Potential Breakouts

The following watchlist will only apply if the bull continues it’s run this week. Otherwise, pick out your favorite inverse ETF ie. SRS.

Also watch for a false breakouts in the market, but then again you would know that if you subscribe to Danny’s newsletter.

Potential breakouts:

SPX: Watch 870 & 877

1. AGU: Buy on any strength in Agriculture
2. AMGN, Buy on triangle break
3. CLNE, Buy on strength above $7
4. EGO, Looks good above $8
5. GERN, Above 8.50 = BTFO
6. GIGM, long with stop below $7
7. NVDA, long with a stop below $9.45
8. SLW, Above $7 is fantastic
9. STLD, buy on any strength in steel
10. TASR, good above $5.75

Monday:

• Barclays PLC BCS
• Beazer Homes USA Inc. BZH
• Compass Minerals CMP
• Energy Conversion Devices ENER
• NYSE Euronext NYX
• Randgold Resources Limited GOLD
• SOHU.com SOHU
• Vulcan Materials VMC

Tuesday:

• Applied Materials AMAT
• Hercules Offshore HERO
• Patriot Coal Corporation PCX
• Terra Industries TRA
• Terra Nitrogen TNH
• UBS UBS
• VF Corporation VFC
• Yingli Green Energy Holding Company Limited YGE

Wednesday:

• Buffalo Wild Wings, Inc. BWLD
• Chipotle Mexican Grill, Inc. CMG
• Core Laboratories CLB
• Genzyme Corporation GENZ
• Ingersoll-Rand Co. Ltd. IR
• Terex Corporation TEX

Thursday:

• Aetna Inc. AET
• Cabot Oil & Gas Corporation COG
• California Pizza Kitchen CPKI
• Cephalon, Inc. CEPH
• EnCana Corporation ECA
• Hansen Medical, Inc. HNSN
• Lufkin Industries LUFK
• Olympic Steel ZEUS
• Panera Bread PNRA
• The Cheesecake Factory CAKE
• The Coca-Cola Company KO
• ValueClick, Inc. VCLK
• Waste Management WMI

Friday:

• Abercrombie & Fitch Co. ANF
• PepsiCo PEP

And, it actually feels like we may move higher from here.

I made a few moves this morning as 850 was taken out with no problem. I bought CME & I also added to my alternative energy basket and bought some CLNE (looks great here). ENER reports on Monday, so watch for the sector to move next week (still long ENER) . My only regret for the week is that I sold FAS around 8 and change, damn it’s on fire today.

I will try to do a top ten review video later today, been a busy week.

Note: Bringing my longs with me through the weekend.

CLNE 6mo chart:

What’s up guys, it’s been a busy day and I’m just getting to today’s action. After looking at a few things, I can guarantee you, I would’ve lost money today. The market continues to do the unexpected, chopping up both bull and bear traders.

Looking at the last 20 days, the S&P is actually displaying a bullish chart, with higher lows continuing to form since O’s inauguration day. It’s was also impressive to see the market rally from today’s lows, with BAC trading sub $4.

I think tomorrow will bring a true test on whether we can rally from this level. A move above 850 would be a bullish breakout, it’s been tested several times in the last two weeks.

I have another busy day tomorrow so check for updates in the evening. As it stands, I still hold: GOOG, a few solars, and DXO. Watch 850 tomorrow.

With the DOW closing below 8,000 for the second time this week, I decided to take off a few more longs at the close. I still own GOOG & my baby solars, but that’s it.

Right now the transports are barely holding on, and I will continue to watch for a breakdown around 2,900. (XLF) Financials also appear to be breaking down and could get ugly any second– which lead me to take my loss on FAS at the close.

Things do not look good for tomorrow, I would not be surprised to see a sub 300 day. In my watchlist video I outline a bunch of bearish setups, watch for those to play out well the rest of the week.

From the video:

• SRS, looks good here with continued strength through 61.50.
• USO, CVX, APOL, AEO, ADM all appear to be great shorts on further weakness.
• Watch gold here, I like it above 910– think “EGO” if gold breakouts here.

Tomorrow will be interesting, stay tunned.

There are two things keeping me from going all out on the long side,  BAC and COF. These two continue to trade lower while the market moves higher, and I will continue to monitor them on a constant basis.

As for today, I’m seeing breakouts everywhere: BIDU, GOOG, & AAPL, just to name a few- (watch RIMM above $57).

As you know I went 100% long yesterday, but was a little timid, and sold off my TNA, mainly because I did not want to be “That Guy,” you know, the one Fly was writing about the other day. Nonetheless, my buys from yesterday: AAPL, ENER, & FAS all look good today, so all is well in my hood.