Friday, January 29, 2010

The Daily Note - Can't Deny What Is

Are we ready for a real beak down? I wonder if any of us are. I tend to be positive in all I do. Yet what I am feeling and sensing is quite different. No matter how I wish to push it away, it's at the parameters of my mind and demanding more attention. Knowing that if I ignore the signals, I will regret it, I can no longer realistically do so.

Lately my moodiness showed that I tried to ignore what is getting more evident in my experience. The agenda that we are heading blindly toward is not a big leap anymore as some would like to think. All indicators are that the more daring leaders become the more power they feel they have. This government is not holding back much anymore. They are openly declaring what they are about to do and it will be with the blessing of the people unless the people learn real fast that the tactics used is has been tried with success. Listening to an interview this morning with Barney Frank just brings it even closer. Lying straight into camera is nothing new anymore. $820 billion dollars that they are expecting to collect from banks will be in some "lock box" with no intention of spending it (his words); and of course it is not a tax on us people, it is our due, because the banks took from "us". You can all but see the drool at the side of his mouth with the expectation of these new funds that will be collected; and he calls the banks greedy.

Their solutions give me no comfort; it gives me dread and that is what I've been trying to push away from my consciousness without success. It is like denying what is on the charts and we all know where that leads: LOSS

Happy Trading, Living and and and.. Surviving


The Play List:

$BIDU is back again

Posted 07:45 AM Eastern

Thursday, January 28, 2010

The Daily Note - Speechless in Confusion

iPads, Job creation, deficits, gold, markets, interest rates, trillions. Just words swimming around in my head.. no composition just notes, disjointed, without melody. Like nails on a chalkboard; I try to shut it out, to no avail. I'm speechless in confusion

I am speechless here too:

Happy Trading, Living and Clarity

Perhaps some coffee will help

The Play List: For additional and continued service of my trading Play List, SUBSCRIBE Thanks


Wednesday, January 27, 2010

The Daily Note - News Moves

News moves stocks. OK, you know that, that is why you watch earnings reports. It's news. But did you know that there is a great amount of other news that moves stocks as well sometimes quickly other times more slowly.

We all know that analysis in form of upgrades/downgrades, earnings estimates and new products move stocks the most to a greater or lesser degree. Rumors spike them or tank them occasionally, which is why it is important to keep abreast of the real news at all times. Yes but how you might ask? And I will answer that with the current information available out in the marketplace it is a pretty tenuous task.

There are thousands of news services around the world and it is not disputed that most news that make it to the 'main stream' has to be distributed over the main wires. Services that stream these wires largely display headlines. I am sure you are familiar with Dow Jones, Reuters, Business Wire, for business news streams; most of which are scanned without much attention to detail. Of course you also realise that business news is largely released as PR News as well as First Call for analysis news.

These streams are often added to the other main news streams that are sent out by API, the former UPI, Fox, CBS, NBC, ABC and others I've forgotten. It was a hard enough task when I was doing it for a trading room; today it's even more difficult as the news has become more opinion and coupled with distributions not seen before on social media, the opinions often become rumors.

False facts are often enough taken as truths, so we as traders have to be even more aware than ever before not to fall for the news that may be discarded for lack of evidence later.

What I have practiced in the past and still find helpful is to look at the posts and the source. I suppose I have the advantage of doing just that for 3 years so my knowledge of sites is more in depth, but without your diligence in finding out what is truth and what is not, you will never learn to differentiate between them all. So this is what I suggest:

Read the headline, but then read the first sentence, scan to the midsection where most of the real facts are hidden. It is where often you'll find disparity between the headline and the real story and will often be glad you did not jump into a stock based on what was whispered, posted, or told. On the other hand with practice you will be glad that you can jump into stock with recognition that the post carries truth. Remember the more people acting on news, the better the stock moves into the the direction written.

Do not discount the regular news as unimportant. Major events move stocks and if you are aware of them early, you can have an advantage. In example, many companies and commodities can be effected by weather, if you wait for the analysis, you are too late. Being able to decipher news quickly is another trader tool which has its advantages and needs practice.

