The VXX Halloween costume is on it’s way , and Scott Bleier wins the first one for proudly wearing his R.W. Pelican shirt on his morning show. For you guys yet to check out his morning show, it is a must watch, and has become my favorite hour of the day.
Win you own VXX shirt, details coming soon…
Top charts on my radar heading into Thursday: $MMR & $GRO.
Comments »RISK.
Watch the shit float and the Chinese Burritos run, and I mean RUN. My strategy going forward, provided we see continued strength in the market, is to focus on shitty companies with great looking charts. As stupid as this strategy sounds, we are seeing signs of this very thing happening right now. Just take a look at $SIRI, $PEIX, $BIOF, $CVM, ect. Be quick with your trades, in and out catching the breakout. I have no intentions in holding the below names longer than 3 days.
Here is one of my favorite screens for Chinese Lotto: (PPT MEMBERS click here and save screen)
Lotto Under $5: (PPT MEMBERS click here and save screen)
I am again selling down positions here, and have yet to add any new positions. I want to get liquid and build a heavy cash position, so I can see the market objectively and be ready for the next move.
My largest holding is still $GOOG, and I still hold positions in $PWER, $ETFC, $VZ, $YGE, $ATPG, $RIG, $TZA, $FAZ and a few others, my cash position is near 50% and I will likely be selling more into the bell.
If I had to give you a top pick here it would be $VXX, volatility is cheap.
Comments »Funny how many people think the move is done. What are you going to do when $GS and the rest of the gang breakout?
We could pullback 50 S&P points and still have a healthy market. All day long I saw people step in to buy inverse leveraged ETFs in the face of a beautiful breakout, people are still too negative.
I will admit this move is unsustainable, but it is not over, yet.
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Kill the shorts! PPT Members click here to save screen:
Kill The Shorts, sorted by average volume:
