Materials See More Pressure

{+++} Click here to see how the sectors did. Net on the day the Dow closed at 8497.18, down 7.49.  That was about 65 points off its high.  The S&P 500 fell 1.26 to 910.71, about 8 points off its high.  The Nasdaq 100 still gained 12.64 today at 1455.89, but still closed 15 points off its high.  The Philadelphia Semiconductor Index (SOXX) managed to gain 2.45 today, a little less than 1 percent, at 266.16.

The technicals were still negative by a little better than 3 to 2 on advance-declines on New York, but were positive on Nasdaq by 7 to 6.   However, up/down volume was 9 to 4 negative on New York on total volume of 1.3 billion.  Nasdaq traded 2 ½ billion and had a 13 to 11 positive volume ratio.

Listen, your tired of hearing it and I’m tired of talking about it but I evidently need one last tweak on the video I want to show you guys. I had a nice tutorial on a short set up prepared for tonight, but have a problem with Camtasia the video provider. I should be able to  publish it though from my office computer in the morning, then I’m off to get the home computer checked.

Regarding MFE, there was some confusion brought on by me, 41.05 was the buy trigger not 40.05 so I gave you a stop when the stock didn’t trigger.

FSLR- I moved stop on that short from 101.50 to 102-103 later on in the morning so some may have caught a quick stop but we sold for about a 4-5 point profit on a 1/3 position.. I’m still short because I moved it to 103 and I did cover 1/3 for a nice profit.

CERN-stopped out for a  25 cent loss, but traded up a quick 50 cents after it triggered so some of you may have traded it but we will probably revisit, I don’t like it when longs trigger in a sloppy market so I took the side of caution with a tight stop

WYNN looks like drek but was volatile and got stopped, probably revisit that one too as the pattern looks horrible.

LEN- we are out for a nice profit on the short side

CSTR-stll a great short for us and we covered half for +1.75

We are churning here and its choppy so I am making stops tighter, dont worry we will get a a few runners soon and we’ll let them gallop. I’ll be in early to work some video pre open.

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