Another Win For The Bulls

What an impressive day, the futures bounced @ 875 early this morning, and made a steady climb higher all day. I myself took part in a few longs, buying up [[SONS]] which closed above it’s 200 day, and [[OXPS]] which has all the ingredients for a BTFO.

I was trigger shy on [[SIGM]], and watched it climb all day without me, the setup was too good to pass up, but somehow I passed it up.

Technically, this is exactly what we want to see, a pullback down to support (875), followed by an explosive move higher. I will be searching for a more long setups tonight, I’ll post my findings later tonight.

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Here’s a few more long setups:

[[SIGM]]

[[TLM]]

[[PCX]]

[[OXPS]]

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• Watch 875 on the S&P

Shorts:

1. [[HOT]]
2. [[FL]]
3. [[CALM]]
4. [[CKR]]
5. [[JCI]]
6. [[HXL]]
7. [[BKE]]

Longs:

1. [[TC]]
2. [[THQI]]
3. [[CTIC]]

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Monday:

• Lowe’s Companies [[LOW]]

Tuesday:

• China TechFaith Wireless Com Tech [[CNTF]]
• Dick’s Sporting Goods, Inc. [[DKS]]
• Hewlett-Packard [[HP]]
• Home Depot Inc [[HD]]
• JA Solar Holdings Co., Ltd. [[JASO]]
• Medtronic Inc. [[MDT]]
• Mitsubishi UFJ Financial Group [[MTU]]
• OCEANFREIGHT INC [[ONCF]]
• Saks Incorporated [[SKS]]
• Solarfun Power Holdings Co. Ltd. [[SOLF]]
• The TJX Companies, Inc. [[TJX]]

Wednesday:

• Advance Auto Parts [[AAP]]
• Deere & Company [[DE]]
• Hot Topic [[HOTT]]
• Target Corporation [[TGT]]
• Toll Brothers [[TOL]]

Thursday:

• Aeropostale, Inc. [[ARO]]
• Barnes and Noble [[BKS]]
• Excel Maritime Carriers Ltd. [[EXM]]
• Foot Locker, Inc [[FL]]
• Gamestop Corp. [[GME]]
• Gap Inc. [[GPS]]
• LDK Solar Co., Ltd. [[LDK]]
• ReneSola Ltd. [[SOL]]
• Salesforce.com, Inc. [[CRM]]
• Suntech Power Holdings Co., Ltd. [[STP]]
• The Buckle [[BKE]]
• Zumiez Inc. [[ZUMZ]]

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Action can be found in Biotech, here’s a few that look interesting. (note: you may lose your limbs buying biotech names.)

[[CTIC]]

[[CELG]]

[[GENZ]]

[[LIFE]]

[[ZGEN]]

[[CYCC]]

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After taking a beating yesterday, I decided to stop the bleeding and flat out move to cash. The run I have been on this last month has been absolutely insane, so I figure it’s time to clear my position sheet as well as my head, and get ready for the next move

The number of setups in my watchlist has been reduced tremendously, and most of the patterns from the top 10 video are non existent.

900 looks like it will become a brick wall, with 875 being a temporary floor. Until we break this range I will likely let the market chop around while I hold onto cash. The best thing you can do as a trader is let the setup come to you, and right now we need a few days for some pattens to develop.

Can the NASDAQ regain the 20 day? Keep an eye on it.

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