Happy Trading, Living and Dancing

THE PLAY LIST: For additional and continued service of my trading Play List, please subscribe Thanks

NFLX Earnings Play

Posted 06:41 Eastern

Tuesday, January 26, 2010

The Daily Note - Rewards of Sticking with Targets

Targets are an integral part of trading. It is with targets that a trader knows when to start, and stop. Targets are set for entry, exit and bail. It is the only way to protect cash, it's the only way to keep going and it's the only chance for success.

Emotion grips a person during a trade, it's best to be compared to being in the middle of a storm. No matter how we plan for life, it's when the storms occur that we need to implement the hard fast rules for best survival. Without sticking to the rules, we could jeopardise lives because emotions tend to surface during an emergency. Emotions including and especially fear, can paralyze and make one forget what was initially the perfect plan.

If we learn with practice to adhere to the plan, then the action to carry out the plan will become automatic and less likely be battered by emotion. It is why and how survivors survive, putting aside the emotion enables right action and enables success.

It is why I give targets with my stock picks. We can adjust, as I point out, them while the trade unfolds and when we see the storms direction, but adjustments can be made with a cool head and with targets kept in mind.

Perhaps it's during earnings season that we need to keep especially steadfast to our targets. Yes, we may miss out on a big profit but we can also be saved from a big loss. Remember there is always another rocket on the platform and all rockets need to return to earth.

Happy Trading, Living and Rocketing

THE PLAY LIST: For additional and continued service of my trading Play List, please subscribe Thanks


posted 08:00 Eastern

Sunday, January 24, 2010

The Daily Note - I was ready to relax, then...

I turned on the TV Sunday, ready to relax a while watch some world cup skiing but there he was....

The TV was tuned to my last watched channel, PBS and it was showing "Live from Lincoln Center, Joshua Bell with Friends @ the Penthouse". As I was immediately immersed into the music, I also knew instinctively that the person sitting at the piano had to be Jeremy Denk. No one plays with equal passion to Joshua, a classical piece in my very humble opinion. A couple of minutes later, as the camera panned over to the piano, my guess was confirmed. You see, I tuned in late and I missed the introductions. Although a repeat from a couple of days ago, I was not aware of the program. Joshua's program with all his guest was an exquisite surprise and perfect for my otherwise low key Sunday afternoon.

I watched, heard and listened as the passion evoked by the music poured out of the players' soul via their instruments and into mine. The feeling evoked by such beautiful playing can only be described in heavenly tones. Such a passion is beautiful and brings tears at times for I will never know the total pleasure of playing so well and sharing so much.... and then....

A profound thought hit me. It occurred to me that I was wrong because, I am equally impassioned with what I do and even though I do not play in front of a live audience, I play my instrument daily to one equally alive.

My instrument is a keyboard of a different kind, it plays no notes, but it plays letters strung together into words, and I hope that one day they will bring forth feelings in my readers, that their music bring forth in their listeners. I can only hope that one day I will play my instrument as exquisitely; I know I play it with equal passion.

Trading, writing, music and thou, my audience.. thank you for "listening" to my words.

Happy Trading Living and Dancing

P.S. You will find Jeremy Denk's blogsite on my sidebar in my recommended reading because he is a fabulously witty and profoundly interpretive writer, besides being a great pianist.

The Play List:

$PCLN just took a not of it on open and posted in StockTwits

Posted 09:39 Eastern

Thursday, January 21, 2010

The Daily Note - Google This

Google earnings day ranks among the most watched, hoped and feared and again it does not disappoint..... unless you are on the wrong side of the trade. Stocks like RIMM, AMZN, AAPL and GOOG all have the effect of large moves on earnings announcement. They have taken many up and down the earnings ladder yet like the $dollar machines in Vegas, many can't resist pumping money into the gamble.

