Short

Via long TZA with a stop below todays low, 25.5. Let see if this pattern works out to a breakdown.

Nat Gas

Blasting above 14, currently at 14.5. I should have had a stop order to long above 14, but its too hard to pay attention to trades when I can barely walk around with my crutches. Oh well. Don't forget stops below the last low!

I am currently working on improving an automated trading technique. Hopefully I can share the results and techniques here.

Nat Gas

Usually a good strategy for 'picking bottoms' is to buy when the price exceeds the previous day's high. Then you simply place your stop at the previous day's low. If you were to try and enter a position in UNG using this strategy, today you would have had an entry. However, I like long UNG if it can surpass the $14 mark (the high of 2 days ago). A stop should be placed at 13.3. One thing that worries me about going long UNG is that this 'pullback' has been much more severe than I anticipated, giving it a lower probability having found a bottom.

S&P Update

It appears that our trendline is broken. Critical area to watch is 880. Bulls need to make it above 900 to maintain confidence.

Changes

I have just started working as a full time employee this Tuesday (previously I was a contractor for the same company). This means I will be giving up trading for at least 2 weeks till things get settled down at work. Also, yesterday I stepped on some glass and have 12 stitches on the bottom of my foot. Even more reason to stop trading for a while! I will continue to do updates here, but I am not sure how often it will be. Maybe my market commentary will be even better since I have no emotions in the game. I look forward to my new job (finally I have an office!) and having my stitches removed in 2 weeks. I also look forward to watching the market from the sidelines and hopefully sharpening my own skills as a trader.

Nat Gas

Has nat gas finally bottomed? This is probably one of the worst performing commodities, but it has had a significant rally and is now testing MA support. It has finally broken above the 50 DMA.



The continuous contract shows a possible bull flag forming.


Note: there patterns are meaningless unless they break above, which should happen this weak. Place stops below the higher low.

Stupid Gaps

My plan last night was to wait and buy on a strength after the open. But the open was a gap up! I have got to learn to play these trend days much better. Strength in this market should not be battled against. Almost every indicator was positive all day. Trendlines using SMA or EMA were clean and easy.

Looks like weakness

If the market is going to head higher it needs to be bought up with force tomorrow. If not, 850 hear we come.

Trendline Update

Trendline Update

I thought this thing was going to break a while ago, so lets see what happens this time.

Stocks Near Lows

DRYS 6.07
KEY 5.54
X 26.61
UNG 16.32
PLD 7.3
KIM 9.9
AKS 11.34
AA 8.63
LVS 8.29
CELG 40.65
ACI 16.68
CLF 22.13
USO 32.11
MT 24.15

52 week low/high update

For non etf stocks I listed previously here are their new prices, and the performance for today.

Stocks at or near low continue to make new lows.
DRYS 6.05 -13.45%
X 26.7 -7.52%
KEY 5.6 -6.67%
UNG 16.36 -6.30%
PLD 7.22 -13.01%
USO 32.09 -1.65%

Stocks close to highs hold up better:
MYL 13.56 -0.59%
AZO 154.48 -1.59%
SGP 23.4 1.47%
ARO 31.81 -4.24%
FDO 30.5 -1.07%
DRI 32.92 -5.65%
HANS 42.72 -2.04%
GMCR 78.17 -2.29%


Much better performance.

52 week low

FAZ 5.16 0.37
SRS 21.45 0.75
TZA 26.20 1.12
SKF 43.01 1.63
DUG 18.55 2.49
BGZ 38.80 2.67
DRYS 6.85 3.63
TWM 46.25 3.68
X 29.23 7.01
KEY 6.33 7.38
UNG 16.70 7.83
UYG 4.21 8.82
PLD 8.45 9.75
USO 32.25 9.86
QID 37.08 9.94

Select charts

52 week high

Liquid stocks close to their 52-week highs

GMCR 83.94 100
HANS 43.55 100
VNUS 28.81 100
MYL 13.84 88
AZO 158.99 87
SGP 22.68 85
ARO 33.93 84
FDO 32.00 82
DRI 35.94 81

Charts

Some more bullish plays. It is very hard to find stocks that are not extended.

RF

Sloppy action.

ALL

Flagged yesterday, broke to the upside during the day.

EQR


KIM

Charts

RF

Crazy volatile stock, but it looks like it will continue higher as long as these higher lows keep up.

PLD

Starting to edge up.


This thing can break to the upside pretty fierce.

Coal stocks have been getting some crazy action recently. Maybe a buy the dip play, but at this point, intraday trades only.

PCX


MEE


JRCC


ARO

Just a wacky stock, wanted to share.

ALL

Potential breakout.

This Truck Aint Stopping

A Nice Way to Kick off the Month

No, not regarding stocks.

With 3 failed banks.

Read more.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $1.3 billion, making it the fourth costliest bank failure since the start of the recession. "It is a bigger hit to the insurance fund than they have seen in the last couple weeks," Marinac said. "This is a bigger issue than we have seen in awhile."

Cache Valley Bank, based in Logan, Utah, is assuming all deposits, paying discounted price of $352,000. It also agreed to buy nearly $11 million worth of America West's assets and took a 30-day option to purchase loans at book value. The FDIC estimates that the cost to the Deposit Insurance Fund will be $119.4 million.