Stay Home Tomorrow

[youtube:http://www.youtube.com/watch?v=nZMwKPmsbWE 550 380]

Hat tip Marc_David

Futures are now below the flash crash lows, jog on.

I sold my last portion of TZA this morning @ 7.48, and bought some more GOOG @ 478.95. I bought more FAS on Friday, but so far have not been impressed with the action in the financials. I also bought a spec stock, SQNM on a notable call— (chart looks good watch for this one to get moving).

I few other of my positions that I have added to lately are:

• CCME
• YHOO
• ETFC
• UCO (New Position)

As far a market sentiment, I am bullish to neutral here, I have no desire to short stocks here as I think we have reached a short term bottom. However, I do not think we go up in a straight line, get ready for some choppy weather.

Monday:

• Guess?, Inc. [[GES]]
• [[IGLD]]
• Yingli Green Energy Hold. Co. Ltd. (ADR) [[YGE]]

Tuesday:

• AutoZone, Inc. [[AZO]]
• Medtronic, Inc. [[mdt]]
• Sociedad Quimica y Minera (ADR) [[sqm]]
• TiVo Inc. [[tivo]]
• Trina Solar Limited (ADR) [[tsl]]

Wednesday:

• American Eagle Outfitters [[aeo]]
• Diana Shipping Inc. [[dsx]]
• [[hoku]]
• [[jmba]]
• NetApp Inc. [[ntap]]
• Sigma Designs, Inc. [[sigm]]
• Solarfun Power Holdings Co., Ltd. (ADR) [[solf]]
• Toll Brothers, Inc. [[tol]]

Thursday:

• Big Lots, Inc. [[big]]
• [[bsci]]
• J. Crew Group, Inc. [[jcg]]
• OmniVision Technologies, Inc. [[ovti]]

I bought the dip like I suggested in my previous post. You can always find my trades listed in The PPT.

Bought:

• YHOO @ 15.20
• UCO @ 8.67
• ETFC @ 1.43

Also sold more TZA @ 8.14, and covered RIMM short @ 59.25. A lot of smart guys buying in The PPT.

The PPT Hybrid score, formulated by Le Fly, has been pretty damn accurate at calling tops and bottoms. Now I know we are experiencing unusual trading conditions, but I thought this was worth a note.

Take a look at the chart below. The blue lines are used to highlight big down days coupled with an oversold score (2.20). If you take a look at the following day, on each occasion, we tend to open lower. Greet this new low with open arms as this is your buy point, and ride this puppy until we see overbought conditions near 3.0. Futures are down 8 points as I type, I will be buying blood tomorrow.

The Euro is bouncing nicely from the 1.23 level. –Just hit 1.25, make sure to keep an eye on it.

With The PPT hybrid score signaling oversold, I’m tempted to buy the dip for a trade, but will sit on my hands for now. Make sure to visit the other side of iBC, The PPT, for real time notes from professional traders.