I don't like to be burned that much, personally. I limit my one-arm-bandit playing to $20.00 so that should give you a clue, but of course, the after announcement play can be quite different because at the opening minutes if watched carefully, it can be taken to ones advantage.

Liquidity is the key, momentum is the other, but most definitely the limiting ones hunger is the biggest factor to control. This is where momentum is extremely important, as is taking gains into the same direction. Condition yourself to be content with small gains and you can become a consistent winner. Still, no matter how dexterous you are, it can scalp you back as quickly as you have scalped it, so, as with that one-armed-bandit, size control is crucial.

Happy Trading, Living and Dancing

P.S. I posted this Note late today therefore all Play List plays were posted on StockTwits. MA, AMZN both played well from the previous post days. As did DTO although I did not post a comment on it; DTO's target was hit at $74. PCLN was the tightest and not very tradable for me. Other good trades were $BIDU. Hope you had a great day.

$GOOG for 1/22

Posted 18:54 eastern

Wednesday, January 20, 2010

The Daily Note - Let the Fallout Begin

No, I'm not going to talk about the election, it's consequences or make predictions. I've voiced that already. The fallout I refer to is the reverberations we shall begin to experience as the results and it's implications get absorbed and then explode into the atmosphere. The fallout shall permeate everything, everyone, everywhere.

Perhaps this result is again a shot which will be heard around the world, but rest not, for there is always someone ready to snatch victory from your grasp and abscond with your liberty.

For now, let's again focus our attention to the present and to trading. As I said the markets may breath a sigh of relief, but there is still a huge behemoth in Congress ready to act on a Health care $Bill$ of great $cost$ and unknown proportion. The markets have a stake in it, one way or another in the short term but more on the long term and the taxation has already begun.

A short visit to will reveal that along with Social Security, Medicare and most of all government spending ventures are basically failures and would have already been bankrupt except for the bailouts we provide via our taxes. The banks have been made the "fall guy" for all that ails a government which does not wish to take responsibility for their mismanagement of funds.

Most of the population believes the hue and cry not realizing that the banks have, on the most part, repaid their bailout loans with interest and that the federal reserve made $58 billion in interest earnings which the government does not wish to use to reduce the deficit as originally promised.

Why is it that no one is crying out for us to be repaid with interest for all money we have provided to bail out Social Security, Medicare, the Post Office, Freddie Mac, Fannie Mae, and coming soon the Health Care Reform? Do you really think that our tax dollars are well spent?

Enjoy the victory and watch the healthcare industry, watch the financials and banks today, but also watch the fall out. Do not to sit too long with the joys of victory because while you rest, other forces are at work to take your liberties and your prosperity away.

Happy Trading, Living and Victory

The Play List

$PCLN Lower or higher breakdown/breakout possible on strong market moves.

Posted 07:03 ET 1/20/2010

Tuesday, January 19, 2010

The Daily Note - Earnings & Politics

Today is the first day of the rest of the year. It's when traders and institutions start assessing what was hot and what was not and making decisions about how to position themselves into the year, all based on corporate earnings. So the 2010 earning season begins. But WAIT! There is something else in the air! It is an election. An election which could actually change things going forward into 2010. About a week ago I said as much to some people I chat with and was largely dismissed as a person who perhaps puts too much importance on such mundane events, especially where the markets are concerned.

What is interesting is that as I paid less attention, (thinking that,yes, it will make a difference but I cannot hope) the country started to pay more. I decided to give my health a boost and stress out less only to be awakened to a fever pitch when I heard about President Obama's visit the the state.

So then perhaps we should assess the importance of politics on the markets once again, because like it or not, it makes a difference. It makes a difference whether you have a Marxist or a Libertarian running your government and putting their nose in your business. It makes not a small difference, unless you think the difference to be small between prosperity and despair.

I do hope that this nation is finally awakening, because your hoped for vote may really mean nothing soon, if you don't come awake. Watch what happens after this election especially if Scott Brown wins. Watch the Senate, watch the Congress, watch Massachusetts and how well and quickly they enforce this election. Watch them all very carefully, and watch not only for a few days, but for a lifetime because Liberty is not to be watched with closed eyes and a prayer. Liberty always has been and always will be a cause to defend.

