UPDATE

Nice when they work

ABAT

I was so all over the place today that I forgot to mention this one, although I did alert everyone on Twitter this morning. The chart looks great and volume is exploding. I was long a few weeks ago,and posted it then. I made some money and nibbled today. I should have taken size. I've had it on my screen ever since. Could be a runner. Nice , nice volume.

ABAT

As a rule I never play stocks under $30 but I caught this one today. The volume doesn't lie. There was a beautiful pennant set up followed by off the chart volume. A break above $5.70 on big volume could put this at $8-9. May need to breath a bit but keep it on the radar.

Wicked Volatile

I covered some financial shorts early before they rallied. I was lucky. I shorted MS pre open and covered for a point and a half within the first half hour. UYG, WB and LEH were covered from yesterday basically at the lows of the day. FDX started the day off with a bad number and a gloomy outlook. This is a company that is quite a tell for how the economy is doing. I caught CHK for a beautiful trade before it decided to roll over with the rest of the sector until it strengthened later in the day. I caught a little name, ABAT, from $5 to 5.50. The chart was amazing until it gave up the ghost in the afternoon. I will be watching this one in the days to come. If it can get through $5.70 with volume it should explode. It' s a China name that makes batteries. I know, the hair is up on your neck from the excitement. Oil went away near the high of the day and the financials tried their best to rally. The only reason I covered the financials was because I caught the gift of a bad open. I still think they go lower. The XLF breached the March low that I have been watching for weeks but quickly recovered. The DOW also broke 12000 for a short period. All in, it's hard to be bullish right here. It really is all about the oil bubble popping, and when it does we will see a rally of enormous strength. The question is when? Stay liquid so you can play when it does.

PS The steel stocks came on strong at the end and I caught AKS for 2 pts. I forgot about that one. I almost took it home but it's not the take home market for longs yet. Keep an eye on it though.

Mid Day

So far it's crazy and with triple witching anything can happen. I covered some shorts and sold some longs. I don't really ever play the cheapies but I am a long ABAT, it has a phenomenal looking daily chart