By The Way

Some folks let me know that my feed was acting screwy. It is now up and running. If anyone is having a problem,please shoot me an e-mail. Thanks folks.

Window Dressing?

I have to give the bulls a little more credit than that but the hedgies I talk to are bleeding and they not only wanted to get long today but they needed to get long today. It was a "just buy anything" kind of afternoon and I just went with the momentum. The shippers exploded on short covering and the consolidation that's been going on. The financials ripped higher and even housing had to be bought. I'm a bull but I still don't trust it. Bear market rallies can be great but they will pull out your esophogus when they sell off. I'm riding the bull but I am very cautious. We had about a 550 point intra-day point move today and I have been saying for weeks that 1-2-3% intra-day moves will become commonplace. The volume was good and that is always a good sign. Google got whacked in the aftermarket but it could turn higher tomorrow if the market lets it. I will try for some charts later but the first episode of LOST is on tonight. I made my profits today on MSFT,TBSI and some GOOG, short in the aftermarket. Got lucky on the latter.

Cramer Strikes Again

It was textbook yesterday,Cramer shows up on CNBC and pulls one of his patented buy,buy,buy rants,for the general market but especially the financials. Within a nano second we give up 200 points on the Dow and the financials get crushed. What a talent.

GOOGLE

Tomorrow after the close GOOG reports. Based on todays action,unless it blows the barn doors off I think it will join the watery grave where AMZN, INTC,AAPL,RIMM and the rest of the technology companies now call home. I don't feel any good karma on this one at all-hope I'm wrong. ISRG also reports tomorrow and the options are showing a potential 22 point move either way. We got the cut, the market and the financials rallied and then rollover time came. We have to see if key support can continue to hold,which was tested today on the S&P 500 at around 1353. The level I will watching on the NDX is around 1800. One of the bond insurers got downgraded and evidently Standard and Poors may soon follow suit soon.

Be Careful What You Ask For,,,,

What can I say but disgusting,ugly and very bearish action. We get 125 bp reduction in a week and this is the reaction. Not bullish action I can tell you that, and volatility is here for a long time. The shippers were strong and the financials rolled over. What is really amazing is the action in the financials-what a give back. I am waiting for the "Japan 0%" interest rate perma bears to come out of the woodwork if this keeps up. Later..

YAHOOOOOOOOOOOOO !!!

Yahoo,true to form,disappoints again. We also have UBS writing down about $14 billion in bad sub-prime. Wow. Foreign markets are a bit lower. All eyes on the Fed today,the market should have the bandages on hand if we only get 25bips.

One Short -Salesforce.com

Salesforce.com-CRM--I like this short BELOW $51.25 on volume of about 1.7m. Target $42 over the next 4-6 weeks.

The Casinos Look Interesting To Me Here

WYNN,LVS

Waiting on the Fed

December durable goods surged 5.2% and fed fund futures indicate a 76% chance of a 50 basis point cut tomorrow. Let's hope Ben steps up to the plate

Not A Bad Day

We went lower in the morning,rallied mid day retested in the afternoon and came on strong into the close. Not a bad day technically at all for the indices. The retest held the Fibonachi retracements on the Nazz and S&P. We do have an opportunity to extend the rally here, but we have all been to the alter before with this market. Overhead resistance to contend with is 1850-1860 on the NDX and 1365-70 on the S &P. Technicals on the New York were 25 to 7 positive-- on the Nazz it was less than 2 to 1. Up down vol. on the NY. was 7 to 1 positive and on the Nazz it was 7 to 3 positive-lighter vol. on both. Sales of new homes fell in Dec. fell 4.7 % and new home sales in in 2007 fell 26.4% compared to 2006. But we are not in a recession? LOL!!. Did anyone watch the housing segment/housing crash segment on 60 minutes last night? There are whole subdivisions of new homes turning into ghost towns that will take years to work off. Be careful of bear market rallies as they are fast and furious and they are fast,vicious and unforgiving on the downside. Back at it tomorrow.