I personally think the markets will breath a sigh of relief if Brown wins, but it may be short lived because how the Marxists* in Congress plans to handle the situation could be the " Ace In The Hole".

Happy Trading Living and Voting

*Makes no difference if you call them: Marxists, Liberals, Progressives, Communists, Socialists, Unionists they are all cut from the same cloth; they all want to make their choices mandatory and revoke ours.

The Play List:

$MA Looks like a player again:

MA posted 18:44 ET 01/19/2010

Monday, January 18, 2010

The Daily Note - Had a Nice Weekend?

I certainly did! It's good to step away from the computer and look at the world as it really is. It is something I try to do daily, yet it is not always attainable to the degree where I know there is life outside the glare of the computer screens. Between chores and charts, rushing to and fro,  between live and surreal.

It is hard for me to imagine life without these screens anymore, yet I grew up without one. I danced amongst flowers for amusement, watched orchards bloom in the spring, and imagined life to songs. Needed no prompting from a screen for the screen inside my head and it is exactly where I returned this weekend.  

But, today, the cold and wet drove me inside, and the charts beckon once more.

Imagination.. it's funny .. there is another song

Happy Trading, Living and Dancing

The Play List:

$DTO  continuing from last weeks play,

$AMZN for 1/19

Posted 02:08

Friday, January 15, 2010

The Daily Note - Running on Fumes

How long can we run on fumes? I've never pondered that question. Each day I count on my soul filling up with living. Is there a time when we start filling up less and less? Is the result what we call:"Depression"?

Do we keep drinking in the solution via alcohol? Feeling grand and happy as long as the alcohol keeps us high, all the while knowing that eventually it will take us to the same place: Depression.

Is our collective soul filling up less? The signs are that we are allowing the blame of our situation to fall on the very structure that kept us prosperous for decades. Eventually it will hit us that there's no one else to blame but ourselves.

Are we drinking the alcohol to keep our delusions that nothing has changed aloft?  Have we noticed the breaking down of America and does the act of buying stocks to keep the markets high keeping us high too?  The market seem to suggest giddiness. Is there a high before depression? You bet there is; it's usually just before we crash.

Hope your hangover won't be despair.

Happy Trading, Living and Dancing


The Play List:

$EQR Looking interesting, looking poised, looking good for a tight day

Posted: 01:45 Pacific

Thursday, January 14, 2010

The Daily Note - A Call for Prayers

I don't have much to say except to call for prayers for all the people of Haiti and their families everywhere who were so tragically effected by Tuesday's 7.0 magnitude earthquake. There are many who are clinging to life and many who are helping. They all need our prayers. I thank all those who devote their energy toward helping these people in need.

In comparison, I am thankful that the earthquake of 6.5 magnitude striking 20 miles off shore of Northern California just 2 days before Haiti, did not bring the same devastation to the people living there. They too need our prayers because although the devastation was not even close by comparison, many did suffer loss. I thank all those who devoted their energy toward helping them as well.

As a survivor of the 1989 Loma Prieta earthquake, I know what effect such a sudden shock has on living; having also known war, I'd say it is a fair comparison. Knowing both and more, I also know that prayers work.

Happy Trading, Living and Dancing

The Play List

$AMZN Double Top or will it soar or will it roar?

02:02 Pacific

Wednesday, January 13, 2010

The Daily Note - Ready for a Turn?

What looked like and felt to many as a serious drop in the market, really looks like a pullback upon examination of the charts for the Dow Jones Industrials, and a possible opportunity for a accumulation for a higher high. Did we sell off enough and take enough profits to keep he interest going for a higher high? You can only judge for yourself:

On the 60min chart the DOW was supported and bounced at 10570 area; a previous congestion turned support.

A further look at the 6 month daily we can see the breakout channel trend up which has not been broken.

