for reasons stated above. $GNK being the exception, hit entry early in the day and the $21 target before pulling back. zzzzzzzzzzzzz $IBM channel narrowed to 1.5 point range so the plays were much more narrow but so was most of the market. $CSC did not open higher higher than yesterday's close and stayed sideways most of the day so this will be a play going forward. $DVN entry was hit today with gains below expectations but still a decent $.80 could be had. Keep this also going forward as energy stocks will be in play I think this summer. Did not play $COST or $BIG as whenever I looked it was never the right time to consider them viable for today. $MA and $V had a few scalps in them both long and short as did $SKF.
So overall the week went as planned and had some very nice opportunities and gains fromthe list posted. Hope you had a great week and will have a great weekend.
Anni
Friday, May 1, 2009
MayDay Observations
The past week I'm having a feeling of a rhythm reentering this market. It could be because it's earnings season and it could be because it's spring and people get naturally optimistic. At a meeting the other night several made optimistic observations including the fact that real estate around the Bay Area is being viewed as more opportunity now with many bidding wars happening again with foreclosed homes in desirable areas, as well as how the restaurants seem to be full of patrons even on weeknights.
I'm not of the belief that we are out of the woods and certainly not in the camp with how this recession is being handled by our leaders, politicians, manipulators and the media. So I'm alert for a pullback and not ruling out the possibility of another steep drop (the other shoe), but I'm also keeping in mind how the other "shoe" was awaited after the last pullback (2003) and it did not drop until years later (housing).
I have said and observed it to be true that somehow politicians and the media along with financial analysts and advisers with all their financial engineers never seem to gauge the economic conditions correctly but the people do. It's why I'm so against believing all the "gurus" with all their opinions (since I don't think of myself as a guru, that statement does not include me, of course). LOL. Definitely watch what the people do and believe your eyes and the feelings rather than what is being told to you on any media.
Your agenda is and should be to live and enjoy life; theirs is to make you feel miserable so you can be more dependent on them.
When we're uncertain, in fear and in panic, we tend to look outside for answers and safety forgetting that we know best, what is best for ourselves. What I think is happening is exactly that we, the people are beginning to count on ourselves and what we can do again, especially when seeing that our many pigskin awarded, highly educated elected officials seem to think we need to run around the world for it.
Scatter and you'll be conquered; gather and you'll vanquish.
Happy May Day (not the red kind)
Now go dance around a maypole somewhere and enjoy!
I'm not of the belief that we are out of the woods and certainly not in the camp with how this recession is being handled by our leaders, politicians, manipulators and the media. So I'm alert for a pullback and not ruling out the possibility of another steep drop (the other shoe), but I'm also keeping in mind how the other "shoe" was awaited after the last pullback (2003) and it did not drop until years later (housing).
I have said and observed it to be true that somehow politicians and the media along with financial analysts and advisers with all their financial engineers never seem to gauge the economic conditions correctly but the people do. It's why I'm so against believing all the "gurus" with all their opinions (since I don't think of myself as a guru, that statement does not include me, of course). LOL. Definitely watch what the people do and believe your eyes and the feelings rather than what is being told to you on any media.
Your agenda is and should be to live and enjoy life; theirs is to make you feel miserable so you can be more dependent on them.
When we're uncertain, in fear and in panic, we tend to look outside for answers and safety forgetting that we know best, what is best for ourselves. What I think is happening is exactly that we, the people are beginning to count on ourselves and what we can do again, especially when seeing that our many pigskin awarded, highly educated elected officials seem to think we need to run around the world for it.
Scatter and you'll be conquered; gather and you'll vanquish.
Happy May Day (not the red kind)
Now go dance around a maypole somewhere and enjoy!
Trading List Week of 4/27/09
Trading List for Friday May 01, 2009: There's a lot to choose from here are a few: I like to stay with what is working with just a couple of more to add that caught my eye.
$ IBM had another 4 point trading range day. It broke out of channel 2nd day in a row. Possible futher uptrend to $111, then $116 area.
$DVN did not break out of channel looking for same entry as before : long above $53.63 looking for about $57
$CSC look for long reversal to about $41
$GNK back on list with growing positive volume entry above $19.48 looking for $21 target again and secondary $23.
$BIG broke through a top consolidation today and pulled back to close at the top range of it. Looks good for continuation up to $29 and possibly to $30-$31 levels going forward
$COST got within hair of $49 target looking past $49 with momentum next target is $52-$53 area
$V nice on earnings and closed midrange on Thursday . Depending market conditions, $71 next target still holds provided it can get past $68
$MA filled gap to $188 Thursday and on earning in the morning could go to $198
With many stocks at 6 month highs there's a possibility of a quick and rather sharp pullback. So always be alert and set stops. Market still feels strong but there's a little feel of anxiousness building as we continue forward. A pullback is inevitable so don't let it surprise you.
Anni
___________________________________________________
Updating Post Market Thursday 4/30/09:
V hit targets 1 & 2 before pulling back to reload.
MA entry on open hit $184 target and went beyond. In KLAC from $27.21 per list, and in BIG from $26.85 per list.
PNRA missed this entry and $DVN no entry yet. SKF hit new low SWEET check list
COST really resisting that $49 so far
_________________________________________________________
Trading List for Thursday 4/30/09 : With $V report and $MA credit/debit usage up will bode well for store stocks we were already tracking $BIG and $COST. $COST could finally see $49 then $52 area next target breaking $49.30. $BIG looks on uptrend again, breaking $26.85 will be key to further uptrend retrace.
V good earnings play above close entry to $65, $67, $71 target areas watch volume trend
$MA Looks good to about $184 provided it doesn't gap there on open.