The Bulls Showed Up

The NDX still didn't confirm the rally in the DOW and S@P but I will give it an A for effort.GNK traded like the drek I thought it would. Damm, I meant to put CREE on last night but had some technical issues and thats why the charts were coming out piecemeal. I posted about it a week ago so take a look. I think $34-38 is in the cards over the next couple of weeks. Nice chart,nice volume and a perpetual takeover candidate. Traded it today and will revisit tomorrow,it's do for a breather.The financials led the way, maybe in anticipation of a 50 BP cut fron Big Ben on Wednesday. Boy, did they take MELI to the woodchipper today

Futures Lower

Dow Jones futures -84
S&P- 11
Nazz-18
FTSE -150
DAX-111

We are catching some negative overflow this morning from world markets which are lower.I think we will get a tradeable bounce this week. I believe I mentioned the Fed meets Tuesday,it will meet on Wednesday. My apologies. We could catch a good bounce mid week as institutional month end window dressing comes in to play.

Raytheon RTN

RTN I would be looking at around $63.75 as an entry on volume in the 4mm share range. It topped out in late December around $65.94. It then found support at the $60 level.It's been building a base between 60 and 65 and now has the potential to move higher. Some resistance around $65-65.94 but above that could breakout from a 4 month base pattern. Target $69

GNK

A short covering bounce in my opinion and should yield lower prices in the days and weeks ahead

Charts-NDX

I don't trust this one and think it goes lower. I'd short under 1787

I Think We Go Lower

The Fed is back in play on Tuesday and I think anything they do will be anti-climatic anyway. I think Ben thinks he has a big fat egg on his face after Tuesdays "panic" cut. Even with lower rates the banks are afraid to lend to each other and until they start again, we are in a credit crunch even if rates go to 0 (Japan in the 90's).The "dinner and a movie" handout by Bush and Congress is a joke.If I'm having problems I'm paying my gas bill before I buy an i-pod. They say the difference between a politician and a statesman is the politician worries about the next election but the statesman worries about the next generation. We have way to many politicians pulling the strings.

The charts are sickly and I think AAPL will be seeing $120 soon. The shippers in my view are ready to be shorted on their recent bounces. I liked EXM the other day(long) over $32 and it was good for a trade but they look lower. I will be looking to short GNK on its recent bounce.I will be back later with some charts.

Cramer Should Pay Rogue Traders Legal Bills

Cramer and Wall Street got what they wanted, a big rate cut but little did the Street or the FED know that it was because of a major banks unwinding of a bad trade of biblical proportions by a rogue trader. This guy looks about fourteen years old by the way. Starting about yesterday, we started hearing about how the "rogue trader" lost billions with Frances second largest bank and how it was possible that the FED was hoodwinked into the rate cut because of the unwinding. Was the FED going to change their mind after the facts came out? This was the largest cut since 1990 and I still don't feel bullish. As a matter of total fact I feel really bearish and have a really quick trigger finger on anything I do in the market. This is a miserable tape in my opinion and I still feel we test the lows soon. I have been wrong before. Just don't "buy,buy,buy"on a 24/7 basis like someone will tell you to every night. Think on your own,think outside the box and don't ever follow conventional wisdom-it will save you a fortune in the long and short run.I think 1 to 1.50% daily moves in the market will become common place going forward and we need to be prepared and ready to adapt.I think the Fed feels idiotic at this point and so they should. Will they want to spite the street for the 3/4% cut this week because of the rogue traders position hitting the market and punish us with a 25 bip cut and not 50? Either way, I think the market is in for some tough love.Hope I'm wrong. Hope everybody had a profitable week and I will be around this weekend.

Friday Pullback

Well it rolled over like I thought it might. The finacials took a breather. Ag. stocks gave up all their gains after a strong opening and technology stocks never gained traction off the great MSFT numbers. Apple especially looks in need of a B-12 shot or something even stronger. It would not surprise me at all to see a test of this weeks lows sometime in the next week.I would welcome it actually as it would shake out the loose hands. In my opinion there is no sticky money in this market yet. It's all fast money and investors are still skeptical.