Pulling out yet again further, the 9month daily confirms the channel and the relative small movement that occurred.

So, will the market turn or will it be a continuation from here to 11000? The charts seem to suggest it.Although we had a monster move up the past 9 months. We are not yet at a turning point. The jittery world markets, the not so positive financial news and of course the economic outlook seem not to phase it's determination.. Enjoy it while it lasts!

Because the tables may turn any time; as only Billie Holiday can sing it

Happy Trading Living and Dancing


The Play List

$MA bounced off the $248 area which it needs to hold.

Tuesday, January 12, 2010

The Daily Note - A Late Start

I always feel a little out of sorts when I am a little late in the morning and had not a chance to prepare the day before. Catching pre-market conditions is always important to me and often that pre-market trade makes my day.

But today, I am late and unprepared. So what does one do? The same thing I always do. Check the market, read the news and see where the movements are. The setups may come later or I have to look more ahead. It takes the same time and the opening may be lost, but being unprepared is more costly.

What I am saying is that it's important to have a clear view and a clear head. Not to chase but go on the ride and pretty soon you'll see opportunities open up on the horizon.

Happy Trading, Living and Oh Yes, Dancing


Thanks to TraderClubTirol, for the perfect tune: Late for the Sky, Jackson Browne

The Play List

Also use yesterdays setups for MA GOLD

Monday, January 11, 2010

The Daily Note - It Can't Happen to US?

I find it difficult to type while my kitty is circling my keyboard clamoring for my attention which I gladly give.. Trying to type as she curls herself under my hand and fingertips for one more scratch behind the ear. It is also difficult to write while thoughts whirl in my head they have to come to some sort of agreement before a coherent sentence can be produced.....Finally the cat lays content on my desk between my arms but my mind continues to do it's thing.. think. I can't come up with anything profound and I continue being troubled.

The thought that keeps whirling in my head is on news that I read, yet little have I heard or seen comments about: January 10, 2010 8:36 p.m. EST (CNN) -- In the wake of his decision to devalue Venezuela's currency, President Hugo Chavez on Sunday said he would put the military on the streets to ensure that business owners don't raise prices.

You may think it 's no big deal, it's a little nation, not worthy of worry here, they often use soldiers to keep their civilians at bay. OK don't pay attention it won't affect us, or perhaps you should,because he is the same Chavez who called the Obama administration as more socialist than his own. Chavez is taking the next step and that is to having all businesses nationalized.

This is a man who is increasingly more popular around the world and is forming alliances far reaching. He has been given standing ovations not only in his homeland but also the UN, Italy, and in Copenhagen not one month ago; and lest we forget he has called for a new world currency.

Ridiculous to fear such a "little" man you think? You do know that it was David who brought down Goliath, not the other way around and as far as I know, David had no inside help. Right? Can we say the same? Yet, on a more serious note, what worries me the most is that most Americans keep thinking that it can't happen here.

I'd watch that dollar and I still like the gold.

Happy Trading, Living and Laughing


Please CLICK to view the new format for


Friday, January 8, 2010

The Daily Note - All Eyes Toward Inspiration

Do traders become myopic over time? In search of what will be, are we focusing too narrowly and too far into the future? I've been wondering that of late, watching the markets move seemingly disconnected from reality; or am I the one with the malady? It is one thing to take breaks and go outside the realm of the multi screen desk, but as I interact with people I realize my working world is very different, indeed.

We are focused daily on business, commodity and financial news with charts, figures, fundamentals and further fill our heads with daily data on employment, output, imports/exports, housing, inflation/deflation, the dollar, the fed, gold et cetera, et cetera, et cetera. The reality is that most people outside our working world give not a thought to what is happening elsewhere from their own arena of life. They have other concerns; they think about traffic, work politics, what their boss wants, how they will achieve their quote, goal or other plans in life, their family. They look forward to the weekend, not ten months down the line, they don't care if WalMart or Target make money, they want to spend as little as possible for their needs. They're worried about buying food, or gas and paying mortgages.

