Don’t Rain On My Parade

Pardon my absenteeism today, but I had beads to catch and beer to drink. Too bad the weather did not cooperate, nothing says Mardi Gras like a bunch of sloppy drunks covered in slop. Noetheless, it was still great to take a step back from this market and spend time with family and friends. Now back to work…

So let’s take a look at the Woodshedder/Gint matchup. I see Mr. Woddshedder took the lead in the second quarter after a dive in Gint’s offense ($SLW). And, GTO still has the lead with his underdog squad $LIZ. Nothing pains me worse than to be knocked out in the first round.

Now on to the market. The bulls made an impressive move off the lows early on as “BTFD” was in full effect. I ended up selling out of a few position a little too early in order to enjoy the festivities as I clearly lost sight of POMO #NotWinning.

My stocks scans are a bit better tonight and I’m starting to see a few setups emerge. I will start where I always do, “the small bombs screen.” A bunch of these names look good and I consistently find many trade ideas from this screen and screens alike. PPT members can click here to save screen. Here are tonight’s results:

Here are a few individual names I like:

$RBCN:

$SNDA:

$CTSH:

$BAC:

$PUDA:

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There’s not much to say after the day we had today. Many of the stocks I had on my radar going into the week now look a little sick. Setups are far and few between, and if your not playing with oil & gas or silver, then you’re probably not having that much fun.

Fat Tuesday is upon us and I’m looking to enjoy myself a bit tomorrow. There nothing like pounding a few back and watching a bunch of drunk women show their tits for beads. I kid, I kid.

As for the start of the 3rd round in our March Madness tournament, Jake looks to have an early lead on Mr. Woodshedder. Botepan had an impressive start with his short pick in BKS. And, GTO has the lead heading into the second quarter. You can click here for a bracket update to find out who will win the $1000 prize.

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The Russell 2000 has been my go-to index when looking for clues on future market direction. As of now, the 800 level & 50 day moving average are still holding. When the 800 level fails there will be room for concern.

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One lucky person will win $1000 dollars of The Fly’s money, and that one lucky person is one week closer to victory and 2011 bragging rights. Here are the updated brackets, click here.

I will be looking forward to the upcoming Jake vs. Woodshedder matchup this week. Both players have had fantastic runs throughout the tournament, and I wouldn’t mind seeing a friendly iBC bet going into this week. Gentlemen?

Other games of the week include: PoPimp’s (ATPG) vs. Chivo’s (WYNN)  & GTO’s (LIZ) vs. Cjack’s (MOS)

Be sure to tune in next week, just click the March madness logo on the right sidebar for updated scoreboards.

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I’m seeing much better looking long setups after tonight’s scans. Of course we have the all important job number to deal with first, but if we see strength in the market, here are a few to look to:

$EMC:

$PBR:

$SCNR:

$GILD:

$HDY:

$RTN:

Note: ChessNwine has some really good setups posted in 12631: Post 1, Post 2

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With small oil and gas stocks ripping to the upside, here’s one that may catch momentum here:

$GFRE, this company provides products to oil and gas exploration companies. Watch for a breakout:

$IVAN, another energy play that spells BTFO:

$VLNC, check out this lithium ion battery play. Watch for volume here:

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