Trading List Final Update w/o 6/22/09

Final Thoughts/Results for the Week:

APA High $74.01 Low $70.33 Last $72.22
Although not hitting target, it was a gainer on Wednesday and again on Thursday if played at the open. Short signal did not trigger.
APOL High $68.25 Low $63.59 Last $68.50
Triggered short shortly after open on Monday and hit target midday. It also gave short entry on Wednesday at open and hit $64 target shortly thereafter.
VNO High $44.79 Low $41.78 Last $44.56
Worked as a short below the $44 hitting the target 2 days in a row. It never triggered the call for long.
SOHU High $67.18 Low $60.33 Last $67.73
Added on Tuesday triggered long rolled over at 62.27; target hit on Wednesday with continued gains through Friday.
POT High $95.35 Low $87.20 Last $93.09
Targets hit both Monday and Wednesday in a tight trading range, Pot will most likely give better moves going forward.
PTR High $111.61 Low $103.40 Last $110.98
Opened with a gap up at $107.54 it made a high near the 2nd target; gave a several point gain opportunity of Thursday.
NFLX High $42.68 Low $39.02 Last $40.37
Played well on short both Monday and Friday, $43 seems a difficult point for it but it's not ready to drop to the low side. We'll watch for channel plays next week

All in all a careful week with good gains despite the FOMC and other reports.
Next week will be beginning of summer holiday time and we'll probably have slow trading as on Friday, with many people taking the week off and the closing of the quarter on Monday. Enjoy your weekend, and Remember a Time with Michael Jackson.

As always,
Anni

Week History Below

Friday
6/26/07 18:12 ET Nice ride down on NFLX today that was only call
06/26 12:59et NFLX could breakout or bdownn here. Long above 42.82 to 43.30 area then possibly 44. Has support at 42.07 so Short below 42.00 target 40 area.

Thursday
No calls or posting

Wednesday
Due to FOMC meeting and announcement it's advised to be extreemly cautious. Expect volatile moves especially just before and after the announcement. Best to be in cash from daytrades. Let market settle before continuing trades. Don't trade at all if uncertain of signals.
6/24: 01:00 APA I like long here to retrace the gap to about $75; pop above? the 200 dma will be troublesome and the breakdown of $70 to retrace all the way to $62 is on the watch.
6/24 00:30 PTR double bottom and 50dma support for a possible bull move back to $107 to $110 area. For confirmation check premarket and opening momentum. Long above 105.50 to targets. stop 104.14. Short below the 50dma 104. to targets 101 and lower with retrace to $95 area.
6/24 00:54 POT in a quandary, pinned to the dollar? Bouncing on good treasury news and major support 2 days in a row, what's next? FOMC watch is on and will influence. There's a tempting gap up there above the 100 and POT has been known to travel fast, but I'd first watch the 50dma to see if perks up the trend. Again, short below $90 to about $87 breaking below to $85 to $79 on further downtrend. Long above $93 to $95 to $97 and higher on momentum.

Tuesday
6/23/09 12:57 SOHU Long above 62.14 stop 60.90 target $64 Short below $60.90 target $60 then $59, $57.50

Monday
6/22 16:30 PostMarket Update: POT very tight range until amost the end but remember POT had lost almost 30 pts prior to today. Market caught up. Still it yielded a couple of points from $90. APOL short $66 target #1 hit $64 before it reversed. NFLX retraced to $40 from $41.35 at open. Good for a point+. It has not filled the daily gap low. VNO opened in the channel but could not hit $45 and therefore short presented itself at $44 yielded a couple of points when end of day it finally hit the $42 I've been targeting for a while. Hang in there it's going to be a bumpy ride!! Anni

Weekend for week of 6/22/09
6/22/09 03:15 APOL If rhythm continues, this touching the 200 will reverse toward the $64 and $62 areas
6/22/09 04:00 NFLX look to retrace to $40 if it breaks below it could fill the gap. 50dma keeping lid on long will be called above the $42 to $44 area.
6/22/09 03;30 POT looks ripe for a pause being supported at the 200dma and may bounce between the 50 & 200 . 200 tends to be the stronger support and breaking that, it's on the way to $80. on a bounce look to fill the gap. Dollar and treasury auction will impact. Depending on open,, look to drop and test the 200 then depending on momentum look to short below the 200dma $90 , Long above $94 to about $97 +.
6/22 03:20 VNO Back into the channel, VNO seems ready for another run but the 50dma seems to cap it. Watch long the $46.80 area, if it breaks above to $47, $48 again is plausible. Wait for direction. Short below $44 to lower range. Housing and Fed news will effect this.


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S & P and FOMC

I don't see any change in the S&P chart to warrant any updates from my original comments on 6/22/09. There are now many mentions of the 880 (not the Interstate) on Twitter and Stocktwits which I've outlined as being strong support area on my chart on the 22nd. My number is 879 but in fact it can fluctuate anywhere from low to high in that 11day support period and I think we won't be out of the woods until we retrace and hold 930 upside. The 879 is a critical support, but emotions must be controlled if panic is to be abated. Put stops in if holding any longs and adhere to them.

The FOMC will add volatility and at this critical juncture it won't help as people await their decision. It is best to watch, flat, before and after while the reaction washes out. I also tune out all analysis and just watch the market as the charts tell the true story because in this game the winner takes it all.

Happy Trading, Dancing and Living
Anni

SPX Update: The Fed Watch Is On

Will it rally or will it fizzle? the 50dma is sitting just under the 200dma this double support could bode well for the S&P because it tends to be strong both is anticipation and in fear; the fear of losing out. For all the hubub, the S&P didn't really move much Friday; opening and and closing prices were within a couple of points.

The hesitation here or the continued treading will probably not end until the FOMC meeting and announcement and the results of the Treasury Auction becomes available.

That is not to say that we are unable to trade this because there's enough volatility with the fears battling each other to put in a trade or two, but those who do, better be ready for a quick and possibly sharp swing in the market.

There's also the discussion on the net about the Fed's motivations behind the markets remember that the enemy is the "expectation". It is better to be ready for anything than to presume we know what will happen and why. Without expectation, you can be ready for anything, and react much quicker to changes.

There are always possibilities and SPX is no exception: SPX will drop toward the 200 dma around 902 or raise toward the 950 at good/bad news with more volatility. It can follow the 50dma up or it can drop with both the 200 and 50 down to below 900. The range is highlighted in a red box on the chart. Note that there were 11 days consolidating the bottom and 11 days consolidating the top of that range. Fascinating rhythm !

Happy Trading, Dancing and Living
Anni

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