Which makes me wonder .. are we adding any value to anyone life? I know many in the business manage money or offer financial advice. I know many invest and help to start businesses. I also know that our involvement moves markets like never before, and redistributes fortunes a lot better than any socialist can dream. But .. then I wonder .. what else does it do for those living, struggling to get by in their daily lives?

Today we anxiously await the jobs report, everyday millions of us tune into CNBC, watch the endless shows and reports about business and markets. Daily we are pouring through the charts and twit stock picks on StockTwits and think that most people have not a clue about what we do; and if they did, I wonder how many would care or see any value.

Perhaps I'm a little bit down maybe looking for a little inspiration,as the thoughts whirl through my mind and I take a step toward something new... for now it's a new dance.

Happy Trading, Living and Dancing


The Play List:

$BIDU BIDU_2010-01-08_0507

$POT looks to about $128-$131 next long if it holds above $125 Short below $123 to $122-$122 and down to possible $118

$GOLD GOLD_2010-01-08_0642above $84 to near $86 Short below $83 to about $81

$NBR NBR_2010-01-08_0630

Thursday, January 7, 2010

The Daily Note - Trading on Adrenalin

We are embarking on the earnings season again and coupled with opex next Friday, I am reminded that going forward into next week will bring fresh traders into the market. Traders that live only for trading into earnings and opex. What does that mean to us "regulars"? It means that being more cautious on taking positions because they like to drive prices toward the anticipated announcement after which they will drop the holding faster thank you can blink.

It means that it's important to become familiar with the earnings list, and know when your favorites are announcing. Become familiar with their historical prices and expected earnings for the quarter. Then monitor any unusual activity. It means becoming alert to any strongly driven price change especially if coupled with a quick reversal. Also start monitoring the news more closely something that you should do anyway because news still drives prices.

Earnings trading is like living on adrenalin; it starts slow but builds in volume towards announcement day. Clues become more apparent when sudden spikes or drops occur as those in the trade could be testing the waters. Activity builds to a crescendo and with the most popular stocks, like GOOG or AAPL, RIMM, etc. the wait becomes hushed, nervous or frantic. You can see the ticker twitch as the adrenalin takes over so when the announcement finally comes the result is a uncalculated reaction. Amateurs trade and react on adrenalin, professionals will have calculated the trade and will either ride it out or are long gone before the figures are announced; their adrenalin is present but their reaction is controlled.

Not many things are worse than being caught on the wrong side of a surprise earnings announcement; equally there's not much better than being on the right side. But, unless you're an adrenaline junkie with money to burn, I suggest staying away from such adventures and opt for bungee jumping.

Happy Trading Living and Trippin'


The Play List:

$AAPL continue watching for short targets as previously listed: entry short below $210
$POT retest of $124 is possible but watch the downside mood
$FWLT still moving higher, touching $33 yesterday, time for near $33.50 then near $34, but depending on mood of market, protect the gains.

Wednesday, January 6, 2010

The Daily Note - Flying high on VFR

We all love a clear day. No matter what vehicle we use for transportation, clear days are easy going or as the song goes "On a Clear Day You Can See Forever" and we certainly have been yearning for clear days for at least the past month. Since the new year however, the way the markets have been acting, it seems we're flying high and seeing that forever. But what happens when the weather changes; when the fog settles in, the storm gathers?

While the sun shines, we can see clearly, but when clouds gather, or fog sets it, things get obscure. Although we always keep an eye on our instruments, it is when we fly into blind conditions that we are reminded how important those tiny gauges are in our cockpit. Those gauges, or what traders call the indicators, are our life savers and their accurate reading becomes crucial for a safe landing.

As it is important for a pilot to learn how to fly using IFR (instrument Flight Rules) under certain conditions, it is equally important for a trader to be able to rely on indicators for safe navigation of a trade. No matter which indicators are your favorites, do keep your eye honed so on days when market directions are not so clear, all those hours of study become worthwhile and you can still make it an enjoyable flight.

