{+++}Hi Guys and welcome to all the news subscribers. So far we have a choppy market, the housing numbers were good but after an initial pop, the market has been acting lackluster at best. That’s either a short term warning sign or it could just be a pause that refreshes before the next leg up.
The dollar is firm today, so the materials (XME) aren’t getting the follow through love from last week.
LFT didn’t trigger as it did it on the open (first 15 minutes) I will talk about that tonight for the newer subscribers. I caution you guys to stay out of the market in MOST situations the first 15 or 20 minutes because it is very whippy and similar to the wild wild west., it can be the most the most whippy time of the day for the market. If you look at the chart on LFT being patient would have insured a better price, yes sometimes they will run a way and we will miss the entry but that’s OK.
CREE (31.80) has triggered and so has PJC (45) NEU was a quasi trigger as it was strong at the open, just barely hit the trigger price and then sold off on light volume, but I am counting that as a trigger and a stop out. Earnings are tomorrow before the open for NEU so if you are still long I recommend a sale by days end. We never hold stocks through an earnings report.
FEIC has also triggered (25.12)
After the run we’ve had this orderly correction is normal, but I am watching closely because things can turn quickly and go south. Keep an eye on twitter as I will telegraph any moves that I think we should be making, of course I will also immediately report it to the website.