Futures Up

Running late today and meeting last night. We are looking higher this morning as MSFT had a nice number. Agriculture all gapping higher,AGU,MON,POT,MOS.What a group,whoever thought fertilizer could trade like tech back in the day. Today is Friday and I will be watching things closley. It would not surprise me at all to see a sell off later in the day as investors montize some nice profits. Good Luck

Choppy Day

Yeterday I could do it blindfolded-today, I couldn't hit the sidewalk if I fell out my window.Sometimes,at least it's true with me, the most challenging day can come on the heels of a great day.
RIMM ripped but missed it, AAPL was lousy and so was I. The agriculture stocks were strong but somehow I was a non believer. Today I tried to out think things and developed paralysis through analysis. Really no trend all day and it was tough,for me anyway.

Trading Fraud at Soc Gen?

Another shoe? Just tuning in by evidently there is a big loss at Societe' Generale, France's second largest bank. It has taken futures off their highs. I don't think this will linger for too long.$ 7.1 billion is a big number.

PLEASE,PLEASE WATCH THIS

As many of you know I find Cramer to be a self promoter and dangerous to people with ears. Watch the video link put together over at thelearningcurve.blogspot .com

Is It Over?

I don't think so, as much as I really want it to be. But we sure as hell are getting close. The financials rocked, I guess it took a day for the cuts to kick in. I had one of the best days in a while as I caught the shorts just right (mon,pcln,and short moo the ag. etf). I was lucky to catch AAPL about two points off the day low down about 20 something and just thought-"this is enough."
STOCKS I LIKE:

IMCL-good vol could run
EXM-over 32 area
DRYS-OVER 58 area
OMCL-posted before looks strong
EXPO-could go on volume

What a Day !!!!!

Today was the busiest and the best day I've had in a while. The moves were just amazing.I'm exhausted and the adreniline is still pumping,when i catch my breath I will be back with some thoughts

Groundhog Day

Now I know how Bill Murray felt.Don't lose your cool and watch,that's all you can do until we find some sanity.

Regeneron Pharm-REGN

REGN- I like this chart and I like the name especially in this kind of market. I think it can tag $28 in the next 2-3 weeks.

OMCL- I posted this chart over the weekend (see weekend post) and I was very impressed with the strength today. Still looks good to go.

Market Wrap

The market had a sharply lower start and a huge spike down,taking some of the technicals to levels we haven't seen since 2002. They did manage to rally off the lows after the Fed cut 75 basis points. With about twenty minutes to go they were near the highs for the day and close to flat for the day. But they couldn't hold on and rolled over. Oddly, the Philly Semi Index (SOXX) was up 3% and if not for its move, the NAZZ would have been in worse shape. Is that a sign the semis are done going down and will be a group that leads us up? We will see for sure in the days and weeks ahead. Tomorrow if we can take out resistance NDX 1830 and 1330 on the S&P it will be helpful.

Apple Computer

They disappoint-stock down 20 in aftermarket

I'll give myself an attaboy

I called the cut of 75 bips on my post last night,that never happens. Wish I could have turned it into more green today,but doing ok. It was a gas to see Rick Santelli from the pits in Chicago this morning putting Cramer in his place. Man,did he call him out.

Goldman comment

GS is out saying they expect an additional 50 bp cut by Fed next week. I might have beer goggles on but the financials are starting to look good--for a trade

If your thinking long at any point

UYM-ultra long basic materials
UGE- ultra lomg consumer goods
UYG- ultra long financials
RXL- ultra long health care
ROM- ultra long technology

QLD- ulta long nazz
DDM-ultra long Dow
SSO-ultra lonf S and P

Giving it all back

That's why you have to be so careful. Wow. That was a fast kneejerk bounce and then a turn lower. We will see how this reacts through out the day. Treasuries are rallying which is always bearish for stocks. Let's see if our "friends" around the world can step up and cut rates today too.. Getting closer,getting closer................

