Wednesday, January 19, 2011

Wednesday's Game Plan

The market and SPY had an up day yesterday on a narrow spread and average volume. The market made a new high yesterday but it didnt do it convincinglyl. XLF didnt help the SPY yesterday as it was the weakest sector on the board and had an inside day. Gold on the other hand pulled back yesterday on below average volume. I remain bearish on gold today, and bullish on the oil and semiconductors.

Longs:

TXN
VLO
QCOM
AET
XOM
NOV
LLTC
CIEN
UNH
WFC

Breakouts:

STI>29.45
MET>47.00

Shorts:

AUY
DAL
GG

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