Watchlist

The volatility in the last couple of months has forced me to concentrate on ETFs primarily. But I continue to watch some stocks as a way to hedge.

Long:ISYS,LHCG,AMGN,CAL,UAUA,LCC,JEC,FLR,PCLN,CPO
Short:DMND,FLO,SXE,CHRW,JPM,MON,DE

FSLR that was highlighted as a potential short, blew through the first resistance level and stalled at that higher resistance level. I cannot make head or tail out of that stock but will wait to see if it can break through its 50d MA. It sure is a day trader's dream.

Another big move coming

With the jobs report up tomorrow, all major indices are at a crossroads so as to say. Investors are bracing themselves for some really bad news and anything short of a disaster will be taken as a positive. VWO and FXI are the most bullish patterns, SPY is in neutral territory and XLE is bearish.

Currently i am "hedged" so as to say with positions in VWO and XLE. I plan to take positions based on the jobs report tomorrow.

FSLR as a potential short

FSLR was a leader in the bullmarket and is now breaking down with resistance levels at 120 and 140. The 10d MA-20d MA-50d MA are all descending. I expect a couple of days of consolidation before a breakdown. I did scalp a 3% daytrade today and will re-enter in the next couple of days for a swing.

INTC revisited

INTC is the only stock I retained through the crash. Sentimental holdings never pan out and this one was no different. I did cover the call options and that softened the blow a bit, but this was a big ouch.

I was asked by a very good friend when Intel will reach 25 again. Technically, there are plenty of resistance levels at 16.5 and 19.5 and the symmetrical triangle pattern. I would be satisfied if it reaches 20 or 21 at best.

That being said, INTC is a good buy at these levels. My long term stock screens for low price-earning, low price-sales, extremely low debt, high cashflow and high gross margins relative to industry had Intel in it. So I will be holding my SPP buys for the longer term.

Divergence revisited

The divergence from a week ago worked beautifully and produced a 20% gain. It hit the longer term trendline in oversold conditions today and there was a nasty sell-off.

I need to follow my own advice more often.

That being said, I really like the volume patterns we have going on. A lot of accumulation going on at these levels and I will put my IRA money back into play when the previous lows are revisited. The upsurge in the dollar has especially made emerging markets very attractive.