Nice Rally

The bulls got tired of getting their asses kicked and mounted a nice rally. When the market got down near 12000 I thought there might be some support and as it turned out there was. It seems every time the ABK rumor kicks in as it did today, it marks the bottom for the market. The brokerages,banks and insurers have taken a massive pounding the last few days and I caught a nice trade on GS about a point off the low. COIN started off strong,pulled back and then mounted a beautiful rally into the close. I heard the Gartman letter owns it and made some positive comments. DECK got all the way down to $101 before it rallied. Still a great short and I will hold this one for a bit. CMG tagged $94 before coming back to close around $96.5. It was a good day for the most part as I just took what the market gave me. As usual. I will be back later if I can find some charts.

Update

They are taking them out to the woodshed here and shooting everything. The shorts are working and CMG looks like it really wants to crack big time. Ags, metals, and financials are all weak here and there really are no pockets of strength. COIN is hanging in there and could be a nice trade later if they turn it around. Good Luck and keep those stops tight.

COIN--Nice, Nice Chart and Going Higher

I love this stock. When I see a chart like this I wish I was a little longer term. I have day traded this since $9-10 but I really missed the real move. I don't know the fundies as I am strictly a technical trader but it looks like $20. What a chart. Good luck tomorrow.

Futures Lower

I didn't get a chance to post last night anfdwe are lower going into the open here. SLW and PAAS still look like good entries. I traded COIN yesterday but got caught on the selloff. I will be cautious today as I really do feel the fed is in a real pickle here. The U.S. dollar hit a lifetime low,oil is over $100 and food prices are soaring. The wall of scenario is in full play here and the market seems to be taking bad new well.

Update

UEPS-has broken out of a 4 week trading range and out across its 40 day moving avg. resistance on the daily chart
SEED-waffling here but did the same on Friday
COIN- may not be done as I write,if can get through $13 on a volume thrust and accelerate, it could target $14.50-15

Two Stocks-COIN,SEED

I'm running a bit behind this morning but two stocks I am watching for potential entry today
COIN- Converted Organics Inc-traded it a bit on Thurs. and Fri..Closed Fri, at triple tops resistance-if it takes out $8.70 my targets are 10.50-11.00
SEED-12.50-13 my new target short term-support 8.75-9

be back in a bit