Happy Trading, Living and Flying

The Play List:

$FSLR Long above $138 to near $140 then to near $142.50. Needs to break above 143.50 for a significant higher move toward $147-$149 to fill the gap. Short below $137 to $136 braking $135 means revisit to $134 area with possibility below to near $132

$FWLT was a intra-day pick on Tuesday morning for Long at $31.10 with target of $32.50 and 2nd target of $33.50 area. We'll continue the trade with the long target of $33.50-$34 area. Short below $31 to near $30 and $29 levels.

$AAPL, $BIDU, $POT continued from the Play List on Monday. Adjust to further targets.

$AAPL no adjustment for open

$BIDU BIDU_2010-01-06_0318 Long above $408 to near $410 breaking above $410.70 to near $412-$414 then higher to $417. Short below $405 to $404-$403 area breaking lower to $400 $398 areas.

$POT POT_2010-01-06_0345 long above $118.50 to $119-$120 needs to break through for further highs above $120 to $122-$124 areas. Short below $117 to $116.50-$116 then $115.50-$115 area.

Tuesday, January 5, 2010

The Daily Note - Fresh Tracks

There are days when my mind just goes blank, not knowing what to expect, I stare at my screen of snow. I don't mean the TV kind, I mean the real beautiful scenery of snow: Pristine, ready for that first carve, fresh track kind of snow.

We should start each of our trading days that way. Cold air nipping at nose, cheeks red frost biting, quiet early hush laden morning. We can feel that first carve before actually doing it. We see it and feel the twitch of the muscle before we tip forward with anticipation. It is also how each trader should start their day. See it, feel it, taste it; then execute that perfect run in perfect rhythm on a perfect day. In this way, no day will become boring and no two runs quite the same.

Happy Trading, Living and Skiing

$AAPL Long above $214 to $216 breaking higher to 217.50 areas then $219-$220 up to $226. Short below $210 to 208 area then below to near $205. Breaking lower, $203, $200 - $198 possible.

$BIDU Long above $114.70 to near $419, breaking above $420 to near $423 then $425. Short below $410 to $408 area breaking lower to $404, $400 $398 areas.

$POT Long above $114.50 to about $117, higher to $118, 120 areas. Short below 1113.50 to $111-$110 areas breaking below to near $108.

Sunday, January 3, 2010

The Daily Note - Looking Forward 2010

As with the last days of the year, full of self-congratulations, the beginning of the year is full of predictions. In a world where we don't believe in astrologers, fortune tellers, psychics or voodoo, it's amazing how much we pour over graphs and charts, much like they do, to foretell the coming year. What we think and what we'll do now may change going forward and it's important to remember that no matter how, change is the only thing permanent. Climates included.

It's not so much what we say, said or predicted, as it is how we can keep up with those changes, day in and day out; how astute we are to the nuances and how well we adapt. Changes are not easy for anyone. We, as human beings, may get comfortable with the satus quo; but we, as traders, know better than to let ourselves sit too long in the easy chair. As a result the only thing I can predict is that like always, this year will take intense work to keep all possibilities in view.

OK, so you want a prediction from me? The charts & stocks will go up, down, sideways and I will still be a $______$. But seriously, no matter what I post, say, plan, shout, profess or generally boast, it's how well I take action which will make the difference for the year. . So it is my actions, and not what I predict, which prove what I can do; and it is my trades, not my words, which prove my predictions.

That said, here is mine for the year 2010: The Dow Jones Industrials $DJI

Short below 10400 to about 10350, breaking below 10320 to about 10270, 10200 then 10127 areas. Break down of 10000 we'll see 9900-9800 retest.
Long above 10500 to retest 10550 breaking above to near 10600 after which 11000 will be possible with regular intervals. Moving higher on strong momentum the 11200, 11400 and 11800 can be revisited once again.

So now, here is to your trades, actions and foretold prosperity, why, because the Universe supports what you want, but you have to take the action to prove it so,

Happy 2010, and as always, Trading, Living and Dancing