Thursday, March 3, 2011

Yesterday we had a pretty flat day on above average volume, a possible higher low might have formed in the SPY and if that occured than the market should rally today. Other than the higher low, we still remain in balance till the market breaks out of either 134.70 or 129.70.The fact that markets world wide rallied overnight could cause us to an up day today.
The strongest sector yesterday was the technology sector, at this given time there isn't any clear order flow in any sector except for commodities which also isnt very clear at the moment. In this environment I will continue to book into momentum and re-enter on good ideas for as long as I have to.

Longs:

KLAC
ALTR
ANF
CHK
GG
XOM
HAL
SLW

Breakouts:

UNH>44.00
TJX>51.00
CDE(ID)
COP>79.00
IAG>22.34
BK<30.00
NEM<54.00

Shorts:

STI
PCAR
AMGN
UAL
HIG

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