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.

Anni
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Friday

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.

Monday

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...
Anni

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.

Anni

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,
Anni

Thursday

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;

Wednesday

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.

Tuesday

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

Monday

* 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