Tuesday Morning

Can't fool the market - at least not the NASDAQ - watch them tech shares go down. The other thing that was going down was BGG and I should have sold it out two days ago on the hanging man on 5/11 but I didn't. Arrogant fool that I am I believed - so much for believing. I sold most of it and am keeping a handful of shares just in case it might resume the march. I still don't trust this market and I think that that we need a 4 or 5 day correction.

I added to USU on a 15-minute bar cross over at the open and I added onto AV on an S1 hit and bounce on the open. Both those trades appear to be working out.

ANO continues to do nothing and GGB is now my only steel stock and so I'm going to hang on to it for a bit. I think it is getting ready to breakout.

Other than that I think I'm done for the day so I'll see you tonight at the Wrap.

Update - I just can't get enough of it - sold off ANO because it isn't participating (have I ever mentioned that I hate cheap stocks?) for an $86 loss and bought JNPR in its place. JNPR is one of the stocks from my must buy list ("must" in the sense of when you need a quick lift). I'm planning on dumping out of AV too - but I need another 2 cents to cover the round trip commissions. I'm fairly certain I'm not going to get it today.

Update 2 - I dumped out of AV for a $40 loss - didn't get the 2 cents and in fact lost another 2 cents - decided to let it go before it got the best of me. I just couldn't believe.

Wrapping Monday

What a boring day. The market is waiting for the CPI data - the market already knows that there will be inflation in it so why it is waiting I don't know but that's the headline story so it's what we'll go with. Maybe there will be a CPI surprise but I doubt it - I smell inflation in the air. But if it comes in .0001% less than the expected then watch out above. To business -

I bought and sold and re-bought USU today. Once this morning and once this afternoon. I sold of AKS and I'm done with it. I'll wait for the next major pullback - I think that stock is finished. I bought (only once) ANO and even though it lost 6 cents on me I'll hold it for awhile. I managed to round out GGB to a full position and now I'm done with that one. If it doesn't continue to rise I'll sell it just as quickly as I bought it back.

There isn't much in the market any more that looks very appealing. I'm still holding BGG and AV and the latter went up today and the former didn't.

At one time today the VIX was actually more than 10% over its 10 day MA and now it is back to neutral.

The model portfolio lost 1.88 to 17.63 and the benchmark lost .21 to 7.24. The benchmark is doing a lot better in a down market than the model. That is to be expected because the model has a lot of high beta stocks in it and they will gain quickly and lose quickly too. It is not a balanced portfolio only a growth portfolio.

AAPL continues the march forward, GOOG continues the retreat, and MSFT continues to go sideways.

The INDU ATR printed 91.23 and that means that the rally will continue (after a small pause).

This guy went down some more -


and that is goodness because what it is showing is a coiling action in preparation of an explosive move up. Well I think so, anyway.

The up/down ratio printed 33% which is in the oversold territory.

As always I'll go with the up/down ratio and call tomorrow an up day.

The coin follows my lead although I don't know why and also calls for an up day.

This was one more split day - they are becoming routine and that has to mean something although what I don't know. Anyway the score stands at Marlyn 34 - 29 and 14 and the coin is 37 - 25 and 14.

See you tomorrow.

Looking At A Couple Of New Stocks

I've got two on the radar this morning. Both are from the Industrial Metals and Minerals group as found on the Leading and Laggard site from Yahoo Finance.

The first of these is USU which has a nice pivot point profile -


and the second is ANO which is a real cheapie but also with a nice profile -



And I intend to take a position in both of these today.