FED CUTS 75 BASIS POINT

FUTURES RALLYING

Bank of America

Profit down 95%. Can it get any worse? I'm rooting for a major flush today. This slow bloodletting is getting old. Will Ben cut 75 bp's today or hide out in the ivory tower? Good luck all.

Market Update

Even the most cock eyed optimist would be running for the liquor cabinet if he or she is watching Bloomberg right now.

NIKKEI-( -4.5%)
DOW-- (- 4.5%)
HANG SENG (4.9%)
S&P ( -4.6%)
NAZZ (4.3%)

Uncle Ben needs to leave the mahogany grill room at the Princeton club and cut 75 BASIS POINT TODAY!!! What the hell go 100 basis points.

Stock Market Meltdown

Stocks are tumbling from Hong Kong to Europe and U.S. futures are showing their deepest drop since 9-11 on rising speculation we are now in the midst of a worldwide slowdown and that company defaults will rise. Oil is down almost 11% from Jan 3 high as it recognizes the impact of a global slowdown. Copper and gold are also lower. Canada and Latin America are also plunging. The market is priced for 72% odds of a 75 basis -point cut by the Fed at the January 30 FOMC meeting and the market is priced for 100% odds of a 100 basis-points in cumulative cuts by March. For April, its priced for a 100% chance of 125 basis-points in cuts. For the end of 2008 the market is pricing in a a fed funds rate of 2.375%.
Is this the capitulation that we have been looking for? Not so fast as a 500 point downside open could easily accelerate to a 1000 point decline. I will be walking in to the wood chipper in the morning flat with no open positions and will be looking for a bounty of opportunities on a day trading basis. With this volatility and potential short term panic on the horizon I just don't trust the market yet to babysit my money over night. The best chart patterns of late have been the ones of the ultra short etf variety. That has to tell me something. The market never sends out invitations to "the bottom" so no one alive knows when it will show up. With that thought in mind don't try to pick one. My father used to say "if it doesn't feel right-don't do it." That is the message I will take into the open tomorrow. Try not to be a hero,trust your gut, and if you do decide to play tomorrow-honor your stops.

Brace Yourselves

Dow futures are down about 450 pts,S & P down about 60 pts, Nazz down about 75 pts.

CONGRATS PATS

If I have to choose Packers or Giants to beat Brady and the Pats, I gotta go with Brett. Peyton will always be Google and Eli will always be Yahoo. Just the way it is.

I Forgot...........

GO PACKERS!!!!!!!!!!!!!!!!!!!!!

OMCL

OMCL rose on almost double its recent average daily volume on Friday. It has had a solid run in 2007 that took it above $30 in October, before a pullback that bottomed it just below $24 in Nov. 07. It bounced this week in a miserable market at its 50 dma at $26.18 Look for some resistance at $30 but if it can break above that level and knock out its 52 week and all time high of $31.12 it should see a nice breakout.

Cramer Loses 50k Bet to Eric Bolling

Cramer will donate the money to Bolling's charity. If anyone remembers, Cramer(who in my opinion has killed more people than the great plague)said that the financials would be the best performing sector for 2007. Bolling said it would be oil and gold. And this guy gives out 30 stocks a night to buy. Dangerous.

A Chicken In Every Pot

The market treated Bush's plan as the non event that it really is. This is the most advertised and talked about "bottom" in history, buy I do believe we should see a good bounce Tuesday or Wednesday. If we are lucky enough to get a lower open I am going to establish half positions. I had great success with NIHD short on Friday and it was a decent day overall. INCY is basing and looks higher. I will be back with some charts shortly.

