Morning Links

Earnings out today:

• Blockbuster Inc. [[BBI]]
• Iam Gold Corporation [[IAG]]
• Nordstrom [[JWM]]
• Sony Corporation [[SNE]]
• Urban Outfitters [[URBN]]
• Wal-Mart Stores Inc. [[WMT]]

Links:

• Upgrades/downgrades
• Pre-market action
• Notable Calls
• In Play
• IBD: Top News Stories
• WallStreet Fighter

I’ve been in the battlefield all morning selling positions, and adjusting my portfolio accordingly. There are a buch of significant breakdowns in the market, one important one was from our previous leader, the NASDAQ.

I’ve built up my cash position, but not quite ready to short yet. I’m thinking our next target is 875:

It’s about to get ugly for the dollar, I can sense it. Did you see the action in Gold & Silver today? Take a look at NG & NXG from our previous top ten video? Smoking hot! I will be watching for continued strength in commodity related names, and will be putting together a list of names tonight in The PPT.

There are so many great setups taking place, I can’t help but to think commodities are going higher. Could this possibly be the start of something bigger? A little hyper inflation anyone? Honestly, I didn’t think it would come so soon, but it is definitely something to watch.

Even the Cramer fav [[AUY]] looks good:

I added to my position in [[FLOW]] @ 2.28

• [[PLLL]]
• [[S]]
• [[ELN]]
• [[FMCN]]

Notes:

• My position in [[YHOO]] is ripping
• I still own [[CYNO]] and love it here
• [[XTEX]] is another good name to watch
• [[FLOW]] is consolidating nicely
• Watching [[NFP]] right here (top 10 name).

Hats off to CA for bringing my attention to [[PLLL]], it looks great!

1. [[AIR]]
2. [[BBI]]
3. [[ELN]]
4. [[FMCN]]
5. [[FSIN]]
6. [[IVN]]
7. [[LUV]]
8. [[NFP]]
9. [[PLD]]
10. [[URI]]

Note: Chart Addict has a great post explaining how to trade breakouts.

Note II: We saved a bunch of names exclusive for The PPT.