The Wrap 9/26/12

{+++}  This tape is consolidating gains and I am still bullish going forward.  The S&P closed just barley below the 20 day moving average support today, and the volume was light.

On any further dip, I will get aggressively long names in the XME, XLE and coal space. I also think the financials are overdue for a bounce and I lowered the top on FAS just in case we get a gap down. The coals tried a bounce today after being down eight days in a row, I added very small to coal longs today, but want to see if they have a continuation day tomorrow.

Stocks like BHI, RIO, SLB, CLF and APA look good on this pullback, and if I launch anything tomorrow I will let you know.

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