Lunchtime update

I mentioned yesterday that I thought the dry shippers were done doing down as they exhibited great relative strength. Today DRYS,EXM and even my favorite short GNK are trading much higher. The lesson learned here is that so many names are ridiculously oversold and when we do get a bounce that sticks, it should be vicious to the upside. SIGM is up about 5 and SKF which is the ultra short for real estate was up about 11 pts. at one point and i caught it for a few.I have no faith that we can hold gains into the close so I will be light on my feet.

Be Careful Today

It's option expiration day and at least the first few hours will be interesting. Futures are much higher but be wary of a fade later today. It's possible they stay strong all day. I will be looking for quarters and halfs today as the punch bowl can be taken away at any time. If they take it to the woodshed later, I don't want to be around. Everything is oversold and i will be looking at some solar names for trades,probably SOLF and CSIQ.

Working on the blog

It may be up and down,if it starts looking freaky its just me. Will be up soon

Groundhog Day

Does Bernanke shoot novacain? When does this guy start to sound like he knows what he is doing? I'm starting to think the only thing that helps is an inter-meeting cut-- but for .75 bp's NOT .50bp's. The market sucked again. The shippers actually look like they are tired of going down, The solars tried early but rolled over. INCY looks real good here on a crappy day,SJT never hit my trigger,CREE did not continue and FLIR is still fine. Maybe we won't get a run until Monday after options expiration, but tomorrow should be interesting.

Got Yield? SJT

SJT- I meant to throw this one on yesterday but forgot. Looks very strong. If it can get throught the $38 zone I think it pops. Also yields about 6.5%

INCY,CREE,FLIR

I mentioned INCY about a week back and thought that 11.50-.75 was a key area. Today the stock traded great volume and went to $11.97 before it backed off. Should make new highs soon







CREE was one of the best percentage gainers today. If this turns out to be a continuation play it could pop to $29-29.20 quickly. It then measures to $33-34. Perennial takeover name.









FLIR-Good chart. Could manage $34 in the next few weeks. I'm a volume freak and this fits the bill

Uninspiring close

Only the SOX managed to close on the plus side. I did alot of volume today because trading AAPL kept me really busy. Stock was all over the place. It went out near the low for the day after trying to recapture its mojo. Not a good sign at all. The shippers caught some bids,mostly short covering. Solars got punished as well. Back later.

Lunchtime Update

From top tp bottom the NDX fell 292 points since 12/26 or 14% in 2 1/2 weeks. The S&P fell 125 points or 8%. It is very possible that we have seen an important low in here. I own MOO (the ag etf) on the big move down and RIGL which has been acting very well in this downturn and appears to be poised for higher prices.

Lower Open

Everything is red on my screen as we embark on yet another lower open. Until the market gets back its mojo back I will be careful. Playing a bit smaller with even tighter stops. A few stocks that look good on the shortside:

SINA- under the $40 level
SPLS-UNDER $19.79
SOHU-under 47

Tough Day

I've looked at over 50 charts tonight but it means nothing until I figure out direction,so no chart tonight. I will say though, after being short DRYS for two weeks(day trades mostly/some overnight) I felt that today, as ugly as it got, it looked liked the selling was getting exhausted in the name. It was lower in after market but this will be one of the first names i will look to re-enter long when we turn. I will be posting my best bounce candidates soon. Either the world is coming to an end or I have to start buying and buying big. I love doing this for a living.

No Prisoners

I traded DRYS and GNK short with success but gave it back trying to buy some levels that I thought had good support. It was tough today,real tough. Intel came up short after the close and the stock is trading now down about 16% for the day. AAPL is lower as well in aftermarket trading. FEED rolled over with everything else and some technical damage has been done to some really good set ups I've been watching. The good news? We get to do it again tomorrow.

AAPL Not this time

Apple and the boy genius aren't saving the market or their own stock price this afternoon. At least not yet. AAPL off about 9.5 pts right now. FEED- opened well at about $11.15 and went strait to $11.70 in a crappy open, but decided to give back gains. I still like it very much but we could use a better market. I will be watching it closely this afternoon

FEED-update

I'm starting to get that feeling again, it looks good in a weak market in here

Futures Down

Market doesn't like ESM and PPI numbers reported this morning. Macworld kicks off today so I will be watching AAPL for a possible opportunity long or short. Volatility is here to stay so keep tight stops. Back in a bit.

