{+++}
The S&P tested 1060 twice today, almost three times, and held. We’ll see where we go tomorrow, but a further dollar rally should help crack that level like an egg. Based on my analysis of today’s levels, 1057 is a big number for support as well. Visa beat their number tonight, mainly because of “debit” purchases, not credit card purchases,yes folks are still playing close to the vest. Consumer confidence fell short and although the dollar was up, it didn’t rip, probably still to early to blow the bull trumpet there, although it does demand close attention.
Steel stocks are broken and look like toast, coal is hanging around and gold is in a range, apparently waiting waiting for the greenback’s next move. Tomorrow we have oil inventories at 10:30 and some names like COP and HES report.
We covered the balance of our STEC short today for +3.50, another one third BAC for +1.00. Other names triggered on the short side yesterday and today so please pay attention. Some of you want a better spreadsheet, I am working on it, it will also be in a new tab at the top of the blog, please give me a little time for it to happen, maybe by Monday.
My gut tells me this “big” dollar rally is over, if I’m right UYM could be a spectacular long side trade. If I’m wrong materials still have a way to go on the downside. The financials are starting to break but they might be do for a bounce. They never make it easy.
No names tonight, by the way, I tightened stops on the shorts in case we go up. If we get a thrust down it won’t matter, but I want to be cautious as always. No reason to take a two point stop if we don’t have to. Please not that I post earnings releases for you every night, please review, and if one our names is on the list, please drastically reduce your exposure into an earnings release if you are either long or short.
| Date | Symbol | Long Price | Short Price | Stop | Action | Result P/(L) | Triggered |
| 9-24-09 | |||||||
| MCO | 23.00 | 22.00 | Sold 1/3 sold 1/3 stopped 1/3 | +2.00
+4.30 +1.00 |
yes | ||
| MHP | 26.19 | 26 | Sold ½,stopped on balance flat | +2.00 | yes | ||
| NAV | 40.31 | 39 | Sold 1/3, Sold 1/3
Sold 1/3 |
+1.30
+3.00 +2.03 |
yes | ||
| QSFT | 16.30 | 16 | Sold ½, sold balance(10-13-9) | +.80
+1.70 |
yes | ||
| SIGA | 8.43 | 7.65 | -.80 | yes | |||
| MELA | 10.50 | 9.50 | -1.00 | yes | |||
| 9-28-09 | COCO | 17.29 | 18.25 | Sold ½
Stopped 1/2 |
+1.00
-.90 |
yes | |
| ZION | 17.39 | 19.00 | Stopped ½ flat | yes | |||
| 9-30-09 | YGE | 11.90 | 12.60 | -.70 | yes | ||
| VNO | 63.00 | 65.50 | flat | yes | |||
| XCO | 19.05 | 18.00 | stopped | -1.05 | yes | ||
| MHGC | 5.60 | 5.20 | -.40 | yes | |||
| 10-1-09 | CALI | 6.35 | 5.50 | no | |||
| CENX | 8.97 | 9.60 | stopped | +.50 | yes | ||
| BAC | 16.02 | 16.80 | stopped | -.78 | yes | ||
| AAP | 37.70 | 39.40 | stopped | -1.70 | yes | ||
| 10-05-09 | EXC | 47.78 | 50 | stopped | -2..22 | yes | |
| JEF | 27.60 | 27.90 | Sold 100% (10-13-9) | +1.60 | yes | ||
| TSPT | 14.35 | 13.70 | yes | ||||
| HIG | 29.05 | 28.30 | stopped | -.75 | yes | ||
| APT | 6.25 | 6.00 | -.25 | yes | |||
| 10-7-9 | FCX | 73.43 | 73.00 | Sold half(10-13-9)
Sold balance10-14-9 |
+1.78
+3.10 |
yes | |
| 10-10-9 | PENN | 25.67 | 26.20 | stopped | -.53 | yes | |
| NITE | 23.00 | 22.40 | stopped | -.60 | yes | ||
| O | 22.85 | 24.60 | no | ||||
| STEC | 25.51 | 25.80 | Covered 1/3
Covered 2/3 |
+1.00
+3.50 |
yes | ||
| ARST | 23.59 | 24.00 | Sold 1/3,sold 1/3 | +1.20
+2.20 |
yes | ||
| FIRE | 23.43 | 22.50 | stopped | -1.90 | yes | ||
| 10-14-9 | HRBN | 19.72 | 19.30 | stopped | -.50 | yes | |
| UCTT | 6.95 | 6.30 | stopped | -.65 | yes | ||
| 10-15-09 | MS | 33.35 | 33.00 | Sold all | +2.00 | ||
| 10-16-9 | QSII | 65.76 | 64.00 | stopped | -1.76 | no | |
| ACI | 24.22 | 23.20 | stopped | -1.02 | yes | ||
| 10-19-9 | MEE | 33.64 | 34.50 | stopped | -1.20 | yes | |
| BTU | 42.35 | 42.50 | sold | +.20 | yes | ||
| FSLR | 146.80 | 152 | stopped | -5.00 | no | ||
| ABAX | 23.86 | 25.00 | no | ||||
| PPD | 40.12 | 41.50 | no | ||||
| MCO | 23.14 | 25.50 | no | ||||
| 10-22-9 | MCRS | 27.40 | 28.00 | yes | |||
| AMAG | 35.10 | 35.90 | yes | ||||
| 10-26-9 | QCOM | 40.05 | 40.70 | no | |||
| TNDM | 22.92 | 23.40 | yes | ||||
| BAC | 16.05 | 16.60 | Sold 1/3
Sold 1/3 |
+.80
+1.00 |
yes | ||
| VMI | 75.70 | 76.70 | yes |