$KLAC looks nice to about $29 entry above $27.21
$DVN looks nice above $53.63 to about $56 target \
$PNRA for a possible bounce off the $54.40 area, stop just belo
and our fav $SKF short retest of $54.4 on the horizon and could break lower.
Of course everything listed above is dependent of actual market conditions. Focus is on the SP500 holding and getting above the 880. Remember, nothing's written in stone, that's why it's a market.
_________________________________________________
Wednesday Post Market Update 4/29
SKF under $60 short (which I posted on twitter yesterday) again held true and retested low #1 and #2 the morning may see the $54.50 area watch for further breakdown if market is as strong as today.
$IBM broke out of channel today to the upside for a good bonus
$COST $49 keeps eluding but the low $46.60 area is also the past. There's a consolidation going on . Todays strength and good $V and $MA reports could assist for breakout upside.
I did not watch $BIG, $BCSI, $EXPE today
_________________________________________________
4/26/09 for Monday 4/27/09: $BIG looks like it filled a cup now waiting for handle
$COST has been nice and is still a play. Same scenario on a pull back, long $46.65 with $45.50 stop. On momentum this could take us up above $49 as it hits higher highs
$TROW long target $42 area look for poss pullback to approx $36.80 to bounce off the 200 or higher open as signals
Look for EXPE to break above the 200ma & to break $12.12 to continue upward trend to about $17
On the other hand, Airline/Travel Stocks may be effected by the Flu Pandemic Scare
I like Oil's slow upward trend. OIH looks nice to about $99
$BCSI long on open of abover $14 to refill gap to $15.20 area
$IBM sideways channel daily between $98+ to $104- trading in a 2pt range. Look for direction after open. Consolidation so break down/up is possible as well. Watch it to stay above the 200 Dma
Have a great trading day...keep your stops true!
Anni
PS. Almost forgot.. sweet $SKF Friday hit my call for low of $55-54 area of 4/17 even as I was early in my anticipation , Will it stay down for long? The coil is tightening but so is the fear of loss so I'm cautious now both ways.
$ IBM had another 4 point trading range day. It broke out of channel 2nd day in a row. Possible futher uptrend to $111, then $116 area.
$DVN did not break out of channel looking for same entry as before : long above $53.63 looking for about $57
$CSC look for long reversal to about $41
$GNK back on list with growing positive volume entry above $19.48 looking for $21 target again and secondary $23.
$BIG broke through a top consolidation today and pulled back to close at the top range of it. Looks good for continuation up to $29 and possibly to $30-$31 levels going forward
$COST got within hair of $49 target looking past $49 with momentum next target is $52-$53 area
$V nice on earnings and closed midrange on Thursday . Depending market conditions, $71 next target still holds provided it can get past $68
$MA filled gap to $188 Thursday and on earning in the morning could go to $198
With many stocks at 6 month highs there's a possibility of a quick and rather sharp pullback. So always be alert and set stops. Market still feels strong but there's a little feel of anxiousness building as we continue forward. A pullback is inevitable so don't let it surprise you.
Anni
___________________________________________________
Updating Post Market Thursday 4/30/09:
V hit targets 1 & 2 before pulling back to reload.
MA entry on open hit $184 target and went beyond. In KLAC from $27.21 per list, and in BIG from $26.85 per list.
PNRA missed this entry and $DVN no entry yet. SKF hit new low SWEET check list
COST really resisting that $49 so far
_________________________________________________________
Trading List for Thursday 4/30/09 : With $V report and $MA credit/debit usage up will bode well for store stocks we were already tracking $BIG and $COST. $COST could finally see $49 then $52 area next target breaking $49.30. $BIG looks on uptrend again, breaking $26.85 will be key to further uptrend retrace.
V good earnings play above close entry to $65, $67, $71 target areas watch volume trend
$MA Looks good to about $184 provided it doesn't gap there on open.
$KLAC looks nice to about $29 entry above $27.21
$DVN looks nice above $53.63 to about $56 target \
$PNRA for a possible bounce off the $54.40 area, stop just belo
and our fav $SKF short retest of $54.4 on the horizon and could break lower.
Of course everything listed above is dependent of actual market conditions. Focus is on the SP500 holding and getting above the 880. Remember, nothing's written in stone, that's why it's a market.
_________________________________________________
Wednesday Post Market Update 4/29
SKF under $60 short (which I posted on twitter yesterday) again held true and retested low #1 and #2 the morning may see the $54.50 area watch for further breakdown if market is as strong as today.
$IBM broke out of channel today to the upside for a good bonus
$COST $49 keeps eluding but the low $46.60 area is also the past. There's a consolidation going on . Todays strength and good $V and $MA reports could assist for breakout upside.
I did not watch $BIG, $BCSI, $EXPE today
_________________________________________________
4/26/09 for Monday 4/27/09: $BIG looks like it filled a cup now waiting for handle
$COST has been nice and is still a play. Same scenario on a pull back, long $46.65 with $45.50 stop. On momentum this could take us up above $49 as it hits higher highs
$TROW long target $42 area look for poss pullback to approx $36.80 to bounce off the 200 or higher open as signals
Look for EXPE to break above the 200ma & to break $12.12 to continue upward trend to about $17
On the other hand, Airline/Travel Stocks may be effected by the Flu Pandemic Scare
I like Oil's slow upward trend. OIH looks nice to about $99
$BCSI long on open of abover $14 to refill gap to $15.20 area
$IBM sideways channel daily between $98+ to $104- trading in a 2pt range. Look for direction after open. Consolidation so break down/up is possible as well. Watch it to stay above the 200 Dma
Have a great trading day...keep your stops true!
Anni
PS. Almost forgot.. sweet $SKF Friday hit my call for low of $55-54 area of 4/17 even as I was early in my anticipation , Will it stay down for long? The coil is tightening but so is the fear of loss so I'm cautious now both ways.
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