Stock for Tuesday-- FEED

I like this chart very much. It closed today at $11.39 on 1.2 million shares. I think 14-16 is doable very short term. Support at $10.65.In the agricultral group which is on fire.

Closing Comment

The bulls came out their cave today. Was it just an oversold bounce? I'm leaning that way but we shall see.
COIN- what can I say, a 40% winner today
SEED- didn't have the stones to follow through and rolled over like my dog
UEPS- nice day and traded nice volume

be back later,hope you had a decent day

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

UEPS-Also Moving Strong

see the weekend chart

Are you a Coal bug? KOL

I believe the first coal ETF started trading today, Market Vectors Coal. The ticker is KOL

COIN explodes

I took the trade on COIN and all I can say is WOW!!!!!!!
I am long SEED and feel it is shaking off its recent move. As I pointed out in a recent post, the dry shippers look like dreck.

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

DRYS ,EXM,GNK - More Downside Ahead?

These are the names I have been playing from the short side with great success of late. On Thursday the Baltic Dry Shipping Index, a key indicator of shipping rates, fell its most for a single day since 1989. It fell 4.6% or 384 points. The index has now fallen 28% since it peaked in November. This not only indicates the weakness in our economy but could be telegraphing strong weakness globally. It also flags the possibility of a downturn in commodity prices. I don't know if this is a baked in statistic or not and these stocks do seem oversold, but stocks can stay oversold for longer periods. GNK and EXM rallied Friday but closed near there lows for the day. DRYS was on its way to the lows, so I'll be watching this group again this week.

Stock Market and What If ?

I've been wrong before but this is what I think has a decent chance of shaping up. They say you can't have a bull market without tech and financials. We did fine without the financials this year before the market decided to cave. Technology has certainly corrected, just look at AAPL RIMM, etc. But what if the fed cuts 50bp's, sure some say it's a given and some say it's too late anyway, but what if technology starts to come back?(Macworld Tuesday) I think the combination of the financials bottoming,tech rebounding, and a 50 bp cut could cure this hangover. It will take nothing more than a blink to get the shorts running scared. Many times towards the end of last week i saw massive knee jerk pops in stocks because the market hinted at a rally. I think fear is a much more powerful emotion than greed and when this turns we could see a short squeeze the likes of which we haven't seen in quite a while.
Just sayin

UEPS Net1 Ueps Tech

This stock had a good run after trading down below $22 in early August and went as high as $33.82 in November. UEPS has support around 28 It has been building near term base that has left it right below the 30 level. If UEPS can move back above its 50- day moving average at $30.54 it could easily find its way back toward the 52 week high of $33.82 and higher.

click chart to enlarge

Closing Comment

The indices had a bad day to end a volatile week. They started with a gap down and went lower all morning. They did try a mid -morning bounce but when the NDX failed to confirm they rolled over and went lower for most of the session. They tried a snapback in the last half hour after the NDX successfully tested 1900 twice and the S&P 1395, but a late 5 minute pullback took them off their highs. Any movement below Wednesday's lows could pose some big problems. Ideally we can base for a bit. I am taking a look at the financials and may be a buyer soon. The group acted ok on Friday. When I do step in I will do it via the ProShares ultra long etf. The symbol is UYG.

SEED-

SEED was my chart for the day as it broke through the $9.5 resistance and closed the day $10.91 on huge volume. When it backed of to the 9.8 level i frankly didn't think it could muster up the momentum but it sure did with a vicious rally in the last half hour. Hard to get uglier than today. It was just disgusting and felt almost 1987 like.

