I already discussed my day trade, NFI, and that was good. I increased my AKS positon by 33%, put another 25% on my AMMD position, and introduced TRA back into the trading portfolio at the introductory level. The model portfolio is at .10 and the benchmark is -0.61. That's a lot of alpha. But to be honest one stock is carrying most of the weight and that is RYI and I'm already too afraid to buy it. It is flying and its ATR just keeps going up and up - I'm waiting for a pull back and I will probably put that into the trading portfolio too if I ever get a chance.
Another stock that I stumbled across today that I really want to have a pull back is GLBL. Have a look -
I hope it doesn't just keep going - I really want this one in the trading portfolio. You see what it did on 2/27? That's right it went up on strong volume - how do we miss plays like this?
The three brew meisters, BUD, TAP, and SAM all backed up today. Still watching the ATR increase on BUD and TAP but SAM's looks like it is starting to roll over - I think that is just a rebound effect from yesterday's major move up. I'm not going to pay attention to these any longer since I don't particularly care for most the brew nor any of the stocks.
The three pals were all over the place today - GOOG gapped up and then dropped down, AAPL opened down went up, went down, went up, went down and finished down. The good news is that its ATR looks like its rolling over down. MSFT just went down - I think it has found its trading range and is going to sit here forever. But unfortunately none of this is signaling good things for the market at large. If MSFT starts going up and GOOG goes up and stays up for a couple of days it might mean a recovery is on its way.
The INDU ATR is actually down 15 cents from yesterday which in the context of 174 bucks ain't much. I'd hold off for awhile before I started building that addition on to the house using the funds out of this recovery.
SBUX is defying the odds and going back up. But so is its ATR. I think it stalls out about another 50 cents higher (31 or so) but I could be wrong.
This indicator is still climbing and that's a good thing -
All of the indices and GS finished the last hour deep red/black and that usually means a turn around coming on the next day. The up/down ratio is 42% and the VIX is back in neutral territory. The new 20 day low/high ratio is about 2 to 1 low - that is good even though there isn't that many of each (649 - 325).
I'm forecasting tomorrow as an up day.
Oh and in case you missed it this is the Q's today on the hour charts -
And this is the Yen today on the hour charts -
That long red bar on the right - that's the hour from 3 to 4 - the most important trading hour of the day according to CNBC. And if you didn't see this chart on CNBC it's probably because they are clueless.
The magic coin says that tomorrow will be ... heads - also calling for an up day.
The score now stands at Marlyn 18 - 15 and 5 and the coin is 16 - 17 and 5 -- what a pair.