The Tone Is Bullish

With earnings right around the corner I expect the market to trade flat within the next few days. The tone of the market has changed from the end of the world, to “maybe we could rally here.” I, for one, would rather be long than short here and will continue to pick my spot in stocks.

Today, I’ve accumulated a nice postion in $STEC and am looking for a move above $14. I’ve been in and out of $MRGE for some quick coin, and also bought a starter position in $JMBA.

My solar plays worked out well since Obama gave the industry another 2 Bil. I sold $TSL, sold my options in $WFR, & still hold $STP. $LDK looks good here and received a big contract today, another one to watch.

Top pick remains $STEC

The PPT is indicating that we still have further upside even after Wednesday’s big move.  After doing a few scans, here is the top of my watchlist: BVF, BWEN, CEVA, CPE, DPS, DVAX, ENTR, GEOY, GMCR, GME, IDIX, MRGE, STAA, STEC, & VISN

Get ready for some more upside. Top pick here is $STEC, which also made Danny’s list and is ranked number 6 on The PPT. I like it above $13.50:

OWW,

So 1040 is breached and that level now becomes support. All I can say is thank God! But, all is not clear yet. However, the hybrid score of 3.0 is clear as day for me and at that point I will be tossing out SSO, but we’re not there yet.

I am currently heavy in solar at the moment and also took a position in $SHLD just a few minutes ago @ $60 and change. This now become a stock pickers market, so get you charts out and get to work. If you have any ideas feel free to share them in the comment section.

Next stop hybrid 3.0.

This is our current trading range: 1040 – 1010. Below 1010, then it’s down to 990.

10 Day Chart:

When you have The PPT. Just go ask all the guys long $TNA, for myself I own a boatload of SSO and will take some off soon, but not today.

Alternative energy is also ripping thanks to the 2 billion Obmama is giving away to supoort the industry. I am currently long $STP, $TSL as of today (bought @ 19.88), and I own a wind energy play $BWEN, which I highlighted a few posts ago–ripping.

The only thing that concerns me is the $FXY is also higher today, but all in all, I think we close strong today. See you guys in a bit, more scanning to do.

Where will the S&P 500 close on Friday, July 9th?

Place your answer in the comment section. The winner will win a limited edition iBC shirt. And, remember, you can always order one yourself at indeud.com.