SEED

broke through $9.5-9.8 resistance

shippers catching a squeeze

DRYS,EXM,GNK are much higher

CFC-Takeunder

Well, it saved me the trouble. Dow, Nazz, S&P all lower by a good margin
JP Morgan looking at Wamu assets,could get some play, but what are these broken companies worth anyway?
Lokking at DRYS and GNK for a good short entry with tight stop

random thought

sitting next to my beautiful 12 year old daughter and i ask? can she complete a sentence with out saying " LIKE" about 87 times?

see you guys tomorrow

CFC-Call me crazy but......

I have been so hating all these pieces of crap for quite a while, but if you want think outside the box and in a purely speculative fashion, I actually think this piece o' crap could go higher.
HERES WHY

BAC gets announced as having interest, and the stock goes from $5.5 to 8.90 in 10 MINUTES!!! It then does a "perfect" .382 fib retracement. The stock trades 233 million shares on the upside. I'm sure it's higher in after market but based on technicals this dog has 9-10 bucks written all over it.
According to sources, talks are ongoing and a deal could be announced at anytime, or fall apart at anytime. I will play this one small because anything can happen.

Life is good

Don't worry I will share the bad ones, but I have to tell you DRYS and GNK do not fail to impress me on the short side. I caught them again today as they just traded like crap. The squeeze helped them both when the CFC rumor came out. I literally turned around to look in my file cabinet and GNK wiped out a $700 short gain in a nanosecond. I don't think I ever saw anything like that.Just goes to show how shorted these names are. On strength I will revisit both names,and I have no problem at all playing them long in here if the market shows strength. It's been a good week overall and I would rather be long than short. Not only am I a better trader long but I like to feel we are doing well as a country. I am choking from the negativity out there and it makes think we can put on some real longs for some serious short term profits.I caught CFC too,thanks to tradethenews.com (one of my services)I never trade news, but I knew this was so shorted that if someone farted it would explode. BancAmerica is more than a fart. Caught MBI as a sympathy play as well for a little bit.
I mentioned INCY a couple of days ago and will be an aggressive buyer over $11.50-70 on good volume.

GRMN- over $80
SEED- over $ 9.80 i think china rocks soon
CHNR- been watching like a hawk,has been coming down orderly on low volume-could explode big time-may start nibbling tomorow.

If anybody has any comments on my rambling on, just shoot me a comment. Good luck tomorrow. It promises to be fun

Looks like BAC to buy CFC

What a squueeeeeeze!!!!!!!!

DRYS-the gift that keeps on giving if your short

I'm out of the short but pre open it is down about 4pts.. Will be looking to short GNK if it doesn't gap down too much
Other thoughts-COF warns 2007 eps will fall short due to increased delinquencies and FRE rumor that credit rating will be cut. Just another day at the office. Good luck out there-use tight stops and don't fall in love with a symbol.

Got Lucky

I shorted DRYS and GNK for about five points in total. I covered near the lows. That never happens to me. But I will take it all day long. They are so washed out I will stay away from these names on the short side until they can rally a bit. Some names that look good here:

MRK- I'd buy around 67.75
CREE- I'd buy around 27.5-28
BEC-73.5-74
GILD- right here

Good luck tomorrow and use tight stops-this whole shindig can turn on a dime-either way!

DRYS CHART

DRYS looked cooked until the rally came. Working on chart uploads so bear with me. Will be back in a little bit.

RIMM

breaks 4 month key support and neckline of massive top formation

RIMM

looks like it wants to break lower

Bears in Control

Could get a reflex rally but I'm inclined to short into any strength. Goldman out bearish on growth this morning. Alcoa (aa) will start eps season after close today. Boy, what a miserable chart that is.

Keep tight stops today. Any bounce I think will be short lived.

Watching- INCY,SLT

INCY-Incyte Corp--one to watch

stock blew out of a six year basing pattern today on the highest volume in a few years. I will watch this in the morning and will buy on any dip-i should have mentioned the drys,gnk were day trades and were covered by the close.

When Does It End?

