The Bear is Coming

I am seeing a bunch of similar chart setups which leads me to believe we are eventually headed lower. The PPT hybrid score is approaching 3.0 again which also leads me to believe the bear is on its way.

Sirona Dental Systems, Inc. [[SIRO]] is a good example of what I am seeing throughout the market.

Notice the slice through the 50 day from Thursday, then consolidation the past few days right under the 50, setting up a nice bear flag. On further weakness, charts like this will fall into murderholes.

One trader said it best over the weekend (can’t remember who said it): Bull market are forgiving, Bear markets are not.

Trade accordingly.

It’s 3:15 and I have yet to put in any buy orders. I flipped my [[SPY]] calls at the open for nearly 100% gain, and since then have been sitting on my hands . 1,150 seems to be the level everyone is watching, so you might as well keep an eye on that level. (Bull & Bear line in the sand)

As far as chart setups, we will need a few days/weeks for patterns to develop. I will be leaving for a short get away, on Wednesday, to play in the oil slick in Florida, hopefully I can get there before the oil does.

I wish I had more for you, but times like this it is best to sit and wait for the setup to come to you, or else churn your account.

The futures are up over triple digits on the backs of the iBC election. My [[SPY]] weekend gamble pays off:

Off to watch Iron Man 2.

Monday:

• Advanced Battery Technologies, Inc. [[ABAT]]
• AgFeed Industries, Inc. [[FEED]]
• Ambac Financial Group, Inc. [[ABK]]
• BIDZ.com, Inc. [[BIDZ]]
• [[BIOF]]
• [[BPZ]]
• China Precision Steel, Inc. [[CPSL]]
• [[CDE]]
• [[CHCI]]
• Dynegy Inc. [[DYN]]
• Energy Conversion Devices, Inc. [[ENER]]
• [[GFRE]]
• InterOil Corporation (USA) [[IOC]]
• Ivanhoe Mines Ltd. (USA) [[IVN]]
• [[JACK]]
• Legg Mason, Inc. [[LM]]
• [[PAAS]]
• priceline.com Incorporated [[PCLN]]
• ReneSola Ltd. (ADR) [[SOL]]
• VAALCO Energy, Inc. [[EGY]]
• VisionChina Media Inc [[VISN]]
• Wal-Mart Stores, Inc. [[WMT]]
• Zoltek Companies, Inc. [[ZOLT]]

Tuesday:

• Delta Petroleum Corp. [[DPTR]]
• Electronic Arts Inc. [[ERTS]]
• Fannie Mae [[FNM]]
• Flotek Industries, Inc. [[FTK]]
• GeoResources, Inc. [[GEOI]]
• Harvest Natural Resources, Inc. [[HNR]]
• JA Solar Holdings Co., Ltd. (ADR) [[JASO]]
• Origin Agritech Ltd. [[SEED]]
• Rosetta Resources Inc. [[ROSE]]
• [[SPWRA]]
• Titanium Metals Corporation [[TIE]]
• The Walt Disney Company [[DIS]]

Wednesday:

• Canadian Solar Inc. [[CSIQ]]
• Cisco Systems, Inc. [[CSCO]]
• DryShips Inc. [[DRYS]]
• [[M]]
• Silver Wheaton Corp. (USA) [[SLW]]
• Whole Foods Market, Inc. [[WFMI]]

Thursday:

• [[DKS]]
• NVIDIA Corporation [[NVDA]]
• Sony Corporation (ADR) [[SNE]]

For those that are new to the site, Alphadog is a legend here on in IBC. Before he retired he left The PPT community with a special gift called Alphadog’s Beatdown stocks. This screen is particularly helpful in deep market selloffs like we had the past few days.

Forget charts for a minute, they don’t mean shit. But Alpha screen is worth it’s weight in gold. Here are today’s results:

• Origin Agritech Ltd. [[SEED]]
• A-Power Energy Generation Systems, Ltd. [[APWR]]
• Neutral Tandem Inc. [[TNDM]]
• [[AMFI]]
• Fuqi International, Inc. [[FUQI]]
• China Security & Surveillance Tech. Inc. [[CSR]]
• [[HEAT]]
• Santarus, Inc. [[SNTS]]
• [[RINO]]

PPT members can save screen here. I have it labeled Alphadog’s beatdown stocks.

On the back of a good jobs report the market is in deep red once again. Friends, this is what a murderhole look like. I had plans to buy the blood early on, but decided against it. My downside exposure at the moment is [[TZA]] & [[VXX]] , thank God for that.

It’s possible that this could be a good opportunity to buy, but I’d rather be late than “throw bricks a ballons”. For now, you need to get in day trader mode. Forget holding swings, unless of course it is [[TZA]] . Poick you points, be quick and nible, and WATCH OUT FOR MURDERHOLES.