Sell Targets!

I’ve been here, hangin with the Fly for a few weeks now and I feel the need to remind myself that all stocks are just a trade–especially when the market is no longer trending higher. Let me also remind myself that we are establishing a new trading range with boundaries of SPX 1040 to the 1120 area. 

Here we are, marching towards the top-end of our trading range, as forecast with regular predictability since just after my arrival. I must also remind myself that I called for a test of 1040 the minute I got here. We did that, now we’re doing this.

SELL TARGETS:

Hudson City Bancorp, Inc. [[HCBK]] –Bought 12.80. Target 15,  and a 4.5% yield .
Telecom Corp of New Zealand (ADR) [[NZT]] –Bought 8.00. Target 10, and a 8% yield .
Oceaneering International [[OII]] –Bought 53.50. Trading target 60.50.
Goldman Sachs Group, Inc. [[GS]] –Bought 149.00. Trading target 170.
Century Aluminum Company [[CENX]] –Average cost 11.50. Trading target 14.50.
Kulicke and Soffa Industries Inc. [[KLIC]] –Bought 4.90. Target 7.75.
eBay Inc. [[EBAY]] –Shorted 24. Trading target is 19.50.

Dividend stocks, low and high priced stocks and even a short. Well rounded. I don’t care if you sell them all right now and ring the bell. You’re a big boy, put on your big boy pants!

I’m batting 1000 with an average gain of 12.67%. In less than 3 weeks. Without a momentum market. Beginner’s luck? I don’t think so, bitches…

Markets are bouncing around and whipsawing all the extreme bulls and bears. Movements are fast and furious, but locked in a tightening range and in a near-term downtrend.

We’ve clearly established the upper boundaries of the range (SPX 1100-1120), but we are still trying to further define the parameters of the lower end of the range. So far, it is 1045, but it could easily be slightly lower because we may need to break the lows to get everyone scared–before moving back to the upper end of the range–again.

I will be working on Monday morning. I plan on doing my radio show live and I’ll be simulcasting it on Ustream as well. I want the holiday show to be all about YOU. Send me your questions during the show and on the chat window! Call into the show, 877-777-7713. Stocks, indices, commodities, strategy, anything you want to talk about. I’ll be doing the show for 2 HOURS, from 8am to 10am est.

If anyone complains that they don’t get unbiased help, they won’t be able to whine anymore. Plus it is funking FREE, so be there!

We’ve been preparing you for the flag-waving holiday rally. It is upon us at the moment. Expect a move to the top-end of our trading range near SPX 1100…

Plus if you were listening and watching the simulcast of my radio show this morning, I said that “I had a feeling” and to “get ready for the rally”.

Value-added, motherfuckers.

We will post a full portfolio review before the week is over.

Buying Hudson City Bancorp, Inc. [[HCBK]] here. Buy under 13, stop 11 and target the 17 area. Plus, enjoy the 4.7% yield…

So, market’s looked like they were gonna chill today as dealings are thin because of the world-ending blizzard. Instead, Bernanke springs some shit on us. Rates will eventually rise. Obviously. Tell me he didn’t get a call from the White House telling him to do that…Funcking pathetic.

Markets continue to bounce in the 1040-1100 trading range and as of the open was smack in the middle of the range. Perfectly in the middle. Now, the Bernanke comments are setting us back and the dollar is running hard to test its recent highs at DXY 80.60. Expect buy stops to hit above that number, sending the dollar higher. Everyone is waiting for the “engineered” dollar disaster, but with Europe imploding, the dollar fall is on hold and that is hurting stocks and commodities today.

But don’t expect too much damage in front of a flag-waving holiday. Markets observe President’s Day on Monday and have a tendency to run in front of holidays, so maybe we can stick near the mid-point of our trading range.

We added an oil play Oceaneering International [[OII]] yesterday and it was premature. Keep the 51 stop. We may buy more on today’s weakness and I still like the company and the stock.

Also recommended Telecom Corp of New Zealand (ADR) [[NZT]] which I think is right on the money. Bought just under 8 with a 7.50 stop and a 9+ target.

A quick review:

Goldman Sachs Group, Inc. [[GS]] bought @ 149 with a 147 stop, and a 175 target. We are up slightly.

Century Aluminum Company [[CENX]] bought twice @ 12.50 & 10.50. Average cost is 11.50. Keep a 9.50 stop and a 15.00 target. We are flat.

Kulicke and Soffa Industries Inc. [[KLIC]] bought @ 4.90. Set a 5.90 stop and a 7.50 target. New buyers should target 5.50 to buy. We are up big.

eBay Inc. [[EBAY]] shorted @ 24. Keep a 26 stop and an 18 target. We are up nicely.

The waters remain choppy, and the dollar is a problem for stocks and commodities. But I don’t expect we will breakout or breakdown from the trading range that is being established as we speak.