Well I shorted DRYS at the $70 number yesterday and it worked out, when it rallied up over $70 today, I shorted it again and it worked out fine. I also shorted GNK- another shipper as their charts look like rollovers. SIGM worked for the trade I was looking for. We are so oversold that we should bounce hard-maybe tomorrow.

SIGM

I'll be watching SIGM for nothing more than a good bounce at some point here. $72 to $45 in a month is bit of overkill I think. Chart has damage but could be a decent short term trade

SLT,TECH

in a late meeting, but check out these beauties -will get charts posted soon--i think we rally tomorrow. I recommend stockcharts.com for the visuals.

SLT
TECH

Solars get smacked-DRYS breaks down

just plain ugggggly!!

Futures slighlty higher

Good morning folks. We are looking at a slightly higher open and probably a very volatile week. The DJIA had the worst start since 1932 and NAZZ since 2003. Strap in here-should be interesting to see if the bulls or bears take the hill

AKNS-beautiful relative strength--continuation through 15.5-16 gets the low 20's
SOLF-if it take out 40 watch out above
QSC-still like the action
PBR-couldn't take out resistance (120 zone) and will likely now base between reistance and the 50dma
DRYS- support at 70, if it cracks watch out below

be back in a bit!!

There are no triple bottoms?

We shall soon see as that is what is seriously developing on SPX and DJI. We will find out if they hold em or fold em. However, be ready for what could be setting up for a vicious upside rally. I would love to open down on Monday with a thrust. It will make it easier to play it long. I hate when they gap em up. Are we in a recession? Didn't the brilliant talking heads call "six" of the last "two " recessions? Looks like we may be there this time. The textbook definition says two strait quarters of negative GDP growth puts you in the big R. There is so muck freaking liquidity on this planet-it's got to go somewhere-I say the market is gonna be fine.

QSC- I still love the chart and it looked like it was on its way on Friday until Mr. Market took the punch bowl away.
RIMM- good support at $97 level,lets see if it holds
AAPL- ya gotta love it here-mac world around the corner

QSC is breaking out!!!!!!

solar and ag stocks and QSC

I think the solars go higher but need a breather. When you see what I call the "junior solar" plays get red hot after the big solars go parabolic it may be time to take a breather. Today they opened very strong, SOLF, for example, opened gangbusters,traded sideways for a good part of the day and then filled the opening gap entirely before it staged a late 3:30pm rally. Some "smart money" thinks that mid-January they may come down like a house of cards. I don't think that far in advance as most of my trades are closed by 4pm. I may miss an occasional FSLR up 50pts. in aftermarket, but I also miss the BIIB's down 25 pts in the aftermarket. It just helps my sleep pattern. I am still bullish on the group but am being more cautious.
If any one thinks the agricultural stocks are perhaps a bit long in the tooth a good way to play shortside is Market Vectors Agribusiness ETF on the short side. The symbol is MOO. I love the group and am a huge believer in buying strength and selling (shorting) weakness. I think it is a strong group just a tad toppy.
QSC- i mentioned it in Tuesdays post. I thought if the stock could get through $6-6.25 with authority, (volume)- it could run to $8-8.50. It looks like it is under some serious accumulation as the stock traded to $6.24 on very good volume today. I still want to see breakout type volume around 1.5 million shares. Keep it on the radar.

Great Trading

How's That ???!!!!

Nice welcome to 2008 from Mr. Market. For Thursday I'm closely watching:
PBR- is a better swing trade than a day trade, watch for heavy volume breakout in the $ 119.2-120 zone
BLUD- over $35
SOLF- will probably continue higher here-if it breaks through 37.85 it could go parabolic

have a great day

Stocks for Wednesday

DGIT- consolidating after mid Dec. breakout-could make new highs soon, Thinky Equity top pick for 2008
QSC- if this can get through $6-6.25 with volume I think we go to $8-8.5

Solars look very strong pre open with AKNSsigning distribution deal with STP.