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  ¶ 9:34:00 AM 1 comments

  Sector Review CONSUMER DISCRETIONARY

HEALTHCARE

UTILITIES

CONSUMER STAPLES

TECHNOLOGY

INSURANCE

FINANCIALS

ENERGY

BASIC MATERIALS

Labels: XLB, XLE, XLF, XLI XLK, XLP, XLU, XLV, XLY

  ¶ 11:33:00 AM 0 comments

  SPX, Dollar Index, 10 Year Yield, Gold & Silver SPX: We have rallied from the lows, but is there real volume at these levels to justify higher prices? We are touching a major resistance level, hitting the lower level of the bearish channel formed in '07-'08. Caution here is needed!

Dollar Index: Double top formed, look for a slight rise then further weakness. RSI and MACD still look weak.

10 Year Yield: Look for higher rates in the near term. Speculation gov't might have to hike rates in order to stem inflationary pressures. RSI and MACD showing strong confirmation that higher rates are in store.
GOLD: Slight pullback then head higher.

SILVER: Price broke out of a pattern on volume confirmed some buying (See oval area). Look for higher prices from here.  ¶ 9:46:00 AM 0 comments

  ITT - Short Idea ITT Corp. is breaking through another bearish wedge. Once can see that after the first wedge (Nov'08-Jan'09) had been broken, we saw a significant downturn. I expect the same here, with a first target to be set at 32.50 followed by 32. Confirming this view, the RSI is showing a bearish divergence and has broken through an upward support line. Also, the upper Bollinger Band is showing a flat line in some areas, suggesting major resistance.

Labels: ITT Corp.

  ¶ 3:35:00 PM 0 comments

  Ideas
Above is are examples of my recent ideas. I haven't had time to post the charts, but should anyone need them, send me your contact information and I can send them to you.

I am also SHORT:

TMO @ 35.815
GILD @ 44.68

LONG:

GLD @ 92.215

Labels: ABX, ADSK, ASML, BP, BRCM, CAKE, COH, CSCO, CVX, GLD, HPQ, LMT, NBL, NEM, PFCB, SLV, TMO, TXRH, XLNX, XLY

  ¶ 2:40:00 PM 0 comments

  PF Changs PF Changs is SHORT idea that I came up with in the last couple of days, but haven't posted yet.

As shown on the chart, I expect the rice to fall down to the 200 day moving around the 22.50ish level mainly due to a break lower from the recent upward trending channel.

Stop/loss would be a break of the lower trend line of that channel.  ¶ 2:29:00 PM 0 comments

  Biotech & Healthcare Equipment heading lower? Biotech and Healthcare Equipment groups might be in for a hard landing. Price action on a number of biotechs as well as some other names do not look good and are prime for some shorting. The key right now is watching the SPX at 840ish level. Resistance at this level and we head lower.







  ¶ 8:01:00 PM 0 comments

  SPX Update 3/17/09
Regarding the SPX, the recent rally has almost reached a key resistance level just shy of 800. This resistance area should be part of a downward channel, thus a retest of lows or even further low, which is more likely. While there has been some promising news on the economic front and some earnings calls, there is still a lot of "shoe dropping" to be seen. For one thing, there are many BKs within the commercial REITs space and others.

To be safe, a stop/loss level of 800 should be considered, but I do not think there will be a rally much further than that. Some sideways action beyond the 800 level, and a slight dip in the coming months would suggest a Reverse Head and Shoulders pattern having been formed.  ¶ 7:56:00 PM 0 comments

  New Ideas for a changing consumer... Hello All... Sorry I have not been posting for awhile. I was busy speaking with some funds regarding my potential to work with them using my ideas and strategy. If anyone out there is interested, I would love to sit down with you and chat about my ideas and performance.

OK, we have had quite a start to 2009. The bearish sentiment has there, yet I think the markets will continue to slide, as the caution and concern about the consumer has only just started. While we hear week after week about job losses, the deflationary environment will only continue to grow. Each new segment of what is happening, whether it is home foreclosures, jobs, consumer spending, corporate earnings.. these things are all food for one another and are propelling the economy into a tailspin.

Here are a few ideas I see out there today:

Auto Nation (AN) is looking potentially good here for a few reasons. Potential Reverse Head and Shoulders pattern, although it is near the peak of a bearish channel. I like this simply for the fact that that while fewer new cars are being purchased, consumers will look for other ways to maintain cars. AutoZone would be another one to watch.
Spot Gold is also looking attractive down here. The rise above the broadening pattern in 2009, and subsequent new support should be a clear buy signal.
  ¶ 3:50:00 PM 0 comments

  Goldcorp (GG) Following previous posts regarding the potential for Gold to outperform in 2009, Goldcorp is shaping up for a nice short term rally. In order to play this in the very short term, I am looking for the price to rise to 30.31 and 32.21 as the RSI is showing some strength. A stop/loss at 23.40 (roughly the short term trend line) would be advisable to cut risk.

In the medium term, a break of 33.54 would call for more upside. Potential targets can be set at 37.10 and 40.88.
  ¶ 9:17:00 PM 0 comments